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Private Client & Offshore Services

06 August 2020
James Heinicke Administrative fines regime extended

Cayman Islands - Ogier

The Monetary Authority (Administrative Fines) (Amendment) Regulations 2020 recently came into force, extending the administrative fines regime beyond breaches of the Anti-money Laundering Regulations to a much broader spectrum of breaches under various Cayman regulatory laws. Of particular interest to Cayman bank licensees will be how breaches of the Banks and Trust Companies Law will be treated under the regulations.

Authors: James Heinicke, James Lydeard, Cornelia Zhu
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Christopher Jones Secured lending in Guernsey

Guernsey - Ogier

Guernsey entities continue to be popular in asset-holding structures and, accordingly, lenders are regularly asked to put in place financing arrangements involving Guernsey entities. This article provides an overview of the mechanism under Guernsey law for the creation and enforcement of security over certain Guernsey-situated assets, such as the shares in a Guernsey company, certain contract rights and monies in a Guernsey bank account.

Authors: Christopher Jones, Matthew Macfarlane
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Rishabh Shroff SEBI clarifies status of married daughters who become promoters of listed companies

India - Cyril Amarchand Mangaldas

In India, many families are reluctant to pass their business wealth and assets onto their married daughters due to the perceived risk that the property ends up being controlled by their daughters' in-laws. This is even more pronounced for promoter families with significant holdings in listed companies. The Securities and Exchange Board of India recently issued informal guidance which dealt with a promoter gifting his shares to his married daughters and the implications under the relevant listed company regulations.

Authors: Rishabh Shroff, Varsha Reddy
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Nick Jacob Family governance in the digital age

United Kingdom - Forsters LLP

The COVID-19 pandemic has had two major implications for family governance structures. In the short term, travel restrictions and health risks have prevented business as usual for the foreseeable future. In the long term, the increasing use of digital communication by families and their professional advisers is disrupting governance structures in some cases. This article provides a practical checklist for family governance in the post-COVID-19 world.

Authors: Nick Jacob, Kelly Noel-Smith, Daniel Ugur, James Brockhurst
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Recent updates

Charlotte Brown Practical comparison between two of Guernsey's most flexible regulated fund products

Guernsey - Ogier

Author: Charlotte Brown
Emily Haithwaite Migration of foreign limited partnerships into Jersey

Jersey - Ogier

Author: Emily Haithwaite
Jennifer Fox Insolvency and restructuring: segregated portfolio companies

Cayman Islands - Ogier

Author: Jennifer Fox
Chelon Carr-Newbold Tax consequences of transferring Bahamian real property held by a company for estate planning purposes

Bahamas - Lennox Paton

Authors: Chelon Carr-Newbold, Renai Martin
Radhika Gaggar Fortifying a will: safeguards to ensure validity

India - Cyril Amarchand Mangaldas

Authors: Radhika Gaggar, Shaishavi Kadakia
Pedro Cortés New e-government law will streamline administrative proceedings

Macau - Rato, Ling, Lei & Cortés Advogados

Authors: Pedro Cortés, Madalena Perestrello
Julia Ramsden Gunduz Trust Registration Service update

United Kingdom - Forsters LLP

Authors: Julia Ramsden Gunduz, Robert Payne