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Private Client & Offshore Services

22 April 2021
Oliver Payne Avenues of redress for stakeholders in Cayman-incorporated companies facing excesses of majority shareholders

Cayman Islands - Ogier

Against the backdrop of differing economies, laws and regulations throughout Asia, choosing to incorporate Cayman entities into holding and investment structures allows international stakeholders to cooperate under the aegis of a stable and effective judicial system. Through its court system, the Cayman Islands can provide the investment community with impartial, established and highly regarded judicial resources dedicated to resolving complex commercial disputes.

Authors: Oliver Payne, Edwin Gomez, Ryusuke Bushimata
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Alex Horsbrugh-Porter Regulatory investigations: overview

Guernsey - Ogier

The Guernsey Financial Services Commission (GFSC) routinely visits Guernsey licensees to check on their compliance with the local regulatory law, regulations and rules. The GFSC will examine and may identify deficiencies in a regulated licensee's corporate governance, management or internal controls. In those circumstances, the GFSC will require the licensee to carry out remediation work to address any contraventions or misconduct to ensure that the entity is returned to full compliance as soon as possible.

Authors: Alex Horsbrugh-Porter, Michael Rogers
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Helen Ruelle Proposed annual leave increase and daily rest breaks for employees

Jersey - Ogier

From January 2022, additional employment rights are expected to be introduced for employees in Jersey. The proposals would require employers to provide at least three weeks' paid annual leave and a 15-minute rest break in any work period of six hours or more. Jersey's Employment Forum presented a report to the social security minister following public consultation in late 2019 and early 2020, which made a number of recommendations.

Authors: Helen Ruelle, Will Austin-Vautier, Laura Shirreffs, Kate Morel
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Pedro Cortés Provision and distribution of financial products to professional investors

Macau - Rato, Ling, Lei & Cortés Advogados

The Monetary Authority of Macao has been aligning its activity with the development of the financial markets and products in the Macau Special Administrative Region (MSAR) and recently issued a circular regarding the provision and distribution of financial products to professional investors. As professional investors are generally viewed as a catalyst or pillar of an efficient financial market, this circular aims to further develop a more sophisticated regulatory environment in the MSAR.

Authors: Pedro Cortés, Calvin Tinlop Chui
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Simon Blain How to protect the 'bank of mum and dad' when your child is cohabiting

United Kingdom - Forsters LLP

Unmarried, cohabiting couples are the fastest-growing type of family, with an increase of more than 25% in the past decade. As house prices continue to rise faster than average incomes, many young people are turning to the 'bank of mum and dad' to help with their first property purchase. While such scenarios are increasingly common, they give rise to a number of legal issues.

Authors: Simon Blain, Helen Marsh
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Recent updates

Daniel Maine Trust company's £550,000 fine demonstrates importance of effective and consistent AML procedures

Jersey - Ogier

Author: Daniel Maine
Jennifer Fox Snapshot: notification injunctions

Cayman Islands - Ogier

Authors: Jennifer Fox, Oliver Green, Anna Snead
Alex Horsbrugh-Porter Director disqualification: 12-year disqualification penalty imposed

Guernsey - Ogier

Authors: Alex Horsbrugh-Porter, Michael Rogers
International Law Office Tell us what you think and you could win a £100 Mastercard voucher

International - International Law Office

Author: International Law Office
Rishabh Shroff CBDT delays relief for taxpayers facing double taxation

India - Cyril Amarchand Mangaldas

Authors: Rishabh Shroff, Kunal Savani, Preyanka Prabhakar
Elizabeth Small Business asset disposal relief – a summary

United Kingdom - Forsters LLP

Authors: Elizabeth Small, Oliver Claridge, Nicole Aubin-Parvu
Ramonne Gardiner Homeowners Protection Act – time to revisit

Bahamas - Lennox Paton

Author: Ramonne Gardiner
Severiano E Ortiz Reporting beneficial owners of certain US companies: details of new Corporate Transparency Act

USA - Kozusko Harris Duncan

Authors: Severiano E Ortiz, Jennie Cherry, Bryan Hoseok Ok

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