Clear all

Refine your search

Tags
Author
Territory

1,097 results found

Commentary
Ask Lexy

Ogier | Jersey | 23 Sep 2021

Fund finance: Jersey perspectives and updates

The global fund finance market has shown much resilience over the past 18 months. This article outlines the recent developments in Jersey's fund finance market, including single investor strength, equity commitments, environmental, social and governance incentives, and hybrid and net asset value facilities.
Commentary
Ask Lexy

A G Paphitis & Co | Cyprus | 23 Sep 2021

Power of attorney in Cyprus

A power of attorney can be either "general" or "specific". The main difference is that the former allows the attorney to sign any document on behalf of the principal, while the latter limits the attorney's authority to the extent specified in the power of attorney agreement. For example, a specific power of attorney may have limitations set according to the nature of the task or a time limit....
Commentary
Ask Lexy

Kozusko Harris Duncan | USA | 23 Sep 2021

Court upholds higher IRS penalty on late filing of Forms 3520 and 3520-A

The estate of a deceased US taxpayer recently lost its argument that the Internal Revenue Service (IRS) should have assessed only the 5% penalty levied on US owners who fail to ensure that their foreign trust files an annual return in a timely manner. The IRS assessed a penalty because both Form 3520, Annual Return to Report Transactions with Foreign Trusts, and Form 3520-A, Annual......
Commentary
Ask Lexy

Ogier | Guernsey | 23 Sep 2021

Fund finance: Guernsey perspectives and updates

The global fund finance market has shown much resilience over the past 18 months. This article outlines the recent developments in Guernsey's fund finance market, including with regard to security and investor notices as well as general partner commitment and net asset value facilities.
Commentary
Ask Lexy

Ogier | Cayman Islands | 23 Sep 2021

Grand Court confirms test for liquidator independence

The Grand Court has recently provided helpful clarification as to the appropriate test to be applied when a dispute arises over the identity of the insolvency practitioners proposed to be appointed by a creditor or the company. The Court confirmed the three-stage test for determining independence and that when applying the test, significant weight should be afforded to the creditors' views....
Commentary
Ask Lexy

Ogier | British Virgin Islands | 23 Sep 2021

BVI Data Protection Act

The Data Protection Act (DPA) came into force on 9 July 2021. Prior to the introduction of this new legislation, there was no specific data protection legislation in the British Virgin Islands. Persons who are private bodies and who process personal data will need to make changes to their data processes and procedures to ensure their compliance with the DPA. Some of the necessary changes will......
Commentary
Ask Lexy

Ogier | Cayman Islands | 16 Sep 2021

CIMA publishes FAR and RFE forms for private funds

The Cayman Islands Monetary Authority has announced that the fund annual return (FAR) form for funds registered under the Private Funds Act (Revised) (private funds) is now available, together with the related fund entities (RFE) form, which must be used by private funds to submit data regarding certain related fund entities. The deadline for the first filing of audited accounts and the......
Commentary
Ask Lexy

Ogier | British Virgin Islands | 16 Sep 2021

Extension of economic substance requirements to limited partnerships without legal personality

The Economic Substance (Companies and Limited Partnerships) (Amendment) Act 2021 extends the economic substance regime under the Economic Substance (Companies and Limited Partnerships) Act 2018 to limited partnerships without a legal personality. Following its enactment, there will be a six-month transitional period for existing partnerships without a legal personality that were formed before......
Commentary
Ask Lexy

Ogier | Cayman Islands | 9 Sep 2021

Snapshot: implementing Cayman Islands charging orders in aid of enforcing foreign arbitral awards

In a recent decision, Justice Segal provided welcome clarification of the grounds on which the Cayman Islands Grand Court will grant an order for sale of shares in a Cayman Islands company secured by way of a charging order absolute in support of the enforcement of a foreign arbitral award. This decision highlights that a charging order can be used as an effective remedy to support the......
Commentary
Ask Lexy

Ogier | British Virgin Islands | 9 Sep 2021

Annual return reporting requirements for all fiduciary services licensees

The Financial Services (Prudential and Statistical Returns) (Amendment) Order 2021 came into force in February 2021. The British Virgin Islands Financial Services Commission has introduced new annual return reporting requirements for certain categories of licensees, including trust companies, investment managers or investment advisors and fund administrators.
Previous page 1 2 3 ...