Cayman Islands wills law heralds a more flexible approach
The rules recognising the legal formality of wills in the Cayman Islands are prescriptive, requiring the will to be executed in writing, signed at the foot of the document by the testator and witnessed by two witnesses who formally attest the will in writing in the presence of the testator.
Luxembourg Government submits bill to Parliament implementing the EU Anti-Tax Avoidance Directive 2
On 8 August 2019, the Luxembourg Government submitted a draft law to the Parliament (the Draft Law) to implement the Council Directive (EU) 2017/952 of 29 May 2017 (ATAD 2 or the Directive) into Luxembourg domestic law.
Ogier fund finance team now offers Luxembourg legal advice from US time zone with return of Catharin
Ogier's fund finance team now offers Luxembourg legal advice from a US time zone with the return of fund finance specialist Catharina von Finckenhagen to the Cayman Islands as a dual-qualified Luxembourg advocate and Cayman attorney.
Enhanced Information for Cayman Entities
The Cayman Islands Government has passed a number of amendment laws to strengthen Cayman's anti-money laundering and counter-financing of terrorism regime. The laws, published on 8 August 2019, are intended to help address certain recommended actions in Cayman's legislative framework identified by the Caribbean Financial Action Task Force in its evaluation report published in March …
Register of beneficial owners deadline approaching – are you ready?
As of 1 March 2019, the Luxembourg law of 13 January 2019 (the Law) creating a register of beneficial owners (Registre des bénéficiaires effectifs or "RBE") is in force.
Jersey substance proposals – the Banking and Finance perspective
EU finance ministers have formally approved Jersey's economic substance legislation by removing the jurisdiction from the "grey list" on 12 March 2019 and the Privy Council granted formal approval to the Taxation (Companies – Economic Substance) (Jersey) Law 2019 (the Law) on 13 March 2019. The Law takes effect from 1 January 2019.
Is unfair risk allocation really to blame?
The purpose of this article is to test whether the current state of the industry has primarily resulted from a collective failure to fairly allocate risk, or whether other factors are also culpable to a greater or lesser degree.
New conduct regime for banks, insurers and NBDTs announced
On 25 September the Government announced wide-ranging legislative reforms to govern the conduct of financial institutions.
Further reform announced on unfair commercial practices and contract terms
The Ministry of Business, Innovation and Employment recently announced its policy decisions regarding changes to the law on unfair commercial practices.
Quarterly Update on Trade Defense Cases inTurkey (September 2019)
The authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, has been given from the Ministry of Economy to the Ministry of Trade (“Ministry”). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.