法律快讯

The Financial Services Commission (FSC) of the British Virgin Islands (BVI) has published guidance on what is required of persons registered under the Virtual Assets Service Providers Act 2022 (VASP Act) to comply with the “Travel Rule” (Guidance).

The Cayman Islands Monetary Authority (CIMA) conducts inspections to ensure that regulated entities comply with applicable laws and regulations. We set out below a general guide on inspections by CIMA.

A Private Trust Company (PTC) is an entity that is established with the sole purpose of acting as a corporate trustee to a trust or a number of trusts, provided those trusts are “connected”. The term “Connected trust business” means trust business where the settlors of funds to…

The laws relating to trusts and equity in the Cayman Islands and in the British Virgin Islands are derived directly from English law but have been modified in each jurisdiction by legislation to reflect their respective position as a premier offshore financial centre.

The Special Trusts regime for Cayman Islands STAR trusts (now incorporated into Part VIII of the Trusts Act (As Revised)) provides the legal basis on which private purpose trusts can be established in the Cayman Islands, without affecting the previously existing laws governing the creation and administration of…

Liquidations in the British Virgin Islands (“BVI”) can be either: 1) an insolvent liquidation and therefore governed by the Insolvency Act 2003 (as amended) (“Insolvency Act”); or 2) a solvent liquidation and therefore governed by the BVI Business Companies Act (as amended) (“Companies Act”). The Companies Act was…

Cayman Islands exempted companies (“Cayman Companies” and each a “Cayman Company”) are widely utilized in structuring cross-border finance transactions. One of the key reasons for this is that the Cayman Islands provides a flexible and well-tested regime for secured financing transactions that is attractive to borrowers and lenders…

On 5 February 2024, the Securities and Futures Commission in Hong Kong (“SFC”) published a Statement of Disciplinary Action, which found that PICC Asset Management (Hong Kong) Company Limited (“PICC”), a corporation licensed to carry on Type 4 (advising on securities) and Type 9 (asset management) regulated activities…