Jersey Finance has welcomed a new amendment to the island's legislation that will make it significantly easier for managers to migrate limited partnership fund structures to the jurisdiction.
Guernsey is proposing to adopt limited liability companies (LLC) in a move intended to enhance the island’s competitive position in the United States.
The introduction of new legislation in Jersey that enables the establishment of Limited Liability Companies (LLCs) has the potential to significantly enhance pan-Atlantic business with the US, according to Jersey Finance.
Global regulatory and compliance services provider, Lawson Conner has launched a new outsourced anti-money laundering (AML) solutions offering for Cayman funds.
With some offshore jurisdictions having only moved recently to introduce registers of beneficial ownership, one could argue that having had its own register in place for over 70 years, Bermuda has been ahead of the curve. Now, as global regulatory oversight and transparency expectations rise, Bermuda is well placed to demonstrate that its house is very much in order.
Although the Cayman Islands tends to be the default option for most alternative fund managers, there is a good argument for saying that Bermuda is equally, if not more attractive; certainly from a cost perspective and a ‘substance’ perspective, with a well-established business district in Hamilton, the island’s capital.
Guernsey’s fund sector is expecting increased interest in its Private Investment Fund following a change in its rules and guidance.
Investment funds can now take advantage of a new limited partnership regime following the passing of the Limited Partnership Act in the British Virgin Islands (BVI).
By Matt Mulry (pictured), Dillon Eustace – In the shadow of an impending review by the Financial Acting Task Force the Cayman Islands has undertaken an overhaul of its laws, regulations and guidance notes which govern its anti-money laundering and counter-terrorist financing regime.
Last July, the Securities Commission of The Bahamas (the Commission) embarked on a process to overhaul the Investment Funds Act. The Investment Funds Act 2003 was largely structured to be in line with the operations of fiduciary administrators and did not necessarily account for the appropriate regulation of the various roles within a fund structure.