Campbells Regulatory Update – Q3 2022

The Q3 Regulatory Update provides an overview of the main legal developments in the Cayman Islands and the British Virgin Islands from 1 July to 30 September 2022.  We discuss the following areas:

Cayman Islands

1. Companies (Amendment) Act, 2021
2. The Russia (Sanctions) (Overseas Territories) (Amendment) (No.2) Order 2022
3. Limited Liability Companies (Amendment) Bill, 2022
4. Updates to Economic Substance Guidance Notes
5. Cancellation of Licence or Certificate of Registration for Regulated Mutual Funds and
   Regulated Private Funds
6.  Dividend Payments and Distributions
7.  Key Findings of Registered Persons from on-site Inspections
8.  Climate Change, Environmental, Social and Governance and Sustainability (“ESG”)
9. CIMA Consultations
10. Regulatory Calendar

British Virgin Islands

1.  Amendments to the BVI Business Companies Act
2.  Amendments to the BVI Anti-Money Laundering Regime
3.  VASP Consultation
4.  International Tax Authority (Administrative Penalties) Regulations, 2022
5.  BVI FSC outlines priorities for its new Enforcement Philosophy
6.  BVI Proliferation Financing Risk Assessment 2022
7.  BVI FSC Consolidated Supervision Policy

Click here to access the Update: Campbells Regulatory Update – Q3 2022

Campbells advises both local and international banks, insurers, company managers, trust companies, investment managers, administrators and directors on regulatory and compliance matters. For further information please get in touch with your usual Campbells contact or one of the contacts below.