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Practically Speaking: Episode seven - Establishing substance in the BVI
Economic Substance in the BVI

Practically Speaking: Episode seven - Establishing substance in the BVI

In our seventh episode, Transactional Partner Rachel Graham and Director of Fiduciary & Custodial Kerry Graziola discuss how to establish substance for relevant in scope entities in the BVI.
The Funds Download: Episode five - Boundless opportunities for the Latin America market
Investment Funds

The Funds Download: Episode five - Boundless opportunities for the Latin America market

In the fifth episode of our Funds Download podcast series, our host and the global head of Funds and Regulatory, Philip Graham, is joined by Harneys Fiduciary Managing Director of the Americas, Maria Pia Buchi, to examine market trends originating from Latin America and how investment fund products are structurally so important in the plumbing of the region.
China’s recognition of foreign insolvency proceedings and VIE structures
Litigation and Insolvency

China’s recognition of foreign insolvency proceedings and VIE structures

In the last decade, VIE (variable interest entities) structures have become increasingly popular in the People’s Republic of China as a mechanism to allow foreign investments into China. This topical article is a collaboration between Fangda Partners and Harneys and was published on Capital Markets Intelligence.
Registered Persons exempt from beneficial ownership requirements
Investment Funds

Registered Persons exempt from beneficial ownership requirements

Changes to the Cayman Islands beneficial ownership provisions will come into force on 29 June 2020 which directly impact Registered Persons. Those companies that are registered as Registered Persons under the Securities Investment Business Law (Law) will no longer be required to comply with the beneficial ownership obligations under the Companies Law or the Limited Liability Companies Law, as applicable.
EU regulators remind firms on conduct of business obligations under MiFID II during COVID-19
Regulatory and Tax

EU regulators remind firms on conduct of business obligations under MiFID II during COVID-19

The COVID-19 outbreak has forced many countries to implement measures to prevent the spread of the pandemic and has caused a major shock to the worldwide economy and financial markets. The approach of competent authorities responsible for the oversight of the financial services industry has been no different: new times call for new measures, or at least a reminder of the measures firms should already be following to protect the investing public.
New fines and changes to beneficial ownership responsibilities in the Cayman Islands

New fines and changes to beneficial ownership responsibilities in the Cayman Islands

The Cayman Islands beneficial ownership regime has been amended and the following important changes will commence on 29 June 2020: New administrative fines will apply for companies that breach specified beneficial ownership provisions of the Companies Law or the Limited Liability Companies Law, responsibility will be placed on the registered office provider, instead of the company, with respect to restrictions notices and companies registered as a “Registered Person” under the Securities Investment Business Law will be exempt from the beneficial ownership requirements set out in the Companies Law or the Limited Liability Companies Law.