Unravelling
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Unravelling Complexity

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Changes in offshore M&A - Buyer be aware
Investment Funds

Changes in offshore M&A - Buyer be aware

George Weston, Philip Graham and Matt Taber discuss the practical impact of recent legislation in the British Virgin Islands and the Cayman Islands on offshore M&A transactions. This article was first published in the September 2019 issue of PLC Magazine.
Provision of virtual asset services now formally subject to Cayman’s AML regime
Investment Funds

Provision of virtual asset services now formally subject to Cayman’s AML regime

Under recent changes to the Cayman Islands Proceeds of Crime Law, the provision of virtual asset services is now formally recognised as “relevant financial business”. Any entity that carries out relevant financial business must ensure that it complies with the Proceeds of Crime Law and the Anti-Money Laundering (AML) Regulations.
Luxembourg beneficial owners register: 31 August deadline approaching fast
Regulatory and Tax

Luxembourg beneficial owners register: 31 August deadline approaching fast

The Luxembourg Law of 13 January 2019 (RBE Law) provides for the setting-up of a register of beneficial owners of Luxembourg legal entities. The registration of the beneficial owners must be carried out online through the RBE portal with all current beneficial owners to be registered by 31 August 2019 in order to avoid criminal fines resulting from a breach of the RBE Law and to benefit from a free-of-charge filing.
Luxembourg register of beneficial owners
Investment Funds

Luxembourg register of beneficial owners

The Luxembourg Law of 13 January 2019 (RBE Law) providing for the setting-up of a register of beneficial owners of Luxembourg legal entities (Registre des bénéficiaires effectifs or RBE) was published in the Luxembourg official gazette on 15 January 2019.
Cayman Islands: Update to Reportable Jurisdictions list announced
Investment Funds

Cayman Islands: Update to Reportable Jurisdictions list announced

The Cayman Tax Information Authority (TIA) issued an advisory confirming an update to the Reportable Jurisdictions list, dated 17 May 2019 and gazetted on 14 June 2019, which can be found here. This list, which contains two new Reportable Jurisdictions, applies to filings made for the calendar year 2018. We strongly recommend that clients review this list to ensure that all reportable accounts have been identified and filed accordingly.
The liquidity conundrum
Investment Funds

The liquidity conundrum

In response to market pressures which range from quant and index funds to political and economic factors, in order to seek alpha and deliver returns to investors hedge fund managers are increasingly looking to less liquid strategies such as private credit, private equity and infrastructure.