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Important updates to the BVI Regulatory Code 2009
Regulatory and Tax

Important updates to the BVI Regulatory Code 2009

The BVI Regulatory Code 2009 (the RC09) was amended by the Regulatory (Amendment) Code 2019 (the Amendment). The Amendment was issued and Gazetted on 11 November 2019 and comes into force on 13 November 2019. There are a number of important points to note from the Amendment.
Initial enforcement of the Cayman Islands data protection regime
Regulatory and Tax

Initial enforcement of the Cayman Islands data protection regime

The Cayman Islands Data Protection Law came into force on 30 September 2019 and all Cayman Islands data controllers need to ensure they are now compliant with the new data protection regime in the Cayman Islands.
Economic substance requirements — What should BVI entities be doing now?
Economic Substance

Economic substance requirements — What should BVI entities be doing now?

Philip Graham and Joshua Mangeot outline the recent British Virgin Islands legislation on economic substance and the key deadlines involved, and highlight the initial classification exercise which relevant entities should be conducting now.
SOS Substance on Substance: Episode ten - the Rules
Regulatory and Tax

SOS Substance on Substance: Episode ten - the Rules

In the tenth instalment of Harneys’ Substance on Substance series, Philip Graham and Josh Mangeot discuss the release of the final version of the guidance formerly known as the “Code”, which was published by the ITA on 9 October 2019 as its newly-titled Rules and explanatory notes (the Rules).
A practical approach to regulation
Regulatory and Tax

A practical approach to regulation

The swathe of transparency disclosures required by new and upcoming regulation has been putting pressure on private equity firms. This article, originally published by Private Equity Wire, looks at how PE managers can work with pragmatic and knowledgeable law firms to understand exactly how the rules apply to their particular situation and consider whether there is a basis for limiting disclosure about their business and their investors.