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Regulatory Blog

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Update to UK Sanctions on Russia-Ukraine-Belarus (up to 22 June 2022)
Following the invasion of Ukraine by Russia, the UK Government, alongside the member states of the European Union, the United States of America and other global stakeholders issued significant new sanctions. View a table of all the sanctions here
CySEC advises on the EU’s sixth package of sanctions against Russia
On 15 June 2022, the Cyprus Securities and Exchange Commission (CySEC) published Circular 517 providing a detailed analysis on the amendments and additions made to Council Regulation (EU) 2022/879 of 3 June 2022, amending Regulation (EU) No 833/2014 concerning the Article 5m (amended), Article 3m (new) and Article 5n (new).
No additional AML-CFT measures for Cayman
The European Union has confirmed to the Minister of Financial Services and Commerce of the Cayman Islands government that the EU does not require further measures, beyond those included in the Financial Action Task Force action plan, to remove the Cayman Islands from the EU's anti-money laundering and countering the financing of terrorism list.
CSSF issues updated FAQs on Capital Risk Fund
On 10 June 2022, Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) published updated frequent asked questions (FAQ) on the regulated société d’investissement en capital à risque, a specialised investment company whose exclusive purpose is to invest in risk capital.
BVI Licensees: June filing deadlines
BVI Licensees with a 31 December year-end should be aware that audited financial statements must be filed with the Financial Services Commission by 30 June 2022.
Expert Review: Episode three - International transfers of personal data: Theory and practice
In this episode, Senior Associate Elina Mantrali and guest expert Phil Lee, discuss the scope and practical implications of the EU’s rules on international transfers of personal data under the EU’s General Data Protection Regulation and, more recently, the European Court of Justice’s decision in Schrems II.
BVI Mutual Funds June regulatory deadlines
Private, professional and public funds should be aware of the following deadlines for filings to be made with the Financial Services Commission (FSC).
BVI Private Investment Funds June Regulatory Deadlines
Private Investment Funds with a 31 December year-end should be aware that audited financial statements must be filed with the Financial Services Commission (FSC) by 30 June 2022.
EU adopts sixth package of sanctions targeting Russia and Belarus
On 3 June 2022, the European Council announced its decision to adopt the sixth package of economic and individual sanctions targeting both Russia and Belarus. The package includes a series of measures intended to effectively prevent Russian abilities to continue the aggression against Ukraine.
BVI Approved Manager: June filing deadline
Approved managers with a 31 December year-end should be aware that financial statements must be filed with the Financial Services Commission by 30 June 2022.
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