Regulatory

Blog

Regulatory

The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Cyprus and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.

Contributors

Aki Corsoni-Husain
Aki Corsoni-Husain
  • Aki Corsoni-Husain

  • Partner
  • Cyprus
George Apostolou
George Apostolou
  • George Apostolou

  • Partner
  • Cyprus
Chiara Deceglie
Chiara Deceglie
  • Chiara Deceglie

  • Partner
  • Luxembourg
Massimiliano della Zonca
Massimiliano della Zonca
  • Massimiliano della Zonca

  • Senior Associate
  • Luxembourg
Philip Graham
Philip Graham
  • Philip Graham

  • Partner
  • British Virgin Islands
Ayana Hull
Ayana Hull
  • Ayana Hull

  • Counsel
  • British Virgin Islands
Katerina Katsiami
Katerina Katsiami
  • Katerina Katsiami

  • Associate
  • Cyprus
Petros Kiteos
Petros Kiteos
  • Petros Kiteos

  • Associate
  • Cyprus
Andrew Knight
Andrew Knight
  • Andrew Knight

  • Partner
  • Luxembourg
Joshua Mangeot
Joshua Mangeot
  • Joshua Mangeot

  • Counsel
  • British Virgin Islands
Mirza Manraj
Mirza Manraj
  • Mirza Manraj

  • Counsel
  • Hong Kong
Elina Mantrali
Mirza Manraj
  • Elina Mantrali

  • Associate
  • Cyprus
Vanessa Molloy
Vanessa Molloy
  • Vanessa Molloy

  • Partner
  • Luxembourg
Andrea Moundi Savvides
Andrea Moundi Savvides
  • Andrea Moundi Savvides

  • Consultant
  • Cyprus
Marina Stavrou
Marina Stavrou
  • Marina Stavrou

  • Associate
  • Cyprus
Matt Taber
Matt Taber
  • Matt Taber

  • Partner
  • Cayman Islands
Carolynn Vivian
Carolynn Vivian
  • Carolynn Vivian

  • Senior Associate
  • Cayman Islands

The EU Finance Ministers decide on AML

On 3 November 2020, the European Union finance ministers examined the draft conclusions of the Council on countering money laundering and terrorist financing, which aim to provide the Commission with guidance in advance of its legislative proposals in 2021 on a single rule book, EU-level supervision and a coordination and support mechanism for member states' financial intelligence units.

Andrea Moundi Savvides

EU: Alexandr Lukashenko and 14 other officials sanctioned

On 6 November 2020, EU Council added 15 members of the Belarusian authorities, including Alexandr Lukashenko as well as his son and national security adviser Viktor Lukashenko, to the list of individuals sanctioned in relation to the violent repression and intimidation of peaceful demonstrators, opposition members and journalists after the 2020 presidential election in Belarus by adopting Council Implementing Regulation (EU) 2020/1648 and Council Implementing Decision (CFSP) 2020/1650.

Aki Corsoni-Husain

Tax offences and the BVI’s anti-money laundering regime

In the EU, tax crimes such as tax related fraud, evasion and false accounting were added to the roster of offences on which prosecutions for money laundering could be based as of the Fourth AML Directive in 2015 – however, and despite less fanfare, the BVI has long taken this position.

Mirza Manraj, Marina Stavrou