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
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

  • Counsel
  • Cayman Islands

Luxembourg’s CSSF publishes FAQs on the application of MiFID to Investment Fund Managers

On 10 June 2021, the Commission de Surveillance du Secteur Financier (CSSF) published Frequently Asked Questions (FAQs) on the application of MiFID to Luxembourg Investment Fund Managers (IFMs). The CSSF FAQs aim to clarify under what circumstances and to what extent MiFID applies to IFMs, their third-party delegates and their investment advisers.

Vanessa Molloy, Victor Le Pape

Luxembourg’s CSSF updates its FAQ on the status of Professionals in the Financial Sector

On 15 June 2021, the Commission de Surveillance du Secteur Financier (CSSF) published updated Frequently Asked Questions (FAQs) on the status of Professionals of the Financial Sector (PFS) with respect to the PFS status relating to the granting of loans to the public, as per Article 28-4 of the Law of 5 April 1993 (here) on the financial sector (LFS).

Vanessa Molloy, Victor Le Pape

BVI introduces data protection regime

On 6 April 2021, the BVI government passed the Data Protection Act (the DPA). The DPA was published in the gazette on 13 April 2021 but has not yet come into force – it will come into force on a date to be determined by the government and this is expected imminently.

Philip Graham, Aki Corsoni-Husain,
Ayana Hull, Mirza Manraj,
Adam Legge

BVI FSC issues Q4 2020 Statistical Bulletin

The BVI Financial Services Commission has issued Volume 61 of the Statistical Bulletin for the quarter ended December 2020. The bulletin covers all of the regulated sectors in the BVI’s financial services industry inclusive of the Registry of Corporate Affairs.

Mirza Manraj, Ayana Hull

Cayman Islands private funds - audit and FAR filing deadline extended

The Cayman Islands Monetary Authority (CIMA) have advised they expect to release the private funds FAR form by 30 June 2021. Accordingly, the deadline for filing both the Fund Annual Return (FAR) form and the audited financial statements has been extended to 30 September 2021 for all private funds with a financial year end of 31 December 2020 or earlier.

Carolynn Vivian