Regulatory Blog

On 30 July 2025, the Bermuda Monetary Authority published a discussion paper on the responsible use of Artificial Intelligence in Bermuda's financial services sector.

Effective 27 June 2025, the Cayman Islands Monetary Authority updated its Regulatory Handbook and Enforcement Manual.

On 24 July 2024, the Jersey Financial Services Commission published significant enhancements to the Jersey Private Fund regime, set to take effect on 6 August 2025. These updates are designed to strengthen the framework and ensure it remains aligned with the evolving needs of international professional investors.

On 9 July 2025, the Cyprus Securities and Exchange Commission issued Circular C721 to clarify the application of Section 62(2) of the Prevention and Suppression of Money Laundering Activities Law.

On 31 July 2025, the Bermuda Financial Sanctions Implementation Unit introduced a new subscription service to keep supervised entities informed and compliant with evolving sanctions regulations.

The Central Bank of Cyprus introduced three significant directives, effective from 2025, aimed at strengthening the regulatory framework governing Electronic Money Institutions and Payment Service Providers. These directives are designed to ensure compliance with European Union standards, enhance governance, and safeguard financial stability. Below is a detailed overview of the directives:

On 17 June 2025, the Jersey Financial Services Commission published findings from its 2024 compliance monitoring thematic examination, which assessed firms’ adherence to Principle 3 of the sector-specific Codes of Practice and Section 2 of the AML/CFT/CPF Handbook.

The Cayman Islands Monetary Authority reinforced its commitment to the jurisdiction’s financial integrity through the recent issuance of several decision notices. These notices are the result of breaches of regulatory laws and requirements by various entities and individuals.

Bermuda's commitment to global security is reflected in the framework laid out in its General Guidance on Countering the Financing of Proliferation of Weapons of Mass Destruction. Developed by the Financial Sanctions Implementation Unit, this guidance outlines the critical responsibilities of individuals and entities in combatting proliferation financing and ensuring compliance with Bermuda’s sanctions regime.

The BVI’s Financial Investigation Agency has notified all reporting entities that, effective 1 January 2026, the filing of Suspicious Activity Reports and Suspicious Transaction Reports must be conducted exclusively through the AMLive Portal. This requirement aligns with section 17 of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008 (as amended), which mandates electronic reporting via a secure system as prescribed by the FIA.

On 15 and 16 June 2025, the Republic of Cyprus and the Republic of India reaffirmed their strategic partnership during the official visit of Indian Prime Minister Shri Narendra Modi to Cyprus. This milestone visit, the Indian Prime Minister’s first visit to Cyprus in over 20 years, highlighted the nations’ shared commitment to advancing cooperation in economic, technological and global matters.

On 24 July 2025, a key bill of law was brought before the Luxembourg Parliament introducing a proposal designed to rejuvenate the carried interest tax framework for managers of Luxembourg alternative investment funds. With its sights set on fiscal year 2026, this initiative intends to modernise the tax regime, enhancing Luxembourg’s ability to attract talented professionals in the competitive AIF sector.