Litigation funding in the Cayman Islands – The new Private Funding of Legal Services Act

Litigation funding in the Cayman Islands – The new Private Funding of Legal Services Act

The Cayman Islands will imminently welcome the Private Funding of Legal Services Act into force, bringing certainty and clarity to the availability and acceptable form of disputes funding arrangements in the jurisdiction.
Financial sanctions update

Financial sanctions update

On 8 January 2021, the Office of Financial Sanctions Implementation HM Treasury issued 3 Financial Sanctions Notices relating to Syria, Russia and Chemical Weapons.
BVI FSC enters into statement of cooperation with Abu Dhabi Global Market Registration Authority

BVI FSC enters into statement of cooperation with Abu Dhabi Global Market Registration Authority

On 3 December 2020, the BVI Financial Services Commission (the BVI FSC) entered into a statement of cooperation with the Abu Dhabi Global Market Registration Authority. The BVI FSC and the ADGM, in recognition of the increasingly international and cross-border nature of business, wish to facilitate the development of broader and closer cooperation between the two jurisdictions in a mutually beneficially manner.
Cyprus tax authorities provide updates on DAC 6 implementation and reporting

Cyprus tax authorities provide updates on DAC 6 implementation and reporting

On 5 January 2021, the Cyprus Tax Department issued two announcements on the local implementation of Council Directive (EU) 2018/822 on the mandatory automatic exchange of information in relation to reportable cross-border arrangements, more generally known as DAC 6.