Legal & Regulation

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BVI funds - a smart bet in uncertain times

BVI funds - a smart bet in uncertain times

By Christopher Simpson & Kerry Anderson – News outlets, including The Guardian and CNBC, were reporting and market watchers were opining in early 2019 that a slowing world economy forebodes a major global economic shift – possibly another recession. By mid-August, the concern found renewed attention when analysts pointed to an inverted yield curve in the United States Government bond market as a historical precursor to a recession. 

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Opportunities for private clients in the BVI

Opportunities for private clients in the BVI

By Ian Montgomery, Partner, Collas Crill – A new generation of offshore incorporations: Succession planning for offshore incorporations, particularly those where companies are controlled by one individual, needs careful consideration. Problems can arise where a significant proportion of shares in a BVI company are held by a foreign-domiciled deceased individual with a foreign will or no valid will at all, particularly where the deceased was the sole director of the company.

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The BVI approved manager - a tailored solution for start-up managers

The BVI approved manager - a tailored solution for start-up managers

By Paul Waldron (pictured), Harneys BVI – The BVI approved manager product, first introduced in 2012, continues to be a popular choice with start-up and emerging managers all over the world. It was introduced as an alternative to the full investment management licence available under the Securities and Investment Business Act, 2010 (SIBA) in the BVI, which remains a robust product ideally suited to institutional managers.

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The importance of a tried and tested jurisdiction

The importance of a tried and tested jurisdiction

By Simon Gray, BVI Finance – While the popularity of the British Virgin Islands (BVI) as a centre for hedge funds is testament to the ease and cost-effectiveness of establishing funds in the jurisdiction, the quality and sophistication of its legislative, regulatory and judicial framework is also a significant reason for managers choosing to set up their funds in the BVI.

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BVI to embrace digitalisation to further innovate funds industry

BVI to embrace digitalisation to further innovate funds industry

The theme of digitalisation took centre stage at the annual Meet the Regulator Forum held by the BVI’s financial regulator, the Financial Services Commission (‘FSC’) this July. During the forum, Deputy Managing Director, Corporate Services of FSC, Jennifer Potter-Questelles emphasised the importance of embracing digitalisation, stating that “digitalisation is our ticket” and that as the FSC continues to innovate, so the industry is encouraged to do the same at all levels of their organisations. 

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SEC Chairman says Dodd-Frank Act whistleblower program is ‘invaluable component’ in tackling securities fraud

SEC Chairman says Dodd-Frank Act whistleblower program is ‘invaluable component’ in tackling securities fraud

The Chairman of the US Securities and Exchange Commission (SEC), Jay Clayton, has backed the Dodd-Frank Act’s whistleblower reward law, saying that the whistleblower program is an “invaluable component” to the Commission’s “enforcement efforts.” 

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Technology investment and legal changes

Technology investment and legal changes

Harneys: Best Offshore Law Firm – Laws in several financial jurisdictions, such as Luxembourg, BVI, Cayman Islands and Cyprus, are constantly changing. To ensure law firms uphold best practice at all times they require a combination of a strong team, robust communication, systems and practices. In addition, crucial investment in technology can help enhance a firm’s service offering further.