Offshore financial centres are liable to come under increasing pressure from tax authorities worldwide in the wake of the US Senate investigation i
The Financial Services Authority (FSA) has fined Dr Sandradee Joseph GBP14,000 and banned her from performing any significant influence function in regulated financial services for breaching Principle 6 of the FSA’s Statements of Principle for Approved Persons. Joseph was Compliance
Providing some respite for the beleaguered Swiss banking giant, a New York Supreme Court judge has dismissed a lawsuit alleging that UBS was responsible for regulatory failings on the part
The US Securities and Exchange Commission has extended the order first issued on July 15 barring so-called naked short-selling in the securities of financial institutions to which the Fede
Q&A with Gary Smith, Partner, Loeb Smith Attorneys Could you briefly explain the concept of the Segregated Portfolio Company? Once registered under the Cayman Islands Companies Law, a segregated portfolio company (“SPC”) can operate segregated portfolios (“SPs”) with the benefit
The Caribbean Financial Action Task Force’s mutual evaluation of the Cayman Islands at the end of 2017 led to a revision of the jurisdiction’s anti-money laundering (AML) regulations and was the catalyst for the new Cayman AML guidance. The CFATF
The US Attorney for the Eastern District of Texas has laid a three-count federal criminal charge against George D.
2018 was an extremely busy year for Walkers, one of the Cayman Islands’ leading international law firms. The firm saw a tremendous amount of activity in private equity and related downstream corporate work, while with respect to hedge funds the
The National Securities Clearing Corporation (NSCC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to provide its members with a new tool designed to serve as an early warning system that alerts those firms to
Diamondback Capital Management LLC has agreed to pay more than USD9 million to settle insider-trading charges brought by the SEC on 18 January. The proposed settlement is subject to the approval of Judge Paul G Gardephe of the US District
