FSB recognises Bermuda, BVI and Cayman for strong adherence to regulatory standards
The Financial Stability Board (FSB) has named Bermuda, the British Virgin Islands (BVI) and the Cayman Islands to its list of jurisdictions demonstrating sufficiently strong adherence to regulatory and supervisory standards on international co-operation and exchange.
In a report released last month, the FSB provided an update on its initiative to encourage global adherence to international standards, focusing on the areas of banking supervision, insurance supervision and securities regulation…
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Cayman Islands Law Update: the Exempted Limited Partnership Bill and the Contracts (Rights of Third Parties) Bill
Following extensive consultation in both the public and private sectors, the Exempted Limited Partnership Bill 2014 was gazetted on 21 February 2014.
The court looked at the issue of whether a stranger to a trust, who dishonestly assists in a breach of trust, is a ‘trustee’ within the meaning of s21(1)(a) of the UK Limitation Act 1980.