Boosting African fintech investment

New regulations in the British Virgin Islands are transforming the offshore centre into an international fintech hub—and African companies could benefit.

Related briefings

Modernisation of the British Virgin Islands trust legislation

Legislative amendments to the British Virgin Islands trust legislation took effect on 9 July 2021 under the Trustee (Amendment) Act, 2021. The reforms introduce welcome improvements to the BVI’s Trustee Act and ensure that the BVI remains a leading offshore jurisdiction for the establishment, administration, and maintenance of trusts.

Economic Substance Requirements to apply to ALL Bermuda partnerships

The Economic Substance Amendment Act 2021 was enacted on 30 June 2021, bringing within scope of the Economic Substance Act 2018 all Bermuda partnerships and overseas partnerships registered in Bermuda that are engaged in a relevant activity, including those partnerships without separate legal personality.

Latest Briefings

CSSF clarifies MiFID application to Luxembourg investment fund managers

On 10 June 2021, the Luxembourg Financial Sector Supervisory Authority (the CSSF) issued new versions of (i) its frequently asked questions relating to the Law of 17 December 2010 on undertakings for collective investment and (ii) its FAQs covering the Law of 12 July 2013 on alternative investment fund managers. Both FAQs have been updated following the publication of a FAQ from the CSSF relating to the application of MiFID provisions to Luxembourg Investment Fund Managers.

Government responds to consultation on changes to the Teachers’ Pension Scheme – key points for independent schools

The Government has issued its response to the recent consultation on changes to the Teachers’ Pension Scheme (TPS), set out in the Teachers’ Pensions (Miscellaneous Provisions) (Amendment) Regulations 2021. The consultation response confirms the Government’s plan to allow a phased withdrawal for independent schools from the TPS and provides final detail of the protections available to certain existing TPS members. Phased withdrawal will allow independent schools to gradually leave TPS by continuing to offer TPS membership to existing staff; while having the discretion to not offer TPS membership for new staff. In this article, our pensions experts take a look at the Government response to the consultation and highlight what employers need to know.

Processing Covid-19 vaccination data in the workplace

As the National COVID-19 Vaccination Strategy in Ireland gathers pace, employers are frequently asking whether they can make decisions on who returns to work and when based on an employee’s vaccination status. Employers, in particular, continue to ask whether they can lawfully collect and process information about the vaccination status of their employees. In this client update, we explain the key considerations.

Ontario launches consultation on improving tower crane health and safety requirements

On 14 July 2021, the Ministry of Labour, Training and Skills Development launched a public consultation on Improving Health and Safety Requirements relating to Tower Cranes. The consultation process is aimed at updating and clarifying existing legislative requirements for the operation of tower cranes in the province.

Recommended

Howard Kennedy targets £80m turnover in three years

Howard Kennedy has set its sights on breaking into The Lawyer Top 50, anticipating revenues of £80m and 70 equity partners by 2024. The fresh strategy follows the re-election of managing partner Craig Emden last month, which marks his third term at the helm. Emden predicted revenue would rise by between 4 and 5 per […]

Trends analysis: Court appointed receivers a power drill in your kit

Our “trends” series was born out of a desire to help lawyers with their horizon scanning and assessing potential risks. Each article focuses on a specific area, providing lawyers with quick summaries of some of the challenges heading their way. This next post focuses on the power of a Court Appointed Receiver and was carefully curated by one of our experts Hannah Davie, a director in the insolvency and asset recovery team at Grant Thornton. 

Allen Overy

A&O kicks off magic circle reporting season with PEP hike

Allen & Overy’s average profit per equity partner (PEP) has surged by 17 per cent to hit £1.9m for the first time. PEP increased from £1.63m, having dipped by nearly two per cent over 2019/20. For the last three years, A&O’s PEP has hovered around the £1.6m mark.  In line with this, profit before tax […]

Funding

Augusta bags £250m in latest funding round

Augusta Ventures’ war chest has almost doubled after concluding a round of funding worth £250m. This latest capital raising, which is Augusta’s biggest so far, means the funder now boasts a pot of assets worth £585m to meet increased levels of demand. Augusta’s co-founder and managing director Robert Hanna told The Lawyer that the funder’s […]

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