Cayman Islands Economic Substance Filing Deadline Looms Large for IP Companies and TROs

The Cayman Islands Department for International Tax Cooperation’s online portal (“DITC Portal”) opened in January 2021 to facilitate economic substance reporting to the Cayman Islands Tax Information Authority pursuant to the International Tax Co-operation (Economic Substance) Act (2021 Revision) (the “ES Act”).

Related briefings

BMA proposes internationally active insurance group concept for Bermuda

In December 2020, as part of its review to update Bermuda’s commercial insurance regime, the Bermuda Monetary Authority issued a consultation paper proposing the introduction of an Internationally Active Insurance Group concept to meet the principles and standards of the International Association of Insurance Supervisors’ Common Framework.

Insurance Bulletin Spring 2021

Although the full impact of Covid-19 on the re/insurance industry remains unclear, the need to retain capital to meet potential losses has contributed to a general hardening of the market after 15 years of soft market conditions characterised by excess capacity, low prices and more relaxed policy terms.

Private Client Bulletin – April 2021

The fourth edition of Private Client Bulletin brings you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia.

Cayman Islands private client legislative update

It’s trite to say that 2020 was a year marked by change. Having being bombarded with a variety of unsolicited adjustments to our daily lives, we could be forgiven for having developed a collective fear of change over the last 12 months. Fortunately, the legislative changes affecting Cayman Islands’ trust and private wealth practitioners do not align with the general trend of 2020. On the contrary, the pace and direction of change has been much more palatable as legislators have continued with the incremental modernisation of the Cayman Islands’ trusts law and related legislation.

Latest Briefings

Irish regulation in focus: Culture and individual accountability

Increasingly, there is a focus on culture and individual accountability in regulated firms. This has been heightened by various consumer protection issues which have been investigated including the tracker mortgage examination; high profile enforcement actions and the recent engagement with insurers on business interruption cover during COVID-19. Consistently, the Central Bank of Ireland (“Central Bank”) […]

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Simpson Thacher

Simpson Thacher expands PE ranks with Blackstone hire

Simpson Thacher & Bartlett’s London office has strengthened its ties to Blackstone, by adding its EMEA general counsel as a partner. Geoffrey Bailhache will join Simpson from Blackstone, where he was its managing director and general counsel for Europe, the Middle East and Africa. He provided transactional advice for Blackstone’s PE and tactical opportunities business, […]

magazines

Reed Smith and A&O lead on New Scientist sale

Reed Smith, Allen & Overy and Freshfields Bruckhaus Deringer have acted on Daily Mail and General Trust’s (DMGT) £70m acquisition of New Scientist. DMGT instructed co-chair of Reed Smith’s global corporate group Delphine Currie on the purchase, alongside senior associate Daryl Cue and client relationship partner Lawrence Radley. The Daily Mail publisher picked up the […]

DWF recruits new legal chief after Ocado move

DWF has found its next general counsel, one month after the exit of longtime legal head Mollie Stoker to Ocado. The listed firm has recruited Darren Drabble as its new GC and company secretary, who led for more than a decade the legal function of listed price comparison company Moneysupermarket.com and most recently headed Cheshire-based […]

Cannon Place

CMS extends sabbaticals to new partners

CMS is extending the option to take sabbaticals to the newest members of its partnership, as the business world moves toward more flexibility and balance between life and work as a result of the pandemic. Sources told The Lawyer that the firm had been mulling the idea of providing this opportunity to its younger partners […]

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