Caymans: Update on automatic exchange of information and country-by-country reporting

In this advisory, we provide a round-up of recent updates to the Cayman Islands framework for automatic exchange of information and country-by-country reporting, including the new universal DITC portal, the AEOI reporting deadline extension, the authorising person and principal point of contact and the CRS compliance form.

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Ireland Update: How to fairly dismiss an employee in a controlled function

In this advisory we examine two recent cases of the Labour Court and Workplace Relations Commission and highlight what regulated employers should do to successfully defend unfair dismissal claims by senior employees. In both cases, the employees were performing a control function role under the Central Bank of Ireland’s Fitness and Probity regime.

A just and equitable decision: Cayman Court of Appeal defines limits of arbitration in a winding up

On 23 April 2020, the Cayman Islands Court of Appeal (“CICA”) delivered an important decision in the case of Re China CVS (Cayman Islands) Holding Corp., which focussed on the question of arbitrability of shareholder petitions for the winding up of a company on the just and equitable ground. The CICA (Moses JA, Martin JA and Rix JA) unanimously determined that the petition in question was not arbitrable, thus overturning the first instance decision of Kawaley J, which formed the subject of our bulletin “Court Grants Mandatory Arbitration Stay in Winding Up Proceedings”.

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The accountant and Al Capone

The story of how forensic accounting brought down one of America’s most famous Gangsters Al Capone famously said that “you can get more with a kind word and a gun than with a kind word alone”. But when it came to catching him, all it took was diligent and skilled forensic accounting, explains Tristan Yelland.

Investigations: new forensic accounting podcast

This Investigations podcast series looks at the complex role of the forensic accounting investigator. Grant Thornton speaks to prominent investigators who have grappled with a variety of situations to understand the key lessons they’ve learned, what propelled them to be where they are today and the advice they’d pass on to their younger selves.

Duty to report under Article 74 FinIA – planning tool for FINMA or (maybe) more?

FinIA has consolidated the authorisation regime for all financial institutions (except for banks which remain to be regulated under the Banking Act) and has extended this regime to independent asset managers and trustees. Even though the new law provides for a smooth transitional period enabling financial institutions to cope with the new regulation, asset managers and trustees now falling under the new regime are or have been required to file a report with the Swiss regulator FINMA. This article outlines the duty to report and its consequences.

Reducing UK emissions: 2020 progress report to Parliament

The Committee on Climate Change’s 2020 report to Parliament calls on the government to redouble its efforts and expands on its May 2020 advice to the Prime Minister in which it set out the principles for building a resilient recovery. The report highlights five clear investment priorities.

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