CP140: Consultation on new cross-industry operational resilience guidance

The Central Bank is aware of an array of disruptive events financial services firms face daily including technology failures; cyber incidents; the COVID-19 pandemic and natural disasters which affect the delivery of critical or important business services. CP140 aims to enhance the industry’s operational resilience – that is, the ability to identify and prepare for, respond and adapt to, recover and learn from an operational disruption.

Related briefings

The Regulatory 15/15: May 2021

This month’s webcast covers the following Cayman Islands topics: CIMA Inspections of SIBA Registered Persons; Department of International Tax Cooperation (“DITC”) – Updates Bulletin – 15 April 2021; Economic Substance; and Monthly New Product

BVI Commercial Court confirms implied cross undertaking in damages in receivership order

In a recent ex tempore judgment of Wallbank J in the long-running matter, JTrust Asia Pte. Ltd v Mitsuji Konoshita and Anor BVIHC(COM)2017/0226, the British Virgin Islands Commercial Court has, in a first for the Territory, determined that a cross undertaking in damages will be implied into a receivership order unless the usual requirement it be provided was expressly considered and dispensed with by the Court when the order was made.

Costs risk in appeals from the Irish tax appeals commission

The Finance (Tax Appeals) Act, 2015 introduced a new architecture for the hearing and determination of tax appeals. Amongst other changes, the Tax Appeals Commission (the “TAC”) replaced the Appeal Commissioners, with appeals directly to the High Court only on question(s) of law arising from the TAC’s determination (a ‘case stated’), rather than to the Circuit Court on the basis of a full rehearing of the tax appeal.

Latest Briefings

Prospects for trans-Pacific investment boosted

On 2 June 2021, four months after the UK’s formal application, it was announced the UK can start the process of joining the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”).

Greenwashing and consumer protection: What businesses need to know

Businesses which make claims about their ‘green’ credentials in order to promote products or services need to ensure, more than ever before, that they do not fall foul of consumer legislation. Gwendoline Davies and Nick McQueen explain and offer practical advice.

Taking stock: Global private equity perspectives

This briefing discusses the special purpose acquisition company (SPAC) market in Luxembourg, the demand for Jersey Private Funds, and why the pressure is on to take environmental, social and governance (ESG) seriously.


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