Enforcement of share security in Jersey and Guernsey – five key considerations

The judgments in the few Jersey cases that exist relating to the enforcement of security have clarified some key points and expanded on the principles relevant to a secured party discharging its statutory duties.

Related briefings

Major amendments to BVI’s trusts laws

The Trustee (Amendment) Act, 2021 came into force on 9 July 2021 introducing a range of important new and updated provisions into the BVI’s Trustee Act, 1961. The amendments move the BVI’s trusts regime into line with, and in certain aspects ahead of, its competitor jurisdictions in the offshore trusts marketplace. The principal changes include: powers of the court to vary trusts without beneficiary consent; setting aside the flawed exercise of a fiduciary power; extending the firewall; reserving trust powers; and record-keeping obligations for trustees.

Guernsey’s data protection regulator approves new EU standard contractual clauses

The Office of the Data Protection Authority (“ODPA”) in Guernsey has approved the European Commission’s new standard contractual clauses (“New SCCs”) for the international transfer of personal data to ‘third countries’ which have not yet adopted data protection legislation that is equivalent to the EU’s General Data Protection Regulation and so are not yet considered to have ‘adequacy’.

Guernsey consolidates economic substance and extends it to partnerships

Guernsey has brought partnerships into scope of economic substance requirements for accounting periods commencing on or after 1 January 2022, although partnerships formed on or after 1 July 2021 will be in scope immediately on formation where they conduct activities that trigger the economic substance requirements.

Cross-Border Distribution of Funds 101: Part 1 – Pre-marketing

Our latest advisory series considers the key changes being introduced as part of the EU’s framework for the cross-border distribution of investment funds. This framework, comprising a Directive and accompanying Regulation, has the objective of removing regulatory barriers that were identified as significant disincentives to UCITS management companies and AIFMs who wish to avail of the marketing passports for both UCITS and AIFs. This first part of our advisory series focuses on the pre-marketing requirements being introduced in respect of AIFs.

Jersey employment law update: paid leave, holidays and time limits

One of the key differences between Jersey employment law and that of the UK or Guernsey is in respect of holiday entitlements – a subject squarely at the top of many HR leaders’ agendas as we head into holiday season with Covid-19 travel restrictions changing almost weekly. A recent case from the Jersey Employment Tribunal focuses on two issues – entitlement to paid bank holidays, and claims for unpaid holidays.

Latest Briefings

Funds & Investment Management Update – Ireland and Luxembourg – Q2 2021

This quarter’s highlights include the coming into force of the Investment Firms Directive and the Investment Firms Regulation, a number of AML developments, ESMA’s publication of funds’ marketing communications guidance and the CBI’s call for UCITS managers to review their liquidity risk management frameworks. Other notable developments include the CSSF’s updated guidance on granting loans to the public and updates to its UCITS and AIFM FAQs, the publication of a Circular on remote working as well as further EU sustainable finance developments.

The ILC Articles at 20: Introduction to the Symposium by Prof. Christian Tams and Dr Federica Paddeu

The Articles on the Responsibility of States for Internationally Wrongful Acts (Articles), developed by the International Law Commission (ILC), turn 20 this year. On 9 August 2001 – 45 years after the first report by Special Rapporteur Francisco García-Amador on the topic, after 5 Special Rapporteurs and 34 reports by them – the ILC adopted the final text of the Articles, thus bringing to an end work that (in the words of Rosalyn Higgins) were it not for the Commission‘s broad understanding of responsibility, ‘should on the face of it [have] take[n] one summer’s work’.

Scaling expertise through digital solutions

Neota Logic provides the ability to scale access to expertise through automation solutions using its no-code platform, making it an easier, faster and less expensive way to engage your stakeholders.

Portugal: Managing the Impacts of COVID-19

The COVID-19 pandemic has led to the adoption of legal measures that have a profound impact on businesses in different sectors and on society at large. The implications are broad and complex and we are committed to focusing our knowledge and experience to help you navigate these legal issues as they arise.

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