Regulatory investigations in Guernsey

Guernsey licensees regulated by the Guernsey Financial Services Commission have routine visits by the GFSC to check on their compliance with the local regulatory law, regulations and rules.

Related briefings

The changing ESG landscape: keeping Guernsey ahead of the curve

Instead of fading out as a result of the global health crisis, there has been a marked expansion in funds with a strong sustainable focus – answering the calls of investors for the recovery from the pandemic to be green. But with this has come an ever-changing regulatory landscape.

BVI Incubator and Approved Funds – when and how to convert

In 2015, the Financial Services Commission (FSC) of the British Virgin Islands (BVI) introduced two new fund regimes to provide an efficient route for start-up managers to establish a track record and for smaller funds with friends and family money to establish open ended funds, being the Incubator Fund regime and the Approved Fund regime respectively.

Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?

While SPACs have existed for decades on public markets, a revival seems to be taking place, with SPACs representing about 60 percent of IPOs in the US in 2020. February 2021 saw the launch of the first Luxembourg SPAC in more than 10 years, highlighting the potential for Luxembourg to become the European hub for this type of funding structure. The jurisdiction not only offers a flexible and tax efficient legal framework but also the ability to rely on the European passport mechanism set forth in the Prospectus Regulation.

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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Slaughters adds City quintet to partnership

Slaughter and May has promoted two lawyers to partner in its financing group, along with other promotions in corporate, IP and disputes. The firm’s group of five is just three fewer than in 2020 when eight made the cut.  They are understood to have all trained at Slaughters, apart from Charlie-McGarel Groves in financing, who […]

Knights continues growth spurt with Mundays acquisition

Knights has acquired Surrey-based commercial firm Mundays as it continues its rapid expansion. The latest addition follows the listed firm’s acquisition of two firms in the UK 100-200 bracket this time last year – Shulmans of Leeds and ASB Law of Crawley. The previous month it took over Fraser Brown Solicitors in Nottingham. The ASB […]

Allen & Overy

A&O in line to save £155m as firm plans office cuts

Ahead of an anticipated reduction in office space, Allen & Overy (A&O) has said it expects to save £155.3m if it terminates certain lease contracts early. A change in accounting rules means law firms are required to report on how they treat office leases around the world where they can leave earlier than the full […]

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