Latest Briefings

Bermuda: Three-day registration for special purpose insurers issuing bonds

Bermuda has always provided an efficient process for insurance submissions of all classes, with applications being approved in under two weeks. On 20 August 2021, the Bermuda Monetary Authority issued a notice announcing that enhancements have been made to allow further streamlining of the registration process for Restricted Special Purpose Insurers (“R-SPI”). Now, the licensing and registration processes of R-SPI registrants whose business model is to issue bonds (e.g. catastrophe bonds and mortgage bonds) will be consolidated and registrants can be fully registered within three business days.

What is the “new normal”?

Sheldon Mills, the FCA’s Executive Director (Consumers and Competition) gave a speech to the Investment Association’s Culture in Investment Management Forum on Wednesday last week.

Portugal: Rent updating coefficient to apply in 2022

Under article 24 of Law 6/2006 of 27 February, which approved the New Urban Renting Rules, and article 11(5) of Decree-Law 294/2009 of 13 October, which approved the New Rural Renting Rules, the National Statistics Institute is responsible for calculating the annual rent update coefficient applicable to urban and rural leases. This coefficient must then be published in a notice appearing in the official gazette, Diário da República, no later than 30 October of each year.

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