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This Article examines in summary whether EU-based subsidiaries of the sanctioned Russian state-owned entities listed in Council Regulation (EU) 833/2014 (Regulation 833)

Private Equity Funds and Fund of Funds in China, also known as ‘Sunshine Funds', are growing rapidly. In this guest post, my colleague and Managing Partner of Harneys Shanghai Kristy Calvert explores the reasons behind this trend.

Passporting is currently only available for EU Alternative Investment Funds (AIFs) managed by EU Alternative Investment Fund Managers (AIFMs).

On 13 March 2024, two new UK-Russia sanctions licensing grounds were extended to the UK Overseas Territories: firstly, the UKOT competent authorities (eg BVI, Cayman Islands and Bermuda)...

A discussion following the Press Release from the European Securities and Markets Authority dated 30 May 2013.

In relation to private placements, joint ventures or at times public listings, BVI companies are sometimes structured so as to be able to issue what is known as "blank cheque preferred shares".

The Contracts Law gives third parties the ability to enforce contractual rights expressly granted to them in Cayman Islands law governed contracts to which they are not a party, subject to certain exceptions.

Under most jurisdictions, unless a trust is established for charitable purposes, the assets require to be held for a specific beneficiary or class of beneficiaries.

The recently established Commercial Court in the British Virgin Islands has been busy on a number of important cases and Phillip Kite, global head of litigation at Harneys, discusses two of the distressed fund cases that have recently been decided in the BVI.

The facts behind Mr. Justice Lewison’s recent judgment in Stanford (STANFORD INTERNATIONAL BANK LIMITED [2009] EWHC 1441 (Ch)) have no direct connection with either the British Virgin or Cayman Islands but lawyers there do have particular reason to note the more general principles around the seemingly vexed but important issue of COMI in the context of multi-jurisdictional insolvency.

The British Virgin Islands Financial Services Commission ("FSC") announced on 9 September 2008 the creation of a new Annual Return regime for BVI investment funds.

The cost-benefit analysis of AEOI initiatives will no doubt be debated for many years to come. When considering the impact on the Caribbean region, however, two issues stand out.

One of the reasons why the Cayman Islands is a leading offshore jurisdiction is the flexibility of its companies and partnership legislation.

15 January 2018 - Annual fees paid to CIMA for registered funds1. 31 December 2017 - Cayman Islands funds classified as reporting financial institutions (which will effectively be all investment funds ...

The attractions for international managers, sponsors and investors of the Cayman Islands as the jurisdiction in which to domicile such funds include the stable political environment.

In our previous articles, we considered several fund issues in the context of open-ended funds.

On January 17 2014 the Ministry of Finance published the 25th Decree, as required by Articles 4 and 5 of the Enforcement of Restrictive Measures on Transactions in Case of Emergency Law 2013.

The main problem that the Cypriot economy faced in recent years was the disproportionately big size of the banking sector in relation to the country's GDP.