CySEC has since issued further guidance on the Directive in Circular No C117 (Circular) to clarify the provisions of the Directive.

Segregated Portfolio Companies (SPCs) are well recognised and widely used corporate vehicles, and the BVI is seeing increasing demand for them in the funds context.

On Thursday 5 December the ECSC Court of Appeal handed down an order bringing much needed clarity to the Eastern Caribbean Civil Procedure Rules (the CPR) relating to service out of foreign judgments and arbitral awards. The previous restrictive reading of the BVI CPR had led to the situation that foreign judgments obtained in all but a small number of countries could not be enforced in the BVI because there was no "gateway" to provide for service out of the jurisdiction.

On 18 January 2024, the European Council and Parliament reached a provisional agreement on an anti-money laundering package to protect the EU and its financial system.

A spotlight has been shone in recent years on the wellbeing and mental health of legal professionals, and rightfully so. Being a legal professional is a stressful job that is often...

Harneys' affiliate office Zuill & Co contributed "Bermuda: Restructuring & Insolvency" in The In-House Lawyers, Restructuring & Insolvency Country Comparative Guide.

Harneys has recently acted for a client and obtained an order from the BVI High Court for the appointment of a liquidator over a re-insurance company under the BVI Insolvency Act.

The long-anticipated BVI International Arbitration Centre is expected to open next month, providing arbitration services in multiple languages from within the British Virgin Islands.

This update sets out key dates and developments that have changed since then.

The BVI Government has passed new rules governing applications for Grants of Probate and Letters of Administration.

On 19 January 2024, the European Union published Council Regulation (EU) 2024/386, establishing a dedicated framework of restrictive measures specifically targeting individuals or entities that support.

The European Data Protection Board (EDPB) recently introduced a website auditing tool to improve compliance with the General Data Protection Regulation.

Effective 1 January 2025, the Cayman Islands Monetary Authority (CIMA) and General Registry have implemented updated government fees for various services.

The Government of the British Virgin Islands has recently enacted legislation setting a minimum compulsory retirement age for employment law purposes, subject to certain exceptions. This is the first such measure in the Territory's history.

On 30 January 2025, the BVI Financial Services Commission (FSC) and the Financial Investigation Agency (FIA) announced that they are conducting a survey to assess the impact of their guidance documents.

Cayman and BVI financial services regulators have announced Memoranda of Understanding with 25 European countries which will enable the continued marketing of Cayman Islands and BVI funds throughout the majority of European Union.

I had the pleasure of being interviewed by Hedgeweek recently regarding the success of the BVI's two new funds products focused at the start-up manager; the incubator and approved funds.

On 31 January 2024, a Memorandum of Understanding (MoU) between the BVI Financial Services Commission (FSC) and the BVI Financial Investigation Agency (FIA)...

On 16 January 2024, the BVI Financial Services Commission announced the release of updated annual return forms, in an effort to enhance reporting efficiency...

In this episode of Piano Lessons, Partner Philip Graham, Counsel Marc Piano, and Petri Basson, founder and principal of Lemma and Chairman of the Blockchain Association of the Cayman Islands discuss five key topics.