Philip Graham

Philip Graham

Harney Westwood & Riegels

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BVI court ruling highlights potential risk in some standard form M&As

On 19 March 2014 the Commercial Court handed down its ruling in C v W Inc (BVIHC (Com) 2013/149). In that case a shareholder holding more than 30 per cent of the company’s shares tried to exercise its power to requisition a...more

3/28/2014 - Business Companies Act BVI Business Companies Shareholder Litigation Shareholders

The British Virgin Islands and Investment Funds

This guide provides an overview of the various investment fund vehicles available in the British Virgin Islands (BVI). It concentrates on regulated investment funds and, in particular, hedge funds, since these constitute a...more

2/10/2014 - BVI Business Companies Hedge Funds Investment Funds

Guide to the British Virgin Islands Approved Manager Regime

This guide provides an overview of the British Virgin Islands’ Approved Manager regime. The regime came into effect on 10 December 2012 with the Investment Business (Approved Managers) Regulations, 2012 (the “Regulations”)...more

1/6/2014 - Approved Managers Foreign Bank Accounts Fund Managers Offshore Banks Offshore Funds SIBA

The British Virgin Islands and AIFMD: Ready for Business

The British Virgin Islands (BVI) is the world’s second largest domicile of offshore investment funds and a leading international finance jurisdiction known for effective regulation and products which are flexible and...more

7/31/2013 - AIFMD Deadlines EU Fund Managers

Cayman and BVI sign MOUs with 25 European countries

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

7/15/2013 - AIFMD BVI Business Companies EU Memorandum of Understanding

Update on the Alternative Investment Fund Managers Directive

Harneys’ reaction to the Press Release from the European Securities and Markets Authority (ESMA) dated 30 May 2013 - Introduction - It has been announced today that ESMA has approved co-operation arrangements...more

5/31/2013 - AIFM AIFMD ESMA EU

Focus On British Virgin Islands Regulation

Originally published on HFM WEEK.COM - 31 JAN - 6 FEB 2013. As a new ‘regulation light’ fund manager regime is launched in the British Virgin Islands, eligible fund managers can now count on a simpler application...more

2/19/2013 - Approved Managers Fund Managers Licenses Private Equity Venture Capital

The British Virgin Islands and Investment Funds

This Guide provides an overview of the various investment fund vehicles available in the British Virgin Islands. This Guide concentrates on regulated investment funds and, in particular, offshore hedge funds, since these...more

1/22/2013 - Financial Services Commission Foreign Investment Hedge Funds Investment Fund Vehicles Limited Partnerships Offshore Companies Public Funds SIBA

Changes to SIBA's 'significant interest' provisions

An important part of the assessment of an applicant for a SIBA licence is to consider the fit and proper status of the persons who ultimately own and exercise control of the licensee. Section 11 of SIBA has always required...more

1/21/2013 - Investment Adviser Licenses Securities SIBA Significant Interest Written Consent

AIFMD: Level 2 Regulation adopted by the European Commission

Harneys continues to monitor developments related to the EU’s AIFMD with a focus on how it will affect our clients in the Cayman Islands and BVI. The most significant recent development is that the AIFMD Level 2 Regulation...more

1/18/2013 - AIFMD EU European Commission Investment Adviser

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