Today, October 17, 2023, the Registrar of Corporations for the Republic of the Marshall Islands reported the European Union’s (EU) Economic and Financial Affairs Council (ECOFIN) decision to remove the Marshall Islands (RMI)...more
As part of our five year anniversary celebrations of our law firm opening in Bermuda, we put together the original version of this summary report highlighting the latest developments and trends in the Bermuda legal and...more
In late March 2020, we published a note regarding the de-facto “downgrade” of the Cayman Islands by the European Union’s Economic and Financial Affairs Council (ECOFIN) as a “non-cooperative jurisdiction” for tax purposes....more
The Cayman Islands is one of the most preferred jurisdictions of the Israeli private investment funds industry. Israeli fund sponsors and experienced fund investors appreciate the Cayman Islands’ global status as a preferred...more
The EU’s Economic and Financial Affairs Council (ECOFIN) maintains a list of non-cooperative jurisdictions for tax purposes; the purpose of which is to contribute to ongoing efforts to promote tax good governance worldwide....more
BROKER-DEALER - SEC Issues Guidance on Substituted Compliance Applications by Non-US Security-Based Swap Dealers and Major Security-Based Swap Participants - On November 25, the Securities and Exchange Commission’s...more
The EU’s Economic and Financial Affairs (Ecofin) Council updated the European Union’s list of non-cooperative jurisdictions for tax purposes on March 12. The “blacklist” has tripled in length to comprise 15 countries and now...more
The Background: The European Commission has opened an in-depth investigation into a specific provision of the UK-controlled foreign company rules. The Issue: The Commission will investigate whether the UK's so-called Group...more
On 5 December 2017, the Economic and Financial Affairs Council (ECOFIN) determined a list of 17 non-cooperative jurisdictions, which included Bahrain and the United Arab Emirates (UAE). This list was established based on...more
The Council of the EU has agreed on a general approach to the legislative proposals for a directive (which will relate to the ranking of unsecured debt instruments in insolvency) amending the Bank Recovery and Resolution...more
FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 - On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan...more
The Council of the European Union has published a “State of play” on the Commission’s proposal for a Directive on enhanced cooperation on a financial transaction tax (FTT), between Austria, Belgium, France, Germany, Greece,...more