Regulatory Round-Up

The BVI has significantly enhanced its beneficial ownership regime (“BO Regime”) in 2025, including expanding and clarifying certain exemptions that are available following changes that came into effect on 1 July 2025. This series of blog posts details key exemptions under the BO Regime, with this post looking at subsidiaries of BVI entities. Read more →

The EU AI Act governs the use of AI / AI outputs in the EU. Adopting a risk-based approach, it prohibits certain uses and imposes stricter rules on high-risk applications like employment related decisions. Asset managers will need to implement strong governance, oversight, data controls, staff training, and transparency measures, and will need to map, classify, and monitor AI systems and ensure senior accountability. Read more →

ESMA’s final guidelines significantly restrict reliance on the reverse solicitation exemption under MiCA. Virtually all forms of marketing, advertising, or promotion by non-EU crypto firms that reach EU clients are considered solicitation. Firms must avoid EU-focused outreach, control third-party and affiliate marketing, and keep detailed records proving that any EU client contact was initiated solely by the client. Read more →

AIFMD 2.0 implementation should focus on these core workstreams: reviewing firms’ delegation frameworks, enhancing liquidity management processes, updating fund documents and investor disclosures and communications, and (where relevant) embedding the new loan origination regime. Firms will also need to train staff, brief delegates, ensure robust corporate governance and board approvals, and align procedures and systems with the revised regime. Read more →

On 18 September 2025, the Cayman Islands Monetary Authority (“CIMA”) released a Supervisory Information Circular outlining how CIMA monitors virtual asset service providers’ (“VASPs”) compliance with anti-money laundering, countering the financing of terrorism, countering proliferation financing and targeted financial sanctions (collectively, “AML”) regulatory requirements within the Cayman Islands. Read more →

In line with Jersey’s government-sponsored financial services competitiveness programme, the Jersey Financial Services Commission (“JFSC”) introduced significant amendments to the Jersey Private Fund Guide (the “JPF Guide”) effective on 6 August 2025, designed to enhance the attractiveness and flexibility of Jersey Private Funds (“JPFs”). Read more →

The BVI has significantly enhanced its beneficial ownership regime (“BO Regime”) in 2025, including expanding and clarifying certain exemptions that are available following changes that came into effect on 1 July 2025. This series of blog posts details key exemptions under the BO Regime, with this post looking at regulated trustees. Read more →

The BVI has significantly enhanced its beneficial ownership regime (“BO Regime”) in 2025, including expanding and clarifying certain exemptions that are available following changes that came into effect on 1 July 2025. This series of blog posts details key exemptions under the BO Regime, with this post looking at regulated funds and subsidiaries. Read more →

In April 2025, the British Virgin Islands International Tax Authority (“ITA”) updated the British Virgin Islands (“BVI”) Financial Account Reporting System (“FARS”) with the newly introduced additional information form or Common Reporting Standard (“CRS”) Compliance Form (“Additional Information Form”). Read more →