{"id":7931,"date":"2023-04-06T09:31:33","date_gmt":"2023-04-06T14:31:33","guid":{"rendered":"https:\/\/www.campbellslegal.com\/?p=7931"},"modified":"2023-04-06T09:31:33","modified_gmt":"2023-04-06T14:31:33","slug":"campbells-regulatory-update-q1-2023","status":"publish","type":"post","link":"https:\/\/www.campbellslegal.com\/news\/campbells-regulatory-update-q1-2023-7931\/","title":{"rendered":"Campbells Regulatory Update \u2013 Q1 2023"},"content":{"rendered":"

The Q1 Regulatory Update provides an overview of the main legal developments in the Cayman Islands and the British Virgin Islands from 1 January to 31 March 2023.\u00a0 We discuss the following areas:<\/p>\n

Cayman Islands<\/h3>\n
    \n
  1. Update in respect of the Cayman Islands\u2019 inclusion on the Financial Action Task Force\u2019s (\u201cFATF\u201d) list of
    \ncountries subject to increased monitoring<\/li>\n
  2. Russia (Sanctions) (Overseas Territories) (Amendment) (No.4) Order, 2022 and The Russia (Sanctions)
    \n(Overseas Territories) (Amendment) Order 2023<\/li>\n
  3. 2023 Legislative Revisions \/ Consolidations<\/li>\n
  4. 2023 Legislative Bills<\/li>\n
  5. Accountants Act and Regulations<\/li>\n
  6. Cayman Islands Monetary Authority (\u201cCIMA\u201d) Updates \u2013 Private Fund SP Fees to be Returned<\/li>\n<\/ol>\n

    British Virgin Islands<\/h3>\n
      \n
    1. BVI\u2019s inclusion on the EU\u2019s list of non- cooperative jurisdictions for tax purposes (\u201cAnnex I\u201d)<\/li>\n
    2. Economic Substance Update<\/li>\n
    3. Financial Services (Fees) (Amendment) Regulations, 2023<\/li>\n
    4. Insolvency (Amendment) Act, 2022, Banks and Trust Companies (Amendment) Act, 2022 and the
      \nFinancial Services Commission (Amendment) Act, 2022<\/li>\n
    5. Virtual Asset Services Providers Act, 2022<\/li>\n
    6. AML Updates<\/li>\n
    7. CRS Updates<\/li>\n
    8. BVI Business Companies (Financial Return) Order, 2023 and BVI Business Companies (Amendment)
      \nAct, 2023<\/li>\n
    9. Regulatory (Amendment) Code, 2023<\/li>\n<\/ol>\n

      Click here to access the Update: Caribbean Regulatory Update Q1 2023<\/a><\/p>\n

      Campbells advises both local and international banks, insurers, company managers, trust companies, investment managers, administrators and directors on regulatory and compliance matters. For further information please get in touch with your usual Campbells contact or one of the contacts below.<\/p>\n","protected":false},"excerpt":{"rendered":"

      This quarter’s Update provides an overview of the main legal developments in the Cayman Islands and the British Virgin Islands from 1 January to 31 March 2023. <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"yst_prominent_words":[1454,16,14,2925,2919,2920,15,3024,989,18,706,17],"class_list":["post-7931","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/posts\/7931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/comments?post=7931"}],"version-history":[{"count":6,"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/posts\/7931\/revisions"}],"predecessor-version":[{"id":7938,"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/posts\/7931\/revisions\/7938"}],"wp:attachment":[{"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/media?parent=7931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/categories?post=7931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/tags?post=7931"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.campbellslegal.com\/wp-json\/wp\/v2\/yst_prominent_words?post=7931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}