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Derek Adler
Friday
Sep 17 '10
Category:
Blog
UK
Contributor:
Derek Adler

New deadline published for licensing of investment business under SIBA regulation.

The Securities and Investment Business Act, 2010 (SIBA) came into force in the British Virgin Islands (BVI) on May 17, 2010 (other than Part II dealing with the public issue of securities).

Following its introduction, the transitional period for obtaining an investment business licence and complying with many of the rules introduced by the new legislation has been extended to December 31, 2010.

SIBA requires any person carrying out "investment business" in or from within the BVI to obtain a licence from the BVI Financial Services Commission. If a ...

Dr John Paul Zammit
Wednesday
Aug 25 '10
Category:
Blog
Malta
Contributor:
Dr John Paul Zammit

by Dr. John Paul Zammit | Associate - MamoTCV Advocates

Title II of the Payment Services Directive (Directive 2997/64/EC) (“PSD”) establishes a new prudential and supervisory regime for “payment institutions”, i.e. firms (other than credit or electronic money institutions) that carry out or intend to carry out payment services. The term “payment institution" encompasses a wide range of firms; from non-bank regulated financial institutions  to other entities which were previously unregulated insofar as payments services are concerned, at least on EU level (money remitters and mobile network operators, by way of example).

The provisions of the PSD regulating PIs ...

Georges Boivin
Tuesday
Aug 24 '10
Category:
Blog
Switzerland
Contributor:
Georges Boivin

Uncertainty and More Delays – Perspective from a Swiss Point of View

Article by Georges A. Boivin |Solomon Harris Zurich Branch Manager

The directive on alternative investment fund managers (“AIFMs”) proposed by the European Parliament (the “EU Directive”) continues to create uncertainty and controversy in the   alternative investment funds (“AIFs”) world.  This analysis proposes an outlook of where the European Union (“EU”) is at, with respect to the EU Directive as well as the position of fund industry observers and participants in Switzerland.

The approval process of the EU Directive is being postponed because there is no consensus yet between the ...

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