The Beneficial Ownership of Legal Persons (Guernsey) Law 2017 came into force on August 15 2017. From that date, the incorporation or creation of any Guernsey entity requires details of its beneficial owner to be submitted to the Guernsey registrar of beneficial ownership of legal persons. Existing Guernsey entities must do the same by October 31 2017, with the exception of companies, which have until February 2018.
The Channel Islands Competition and Regulatory Authorities (CICRA) have issued new guidance on the process for obtaining their approval of a notifiable merger or acquisition in the Channel Islands. The guidance implements some procedural aspects of the recommendations for the islands' merger control regime overhaul which CICRA published in September 2016.
A variety of factors are fuelling a sustained boom in M&A activity around the world, including a number of mega-deals across a variety of sectors. Irrespective of deal size, a wide range of positive factors has driven deal volume. All of this is good news for the financial services community in Guernsey, which is seeing significant growth in work as a result – not least law firms with experienced M&A teams.
The perennial conversations around restrictive covenants in employment contracts and service contracts of a similar nature are familiar. Employers want maximum restriction on employees who leave but must be careful not to overstep the mark as covenants which are unduly restrictive risk being struck out by the courts.
What started with complaints against an Oscar-winning film producer has led to a movement that has toppled government ministers and reduced much-loved figures from the entertainment world to pariahs. Although Guernsey may feel far away from Hollywood or Westminster, the issue of sexual harassment is just as real. So what should an employer do to protect its employees and its business from harassment?
The Guernsey Financial Services Commission recently introduced the Guernsey Green Fund designation to provide investment managers with an opportunity to "assure investors that their investments are contributing to initiatives that have a positive environmental impact on the planet and in so doing inspire confidence that their investments are well regulated". The designation is available to registered and authorised schemes run in accordance with the Guernsey Green Fund Rules.