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Industry Updates

Cayman Islands and BVI Sanctions Extended Against Iran and Relaxed Against Libya

06 Mar 2012

The United Kingdom has recently extended to the British Overseas Territories, including the Cayman Islands and the British Virgin Islands, the European Union sanctions against listed persons, entities and/or bodies in Iran. Similar sanctions in Libya have recently been relaxed.


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Regulatory & Compliance

Risk management and regulatory compliance have become key priorities for clients with both regulators and investors demanding greater transparency and enhanced reporting. Compliance with these obligations means ensuring a clear understanding of the ongoing requirements and often the aggregation, calculation, maintenance, reconciliation and submission of extensive data sets to various parties on a regular basis. The Maples Group has unrivalled expertise in regulatory matters, particularly in the field of anti-money laundering and counter-terrorist financing. We pride ourselves on our established relationships with regulatory bodies and have had significant involvement with the development of financial services law and policy both locally and internationally. Our ability to draw on this experience enables us to provide prompt, pertinent and clear advice that adds real value and helps our clients determine how best to maintain compliance across multiple jurisdictions.