Valsen Corporate

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SEC Adopts New Framework for Fund of Funds Arrangement 2021

The Securities and Exchange Commission introduced a new rule 12d1-4 under the Investment Company Act of 1940, the “Investment Company Act” and amended rule 12d1-1 and Form N-CEN, for the fund of funds arrangement. A fund of funds (FOF)—also known as a multi-manager investment—is a pooled investment fund that invests in other types of funds.  […]

Investment Funds 2019: New Licensing Requirements & Obligations

The Investment Funds Act 2019 (IFA), brought into force effective September 1, 2019, represents a modern update to the current regulatory regime for investment funds in the Bahamas. The changes apply to all persons currently carrying on investment fund business in and from The Bahamas and those that intend to. An aim of the New […]

The UK-Japan Trade Deal: Opportunities and Challenges for Corporate Governance 2021

  The UK government announced a historic free trade deal with Japan, its first post-Brexit independent trade pact, tipped to boost trade between the two countries by an estimated £15.2 billion in the short term. The deal with Asia’s largest advanced economy officially took just over three months to conclude, although negotiations have been going […]

EU Open Banking and Open Finance Impact on Financial Services 2021

  The European Commission, through its Data Strategy, has set a goal to build a Single Market for Data in Europe – an open data economy. It has also made fostering a data driven financial sector one of its priorities, including a commitment to present a proposal for a new Open Banking/ Finance Framework by […]

Implementation of the Digital Service Tax DST in Kenya 2021

  As the Organisation for Economic Co-operation and Development continue to deliberate on finding a consensus on a universally acceptable framework for the taxation of the digital economy, Kenya is moving ahead with a unilateral tax on digital services. In 2020, Parliament enacted the Finance Act 2020 which inter alia introduced a Digital Services Tax  […]

Wealth

Unlocking the Value of Data in Wealth Management 2021

  Wealth Management is undoubtedly in a period of constant change, motivated in part by changing investor preferences, regulatory developments, and evolving technologies.  As Wealth Managers formulate business and technology strategies, discussions on a variety of areas ranging from how best to select suitable solution partners obtaining the most accurate data, and, choosing the best deployment […]

UBO

Implementation of the Ultimate Beneficial Owner (UBO) Register of Companies and Other Legal Entities in Cyprus 2021

  Cyprus implemented the full transposition of the 4th European Directive (EU 2015/849) of the European Parliament (4th AML Directive) into domestic law and activated the implementation of the Ultimate Beneficial Owner (UBO) Register of Companies and other legal entities in Cyprus. By definition, a natural person who ultimately holds a shareholding or controlling interest or […]

The New HK Limited Partnership Fund Bill Regime 2020

  The Hong Kong (HK) Government passed the Limited Partnership Fund Bill, which took effect on 31st August, 2020. The Limited Partnership Fund (LPF) regime is a by-product of the collaboration between HK’s asset managers and the Government. This key objective of this new regime is to set up HK as Asia’s leading private equity […]

Brazil’s Supreme Court takes up taxation of software downloads

  The income characterisation and taxation of software transactions has been raising controversies and conflicts in Brazil for a long time. The taxation regime applicable to software transactions in Brazil is quite complex. There are different federal, state and municipal taxes that are potentially applicable to software. That, together with the frequent changes in law […]

Australian Crypto – currency License Regulations – 2020

  While most countries are still undecided on how to regulate crypto, Australia is well ahead of the pack in formulating regulations around cryptocurrencies and allowing growth of this industry in a secure environment. Australia, much like Switzerland and Singapore, has a friendly approach towards the crypto industry this attracting investments from global firms. Crypto […]