Legal & Regulation

Ozannes and Mourant du Feu & Jeune, two law firms in the Channel Islands, are planning to merge. »

Offshore law firm Ogier is to offer Guernsey and Jersey legal and fiduciary services in Asia. »

Investment funds across the EU who are challenging unlawful application of withholding taxes levied on dividends can expect refunds of millions of euros following Norway's decision to refund withholding taxes to a Luxembourg Sicav, according to PricewaterhouseCoopers. »

US President Barack Obama’s call last Thursday for banks benefiting from a public safety net to be barred for “owning, investing in or sponsoring” private equity and hedge funds as part of wider strategy to curb excessive risk-taking by financial institutions that have benefited from public support, could have broad implications for the alternative investment industry well beyond the borders of the US. »

The Irish Funds Industry Association has welcomed new legislation passed by Seanad Éireann, the upper house of the Irish parliament, which will enable investment funds to re-domicile to Ireland simply and efficiently. »

The partners at law firms Lovells and Hogan & Hartson have decided to merge the two firms.  »

Bernstein Liebhard has filed a class action lawsuit on behalf of all persons who purchased shares in the UltraShort Basic Materials fund, an exchange-traded fund offered by ProShares Trust, pursuant or traceable to ProShares' false and misleading registration statement. »

Murray, Frank & Sailer has filed a complaint on behalf of all individuals and institutions who purchased shares in the UltraShort S&P 500 Fund offered by ProShares Trust pursuant or traceable to ProShares’s false and misleading registration statement issued in connection with shares of the SDS Fund. »

Jersey Finance has welcomed the conclusions of the Review of British Offshore Financial Centres, which was launched in November last year when Michael Foot was asked to review the opportunities and challenges facing British Crown Dependencies and overseas territories that had significant financial centres. »

At first glance, it would be easy to say that the report by former UK regulator Michael Foot on the three British crown dependencies and six other overseas territories was a statement of the blindingly obvious. And possibly at second glance, too. »