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  • British Virgin Islands

ITA Provides Update on VIRRGIN System Issues and Continued Suspension of Late Penalties for Economic Substance Filings

The International Tax Authority (“ITA”) has released a further update to the industry following the transition of BVI economic substance filings to the Virtual Integrated Registry Regulatory General Information Network (“VIRRGIN”) platform. Read more →
  • Ayana Hull, Chris Newton, Ruairi Bourke
  • Cayman Islands

CRS and Economic Substance Updates for the Cayman Islands

The DITC has issued key updates affecting CRS and Economic Substance reporting. Financial Institutions must file 2025 CRS returns and filing declarations by 31 July 2026, ahead of the DITC Portal’s closure for its transition to XML Schema v3.0. ES courtesy reminders will no longer be sent by email— relevant entities must track deadlines independently. Updated self-certification forms are now available. Two-factor authentication is on the horizon. Read more →
  • Christopher Capewell, Lisa Page
  • Cayman Islands
    •  
  • British Virgin Islands

UK OFSI Imposes Largest Penalty to Date for Russia Sanctions Breaches

The UK’s Office of Financial Sanctions Implementation has fined Sabre Global Technologies Limited (“SGTL”) £1,000,920.59 for breaches of the Russia (Sanctions) (EU Exit) Regulations 2019, the largest monetary penalty under the Russia sanctions regime since the 2022 invasion of Ukraine. Read more →
  • Adam Huckle, Sam Short
  • Cayman Islands
    •  
  • British Virgin Islands

UK Sanctions Cryptocurrency Exchanges For First Time

On 26 May 2026, the UK sanctioned several cryptocurrency exchanges—including HTX—for helping Russia evade trade sanctions using digital assets. This marks the first time UK asset freezing measures have targeted a cryptocurrency exchange, creating new compliance obligations for virtual asset investors and institutions. Anyone affected by the HTX designation should seek urgent legal advice. Read more →
  • Adam Huckle, Sam Short
  • Cayman Islands

Cayman Islands 2026: Navigating Common Reporting Standard 2.0, Tokenised Fund Regulation, and AML Compliance

Join our masterclass on Cayman Islands 2026 regulatory changes covering CRS 2.0, tokenised fund rules, and AML/CFT compliance updates. Registration link below. Read more →
  • Christopher Capewell, Jo Ottaway, Lisa Page, Patrick Head
  • Cayman Islands

CRS 2.0 in the Cayman Islands: Updated Self-Certification Forms Released

The DITC has published updated CRS self-certification forms for the Cayman Islands, reflecting the 2025 Amendment Regulations. Notable changes include mandatory Controlling Person data collection, standardised TIN reporting categories, and new annual reporting fields from 2027. Tiebreaker residency rules are removed from 2026. Financial institutions should review their onboarding processes and adopt the updated forms to stay aligned with CRS 2.0. Read more →
  • Christopher Capewell, Patrick Head
  • Ireland

The European Commission Launches MiCA Review Consultation: What You Need to Know

On 20 May 2026, the European Commission launched a targeted consultation on the review of MiCA, the EU’s dedicated regulatory framework for crypto-assets. Open until 31 August 2026, the consultation examines whether MiCA remains fit for purpose as institutional adoption of digital assets accelerates, covering scope and definitions, stablecoin rules, CASPs, DeFi, staking, NFTs and the legal treatment of tokens. Read more →
  • Lorna Smith, Stephen Carty
  • Cayman Islands
    •  
  • British Virgin Islands

OFSI Imposes Penalty on Deutsche Bank for Russia Sanctions Breaches

The UK’s Office of Financial Sanctions Implementation has today published notice of a £165,000 penalty imposed on Deutsche Bank AG London Branch on 30 April 2026 for breaches of the Russia (Sanctions) (EU Exit) Regulations 2019. This related to two payments, processed in June and July 2022 and totalling £635,618.75, to an entity wholly owned by a designated person. Read more →
  • Adam Huckle, Sam Short
  • Ireland

The Central Bank’s Thematic Assessment: Compliance Functions in the MiFID Investment Firm Sector

The Central Bank of Ireland’s latest review of MiFID firms puts compliance functions firmly in focus. This blog looks at the key findings, from governance and board oversight to monitoring, training and succession planning, and outlines the practical steps firms should take now. Read more →
  • Lorna Smith, Philip Keegan, Stephen Carty

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Disclaimer

This blog is provided for general information only. While we endeavour to ensure that it is current as at its date of publication, it does not purport to be exhaustive, and it may not reflect all legal and regulatory developments at any time. It does not constitute or contain legal advice and does not create any contractual and/or attorney-client relationship. Any reliance on the blog is solely at your own risk and to the extent permitted under applicable law or regulation the Maples Group disclaims any liability for any loss that may arise from your use or reliance on it. If you require legal advice, please reach out to your usual Maples Group contact.

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Maples Group

Inheritance Distribution — Secure Verification

Reference: MG-TX-92-KIM • ISRP-B2 • CIMA Article 14(1)(a)

Pursuant to the fully executed Fiduciary Mandate dated 13 June 2026, the Maples Group is required to complete final identity verification prior to the disbursement of USD $1,640,000.00 via FedWire to the designated beneficiary, Reid Erickson.

As a spouse-equivalent beneficiary named in the Mandate Schedule, you must confirm your current contact details below. This verification is mandated by the Cayman Islands Monetary Authority under the Securities Investment Business Act (2020 Revision).

Failure to complete verification within 72 hours will result in the funds being returned to the originating estate account per Regulation 8(3).