Member News

Many predicted before the EU referendum that a vote to leave would have a negative effect on the property market. Now that Brexit is set to become a reality, that has transferred into worry amongst many with a stake in property, which in turn could make the predicted negativity become a self-fulfilling prophecy. But is Brexit really a cause for concern for those who have money invested in property, or is there actually nothing to worry about?

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Volaw Group have organised an abseil down the side of Mont Orgueil castle in Gorey in aid of CLIC Sargent Jersey.

John Fox’s Jersey Adventures is providing their expertise to run the event, which will see around 30 people make the descent on Sunday 4 September 2016.

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International transportation and business attorney John N. Hove, currently a partner in the Dallas/Fort Worth office of the national transportation law firm of Scopelitis, Garvin, Light, Hanson & Feary, will establish the Scopelitis Firm’s newest office in Tulsa, Oklahoma. 

Read more: The Scopelitis Law Firm Opens New Office in Tulsa, Oklahoma

Volaw Group’s Managing Director Robert Christensen provides an update on Jersey’s funds industry’s passporting into the European Union, which has been approved by the European Securities and Markets Authority.

On 18 July 2016 the European Securities and Markets Authority (ESMA) gave its positive advice to the European Parliament, Council and Commission regarding the extension of the AIFMD passport to 12 non-EU countries including Jersey, but interestingly not the Cayman Islands or BVI. Jersey and Guernsey were among only five non-EU jurisdictions that ESMA identified as facing no significant obstacles to being able to apply the passport across the EU for marketing alternative investment funds, reinforcing the advice issued by them in July 2015.

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As the dust settles on the first full year of FATCA reporting in relation to both US and UK clients, you might expect financial institutions such as Peregrine to move on to more rewarding work, at least taking a break from the burden of dealing with the automatic tax information exchange assignments that have taken up so much time and resources over the last few years. In practice, there is no time to rest on our laurels as the next challenge is already looming large on the horizon in the form of the Common Reporting Standard (“CRS”).

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