Global Legislative Update

Key legislation pertaining to the wealth management industry enacted over the last 12 months and pending legislation for the next 9 months, jurisdiction by jurisdiction.

ESG And Good Governance

Developments In The Bermuda Insurance Sector

Gavin Woods
Carey Olsen
Alexander Collis
Carey Olsen
Carey Olsen

Bermuda is a popular domicile for limited purpose insurers, being insurance companies established for purposes of self-insurance, as well special purpose insurers.

Bermuda is also a significant domicile for commercial insurers and reinsurers. The attractiveness of Bermuda to the insurance industry has resulted in a legal and regulatory regime that is bifurcated to facilitate the co-existence of these two broad categories of insurer, both of which are regulated by the Bermuda insurance regulator: the Bermuda Monetary Authority (the BMA).

The development of Bermuda's insurance regime is a result of prevailing market conditions and considerations. Recent enhancements to Bermuda's insurance regime have focused on commercial insurers (particularly in the life sector) and this trend looks to continue through and beyond 2023. 


NextGen & Family Wealth Planning

The emergence of a next generation that is set to inherit record levels of wealth and is highly focused on purpose-driven investment is presenting a new wave of challenges and opportunities for wealth managers. How equipped are IFCs to deal with this new cohort of HNWIs and respond to changing priorities in areas such as Philanthropy, ESG Investing and FinTech?

Knowing What You Don’t

Navigating ESG-Adjacent Liabilities As A Trustee

Josephine Choo
WongPartnership LLP
Samuel Navindran
WongPartnership LLP

The emergence of ESG measures, and the demand for disclosure and compliance with these measures, has burgeoned in the last decade.

In Singapore, the Monetary Authority of Singapore (MAS) released its Sustainability Report 2021/2022, in which MAS revealed that it had worked with the Singapore Exchange (SGX) to (1) require all SGX-listed entities to provide climate reporting on a ‘comply or explain’ basis for financial years starting on or after 1 January 2022; and (2) implement mandatory climate reporting, with issuers in industries identified by the Task Force on Climate-Related Financial Disclosures to be progressively subject to mandatory climate reporting from the financial year 2023. MAS estimates that by 2025, mandatory climate reporting will cover approximately 78 per cent of SGX’s listed market capitalisation.[i]