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  • Adam Riddell, Director

Crystal Concise: June 2024

Our regular snapshot from the Crystal team of some of the highlights and points of note for finance and corporate comms pros from around the jurisdictions this past month...

  • Gibraltar: A follow up report from MONEYVAL re-rated Gibraltar as ‘largely compliant' on AML.

  • Luxembourg: ALFI, the jurisdiction’s funds body, published its latest annual report. It highlighted in particular that the value of Luxembourg’s fund assets now stands at almost EUR5.5trn.

  • Abu Dhabi: The Abu Dhabi regulator opened a consultation on laws surrounding family offices and company structures.

  • Cayman: The jurisdiction’s tourism ministry announced that a new roadmap for the industry would be announced next year - whilst contracts have also been awarded to agencies totalling more than $12m to promote the islands as a luxury destination. In addition…

  • Cayman: A new 5G mobile data service was officially launched in Cayman.

  • IoM: June saw the IoM host its flagship TT event, with Yorkshireman Davey Todd winning the Senior TT race.

  • Interest Rates: The European Central Bank cut interest rates for the first time in 5 years.

  • EU: The European Commission has been called on to make sustainable investment labels clearer as part of SFDR reviews. Meanwhile…

  • Sustainability: EU countries voted to approve a wide ranging piece of legislation aimed at restoring ecosystems across the bloc - amongst the demands of the Nature Restoration Law is that all EU member states must restore at least 30% of habitats in poor condition by 2030.

  • World Wealth: The number of HNWIs globally rose by 5.1% last year to 22.8 million, according to the latest Capgemini World Wealth Report. Their total wealth reached $86.8 trillion in 2023, a 4.7% increase from the previous year, The number of HNWI and their total wealth are the highest since Capgemini began the study in 1997.

  • CIPR: The industry body published its 2023 Annual Report, a publication that showcases the value of the industry to society, and reflects the organisation’s 75th anniversary.

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