07/28/2021
Effective Compliance Requires Robust Monitoring
The challenge to designing and implementing a compliance monitoring programme is the significant resource, time and commitment required, those on the course heard.
Regulation, Risk & Compliance
07/27/2021
Unauthorized: SCB warns RAY-E Securities Investment Company not registered entity
Commission cautions public against conducting business with unlicensed/unregistered entities
07/27/2021
Trust Essentials: July 2021
The past year has been a difficult and unsettling one for many.
07/26/2021
Medicinal cannabis growth to be permitted in Guernsey
The move follows a memorandum of understanding with the UK Home Office, Guernsey States announced.
07/26/2021
£200m Government loan approved to help finance £568m States plan
An amendment aiming to stop Equal Pay for Work of Equal Value from being put on the back burner was voted out by the smallest of margins.
07/26/2021
Future of RD100 remains uncertain
Express was told in April that the States of Guernsey and Rubis were in talks to decide an appropriate duty on the product.
07/26/2021
CSSF clarifies MiFID application to Luxembourg investment fund managers
Should this not be the case, and an IFM delegates one or more functions included in the collective portfolio management to another authorised IFM, or to a third-party, this exemption will not apply, and the IFMs that delegate part of their functions shall
07/23/2021
Cayman Regulatory Update - Q3 2021
All partnerships will be required to make an ES notification, including local partnerships and investment funds which are otherwise excluded.
07/23/2021
Caribbean Cayman Regulatory Update - Q3 2021
The BVI have introduced a new package of legislation to provide a robust framework for anti-money laundering
07/23/2021
FATCA and CRS updates and reminders issued (July 2021)
The updates and reminders included in the bulletin covered the key areas described below.
07/23/2021
Amended economic substance regulations and guidance released
The Registrar also circulated a draft copy of the revised ES guidance notes, which explain the changes included in the ES Amendment Act 2021.
07/23/2021
Harneys Cayman office converts to limited liability partnership
The name of the firm remains the same
07/21/2021
Isle of Man refreshes AML strategy
The Isle of Man has increasing success in this area
07/21/2021
Grappling with new risks on the register
Two recent reports may be helpful to shed light on the broader context to help understand the changing risk landscape.
07/21/2021
BMA licenses six re/insurance entities in June
It takes the full number of BMA registrations for 2021 to 39, of which eight were intermediaries.
07/21/2021
Top tips for responding to a CIMA onsite inspection
Onsite inspections may be full scope, involving a review of all areas of the licensee's operations
07/21/2021
Central Bank of Ireland publishes findings of MAR compliance review
This briefing summarises the main findings of the CBI and the steps that market participants should take now to address their obligations and to achieve the standard of compliance expected by the CBI.
07/20/2021
Mauritius now 17th country in Global Index repository for banks, with MBA’s support
Mauritius was an early adopter.
07/20/2021
Treasury issues ‘priorities’ required by AML Act, experts cite minimal value to compliance
The priorities reflect the U.S. government’s view of the threat landscape
07/20/2021
“Endlessly evolving standards” responsible for 10% hike in GFSC fees
The Commission has invested £3.6 million in its IT system over the past three years to keep up with technological developments and prepare for a major international inspection, expected in 2023.