Managers of Wealth Offshore

Ireland Update – Central Bank of Ireland updates AML/CFT Guidelines for Financial Sector

The Updated Guidelines list a number of steps that the Board should take in order to meet the necessary standard of governance and oversight.

‘Corporate Housekeeping’ - Re-domiciliation of Equiom Group Holding Companies

Established in the Isle of Man in 1978, Equiom now has a truly global footprint with 18 offices around the world and employs close to 600 staff.

Malta’s true colours beyond grey

Local businesses were the main drivers of this evolution and today we measure our business ecosystem against the highest international standards.

New ESMA Guidelines For Fund Marketing Communications

The Guidelines have been issued in the context of the new EU regime on the cross-border distribution of investment funds

GFSC launches consultation on 10% fee increase

The additional income provided by the proposed fee increase would be invested in increasing staffing numbers within key areas of the Commission, such as the Authorisations Division where we are seeing an increase in applications.

Loan origination - CSSF guidance on private lending

Finally, the CSSF has highlighted the non-application of the article 28-4 of the LFS to professionals carrying out activities whose taking up and pursuit are governed by special laws, including notably UCIs, SIFs, pension funds, SICARs and securitisation

Jersey regulator ramps up Greenwashing drive

The requirements will be set out in updated codes of practice applicable, respectively, to certified funds, fund services businesses and investment businesses as well as in the updated Jersey Private Fund Guide.

ILS Insight 2021 - The Origin of Innovation

A theme highlighted is that Guernsey's ability to lead on innovation is made possible by the expertise of Guernsey's service providers and its regulatory regime.

Cayman Islands: Equity Derivatives 2021

The guide includes information on market structure

Data protection regime introduced in the BVI

Limited partnerships without legal personality should also prepare for the DPA as they may fall within scope by virtue of being 'established' in the BVI.

When will a director or shareholder of an insolvent company be held personally liable for costs liabilities incurred by the company in unsuccessful litigation?

This will commonly be some form of serious bad faith or impropriety on the part of the director, causatively linked to the applicant unnecessarily incurring costs in the litigation.

GFSC updates Guernsey Green Fund rules

GFSC Director General William Mason said: “We were happy to see the Guernsey Green Funds regime working to protect investors from greenwashing and to be able to take on board feedback by liberalising a couple of aspects of the reporting regime to re

UBO in the USA: reporting requirements on the horizon

Businesses will need to keep abreast of developments or enlist the support of a third party who can keep them informed, or even handle compliance obligations on their behalf.

New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission

For the avoidance of any confusion, it does not discuss the recent adoption of intra-EEA controller to processor standard contractual clauses under Article 28(7) of the GDPR.

US flags Maltese pension plans as ‘potentially abusive’

Government body warns they may be facilitating tax avoidance

Sustainable Investments: Jersey Makes Codes of Practice and Private Fund Guide Changes

In that sense, these changes support Jersey Finance’s 2030 Vision and overall strategy for sustainable finance, ensuring that Jersey plays its part in the global transition to a more sustainable finance system.

Hawksford strengthens its services across 13 Asia-Pacific cities and jurisdictions

The development will support companies seeking to scale and grow their venture into Asia-Pacific by offering through their international business expansion experts, serving as a central point of contact across services.

Recent Updates of the Cayman Islands Economic Substance Regime bring certain partnerships into scope

This expansion of the regime’s scope necessitated amendments to certain key terms in the Schedule to the ES Act (e.g. broadening of the definitions of “entity” and “relevant entity”) and the addition of new terms.

Economic substance for the British Virgin Islands

The Act applies to existing entities and new entities incorporated or formed from 1 January 2019.

Bermuda Economic Substance Amendment Act 2021

Walkers Professional Services is available to assist entities to file economic substance declarations where required under the ES Act.

Regulation, Risk & Compliance