06/24/2021
FATF votes to greylist Malta
Global anti-financial crime watchdog advises enhanced monitoring for Malta
Regulation, Risk & Compliance
06/24/2021
Deloitte’s offshore offices to merge
In addition to the three islands and Gibraltar, he will be responsible for the UK firm’s Financial Services audit business focusing on pensions
06/23/2021
US charges duo over Cayman Islands fund fraud
They ‘routed nearly all investor funds to shell companies under the defendants’ control’
06/23/2021
MFSA highlights work to combat financial crime in status update
Financial regulator emphasises work accomplished, days before FATF vote
06/23/2021
MALTA: International property fair co-funding scheme launched
The scheme closes at the end of September or when all the funds are allocated and is valid for participation in events happening between 30th June 2021 and 31st December 2022
06/23/2021
How Bermuda's new cyber regulation will impact its insurance industry
A reasonable requirement is that such arrangements be subjected to a risk assessment and secured with appropriate controls.
06/22/2021
Ontario regulator takes aim at crypto firm Bybit
Additionally, the OSC stated that platforms that allow access to Ontarians are regarded by the OSC as operating in Ontario for the purposes of securities regulation.
06/22/2021
Developers, realtors offered AML seminar
As a result, alarm bells have been ringing about whether developers and real estate agents here are able to cope with the complex compliance required.
06/22/2021
Bedell Cristin advises Augusta Ventures on its £250 million fundraising
The oversubscribed fundraising was supported by Beach Point Capital Management
06/22/2021
Successful transactions of securities with Central Bank Digital Currency
Banque de France successfully used Central Bank Digital Currency in a test environment
06/22/2021
SEC charges three more defendants in alleged US$30 million ICO fraud
The SEC’s complaint charges Hamid, Gietz, and Page with violating, as well as aiding and abetting violations of, antifraud provisions of the federal securities laws and with violating securities registration requirements.
06/22/2021
Guernsey Economic Substance Update: Scope Extended to Include all Partnerships from 30 June 2021
These new regulations consolidate all existing regulations issued to date regarding economic substance in Guernsey and also extend the scope to include all forms of partnership (general partnerships, limited partnerships and limited liability partnerships
06/22/2021
GDPR - EU Commission adopts new Standard Contractual Clauses
This judgement declared the EU Commission's decision on the adequacy of data protection provided by the EU-US Privacy Shield invalid
06/22/2021
KPMG and The ID Register form alliance
Service providers to rely on The ID Register, reducing risk, overheads and barriers to growth.
06/21/2021
Data regulation replaces tax rate as top investment factor, survey finds
Regulatory regime biggest driver for firms seeking to make data-related investments in EU
06/21/2021
Pension holiday rolls on for six more months
While neither employers nor employees will be required to make mandatory contributions, voluntary payments can be made if there is an agreement between them.
06/21/2021
US lawmakers pass offshore disclosure and ESG standardisation bills
Under the ESG bill, the Securities and Exchange Commission (SEC) will create definitions of ESG metrics and mandate standardised ESG disclosures.
06/21/2021
Offshore income, assets abroad: Time limitation not made part of Finance Act 2018
Earlier, there was a restriction of five years, but now there will be no time limitations after approval of this law from the National Assembly of Pakistan through Finance Bill 2021.
06/21/2021
Enforcement against Jersey structures – some recent developments
The interests of a discretionary beneficiary are not by their nature transmissible.
06/17/2021
MFSA fines in 2020 were almost as high as in previous three years combined
Financial regulator's annual report highlights increase in enforcement action