Managers of Wealth Offshore

Legislation to regulate unfair contract terms in the Bailiwick

It remains to be seen whether legislation regulating this area more widely will follow, perhaps modelled on the LCF Law.

Guernsey Policy & Resources Committee consults on ‘six directorship’ exemption for directors of businesses

The Policy & Resources Committee is therefore proposing changes which would see a registration framework extended to directors who come under the ‘six directorship’ exemption.

Beckles: Employment Act often taken for granted

“Before you invest or borrow a single dollar, make sure that you investigate and understand the regulations covering your sector,” said Beckles.

Securities Commission Statement on Transfer Motion In FTX Digital Markets Chapter 15 Proceedings

FDM was incorporated in the Commonwealth of The Bahamas on 22 July 2021; it was duly registered as a digital asset business under The Bahamas’ Digital Assets and Registered Exchanges Act, 2020.

Foundations are easily understood by clients from civil law countries

Once assets are settled into a foundation by a founder, the assets belong to the foundation

Bermuda company joins COP27 pact

The MoU paves the way for the three risk pools to collaborate on sharing best practices in parametric insurance models

Revised tax proposals to be unveiled next week

It is expected that P&R will use that platform to explain how it will propose a goods and services tax (GST) at a rate of 5% or 8% on most, if not all, consumer purchases.

British Virgin Islands: Amendments to BVI Business Companies Act

With effect from 1 January 2023, a company that is struck off the Register will be deemed dissolved on the date that the Registrar of Corporate Affairs publishes a striking off notice in the Gazette.

BMA: captives ‘vital’ to insurance market

The report looks at the overall performance of the Bermuda captive sector over the course of 2021.

Nov. govt paychecks to include minimum wage increase, back pay

He said the government is making strides in lowering its own electricity costs by implementing energy-efficient street lighting and continuing its rooftop solar projects.

Central Bank has received info on financial system’s FTX exposure

The implosion of FTX and its local subsidiary, FTX Digital Markets is not believed to pose any widespread risk to the country’s financial system.

‘Urgent measures’ needed to close gender pay gap – report

The Fawcett Society said its research showed that during 2022 women will, on average, take home £564 less than men each month, up from £536 in 2021.

Regulation of credit and consumer business in the Bailiwick

The LCF Law also regulates 'services ancillary to credit' including assisting by undertaking preparatory work

A Caribbean-Africa partnership is happening finally, and it’s a terrific development

The MoU signing between Africa Import-Export Bank and the Ministry of Bahamas seems to be a good beginning to new relations with like-minded countries which are bearing the brunt of Western diktats

Banking & Finance Trends & Developments in The Bahamas

Their article focused on the trends and developments of the Banking & Finance sector in The Bahamas.

Irish government finalises terms and conditions for offshore wind auctions

Generators are likely to welcome the extension of the period of support from 15 years to 20 years.

Belize is going to be completely taken over by US in next 10 years

According to a report, Belize will promote the digitalization of companies and government services and boost local economic growth, financed by a $10 million loan from the Inter-American Development Bank

FTX suggests Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy: Filing

The accusations were made by FTX in a motion in the United States Bankruptcy Court in Delaware.

Electing a new IDB president

Its membership includes several donor countries which, by virtue of their contributions and shares, hold just over 50 per cent of its voting power.

Persevere: DPM says he’s confident country will pivot from FTX fall-out

The Supreme Court approved Kevin Cambridge and Peter Greaves of PricewaterhouseCoopers (PwC) as joint provisional liquidators for FTX Digital Markets.

Regulation, Risk & Compliance