02/11/2022
JFSC: We have changed our decision making process for regulatory sanctions
Our proposal focused on streamlining how we reach these decisions for imposing regulatory sanctions
Regulation, Risk & Compliance
02/11/2022
Accuro expands commitment to matters of equality
Menopause awareness is not well understood in most working environments and we want to do what we can to change this.
02/10/2022
New listing regime for SPACs in Hong Kong – an offshore perspective
The new Hong Kong SPAC listing regime seeks a balance, introducing relatively stringent requirements for the quality of both listing candidates and also de-SPAC targets, addressing the commercial needs of SPAC sponsors whilst also raising the bar in terms
02/10/2022
Corporate Criminal Liability for Failure to prevent Money Laundering
The Financial Action Task Force (FATF) Methodology requires jurisdictions to demonstrate that money laundering offences and activities are investigated, and offenders are prosecuted and subject to effective, proportionate, and dissuasive sanctions.
02/09/2022
Proposed Addition of the Cayman Islands to the EU’s High Risk Third Countries List (the “EU AML List”)
There was a 30-day scrutiny period within which the Council of the EU or the EU Parliament was permitted to object to this proposed revision of the EU AML List
02/09/2022
CLO Migration from the Cayman Islands to Bermuda
Walkers has agreed an expedited process with the BMA allowing for same day consent to be granted with respect to the migration of any Cayman CLO vehicle.
02/09/2022
Digital assets to be covered by anti-money laundering rules
Credit unions will also now be regulated by the regulations.
02/08/2022
GFSC issues consultation paper on Bailiwick Mind and Management in relation to the Fiduciary and Investment sectors
The Commission expects that licensees will ensure that there is a level of local oversight and management of operations within the Bailiwick commensurate with the scale and nature of the activity carried out.
02/08/2022
2021 Capital Markets Union package: review of the ELTIF Regulation
The ELTIF qualifies as an alternative investment fund (AIF) that allows professional and retail investors across the European Union (EU) to invest in companies and projects that need long-term, stable capital.
02/08/2022
EU AML update: solutions for affected Cayman securitisation entities
Regulations prohibits the establishment of securitisation special purpose entities (SSPEs) in countries listed on the EU AML blacklist
02/08/2022
A Practical Guide to Employee Benefit Trusts in Guernsey
UK companies frequently used offshore-resident trustees (such as Guernsey trust companies) in order to operate the scheme outside the scope of UK capital gains tax while still benefitting from UK IHT relief.
02/07/2022
NSM launches fund administration business in Guernsey
Between them they bring to the business more than 40 years of experience in fund administration, particularly share registration, corporate governance, valuation and fund accounting.
02/06/2022
P2P lending in Mauritius: How Fundkiss is constantly innovating to Keep It Smart and Simple
To give a brief overview of what P2P lending is all about, such platforms bring together people looking to invest money with prospective borrowers who are looking for a loan.
02/04/2022
BMA Issues Order Of Prohibition
The Authority has determined that Cooke failed to manage the compliance of the Company with regard to its statutory obligations under the Insurance Act, Insurance Brokers and Insurance Agents Code of Conduct, the Exchange Control Regulations 1973 and the
02/04/2022
Bermuda Monetary Authority Cancels Insurance Registration Of Signify Insurance Ltd.
The Authority’s actions highlight the importance of its role in protecting the reputation of the jurisdiction and protecting the interests of potential clients of the Authority’s regulated entities.
02/04/2022
New law should provide “peace that your wishes will be followed”
“The ability for islanders to be able to plan for their future will be of great comfort to many and will ease the pressure for families and friends when a loved one may no longer have capacity to manage their own affairs.”
02/04/2022
Jersey opens consultation on new rules for partnerships
Partnerships encompass all forms of legal partnerships where more than one person undertakes a business activity together and shares risks and profits.
02/04/2022
Stenham Cannon Group formed following Guernsey MBO
Stenham Trustees has been operating in Alderney for 35 years, while Cannon Asset Management has been in Guernsey for 25.
02/03/2022
The economic substance requirements for Jersey resident partnerships
The Law does not prohibit the outsourcing of activities to other entities, provided the partnership's governing body monitors and retains the ability to control the activities of service providers in Jersey.
02/03/2022
Bank failure authority unveiled in Jersey to shore up global reputation
The JRA will set the strategic direction of work on bank resolution, oversee the exercise of its legal duties and obligations, and help raise the international profile of Jersey among international counterparts.