Managers of Wealth Offshore

$500K Northstar Financial Services (Bermuda) Claim Brought Against Truist Investment Services by Venezuelan Investors

Now that the off-shore entity is in liquidation after filing for bankruptcy, and its owner Greg Lindberg is serving time in prison, the best chances these claimants have of recouping their losses is to pursue damages through FINRA arbitration.

€500,000 FIAU fine for money transfer firm Sendvalu

The FIAU says Sendvalu failed to undertake appropriate enhanced due diligence measures in instances clearly posing a high money laundering risk

TISE makes Listing Rule changes to target SPACs

TISE initially introduced rules for listing SPACs in 2015 and it has recently revised them to align with developing market trends in both the US and Europe and notably, where there may be an institutional investor base.

Protecting Cayman Islands Companies at Risk: Provisional Liquidation

A prima facie case means that the applicant must demonstrate that it is likely that a winding up order will be made.

Bermuda Monetary Authority Fines Allianz Life Bermuda

The Company has consented to the imposition of these civil penalties.

CFTC Steps up Activity in the Cryptocurrency Space

As a result, market participants should anticipate increased CFTC enforcement within the cryptocurrency space and be mindful of—and comply with—all relevant CFTC rules.

In the land where cash is king, new restrictions will bite hard

Are you planning on selling your boat? If it is priced at €10,000 or more you’d better be aware that it is illegal to receive payment in cash

UAE anti-money laundering rule: Some businesses find compliance is no easy task

Fines of Dh50,000 and more - even up to Dh5m - await businesses delaying AML compliance

Are NFTs being used for money laundering? Yes they are, claims Mr. Whale

NFT’s could be a vehicle to legitimize ill-gotten gains for the crypto elite.

Ireland Update: Remote and Flexible Working is Here to Stay

The Health & Safety Authority ("HSA") previously published guidance on remote working, however this was primarily focused on the practicalities of short term homeworking necessitated by the Government restrictions imposed due to COVID-19.

Cyprus requires beneficial ownership details for partnerships

The process for partnerships will be similar to that of the submission of beneficial owners details for companies.

Jersey’s telecom regulator acts to deal with increasing use of bogus phone numbers

They can then decide whether to answer the call or not, or to only answer calls from recognised numbers.

Greylist stops all Malta business on Praemium global investment platform

Global digital investment platform Praemium terminates all forms of business for Malta-based relationships and transactions

CRS Compliance Forms – Don't miss the deadline

All financial institutions with CRS reporting obligations, including trustee documented trusts, are obliged to file the CRS Compliance Forms.

JTC Launches new Fintech Compliance Solution for MAR

The company recognised the need for a platform which helps protect both investors and clients alike and selected InsiderList.com’s MAR compliance solution for both their own requirements as a PLC and an administrator of listed clients.

Cross-Border Distribution of Funds 101

Part 4 - Fund passporting de-notification process

BAHAMAS: Who Owns Firms Given Govt Covid Contracts? – Auditor General Reveals His Request For Beneficial Owners List Still Pending

“Request was made for the beneficial ownership of these business entities. However, the same is pending,”

Regulation, Risk & Compliance