Managers of Wealth Offshore

Cayman fund allegedly embroiled in 1MBD scandal

About $112.5 million were withdrawn and paid to various third parties, the petitioners allege.

JFSC: Feedback to Consultation on bank financial reporting and audit

The New Order would cover the appointment of auditors, prudential returns, declarations of compliance and the publication of financial statements. It would also provide a legal foundation for this reporting, which follows the approach used by other financ

Taking a Jersey company private: Is there a new kid on the block?

Take private transactions in Jersey have frequently been implemented by members’ schemes of arrangement under Part 18A of Companies (Jersey) Law 1991 (CJL).

'Lull' in affordable housing after no approvals in 2020

"We're having a lull in terms of new homes coming along because it's quite a long production line of getting land"

Ogier introduces expansive family leave benefits

“We recognise how important time with family is and we want to increase the support we provide for our people to have families and to continue building their careers at Ogier."

Sanctions Compliance - Key issues for Trustees and Financial Institutions

This rise in the use of financial sanctions poses particular compliance risks and below we explore some of the fundamental issues that arise for trustees and financial institutions in the Bailiwick of Guernsey in complying with the various Guernsey sancti

The Cayman Islands, the EU AML list and the FATF grey list

There are few practical consequences arising from inclusion on the EU AML List although clients should be aware of the following.

CIMA fines Lion Brokers $262,000 for AML failings

The group’s Cayman Islands’ subsidiary, Lion Brokers Limited, received its licence from the Cayman Islands Monetary Authority in September 2018.

Bermuda National Pension Scheme, Occupational Pensions

Where we are now - the highlights

Ireland Update: Time to Act - Protected Disclosures (Amendment) Bill 2022 Published

These changes are contained within the Bill, including the enhancement of obligations to reporting persons and increased protection from penalisation.

Regulator calls for improvements after assessment reveals failings

Given our capital investment requirements, the expansion of our regulatory remit and the increasing complexity of our regulatory landscape, a review has been undertaken to ensure that we maintain an appropriate reserve.

Finance minister expects ‘smaller’ $10 million deficit for 2021

Despite the absence of tourism revenues, government’s financial performance last year was buoyed by record revenues from fund, company and partnership registrations and stamp duties on land transfers.

Bermuda – Economic Substance Declaration Filings – 2022 Alert

For a newly in-scope fund management entity which has a financial year-end of 31 December, the first relevant financial period will be the financial year-end 31 December 2022.

Luxembourg Corporate: unregulated securitisation vehicles

As a leading hub in Europe for securitisation and structured finance transactions, Luxembourg offers a pragmatic and secure legal and tax

Changes to the GFSC enforcement process

Guernsey’s success as a financial services centre is underpinned by its ability to effectively regulate businesses operating from within it.

CBI: New leverage limits and liquidity guidance proposed for Irish domiciled property funds

Some impressive achievements, reinforcing Jersey Finance’s commitment to supporting the DIFC

Three more jurisdictions sign MLI, which now has 99 signatories and parties

Thailand’s MLI position identifies 58 tax treaties that it wishes to be covered by the MLI, while Vietnam’s MLI position identifies 75 tax treaties that it wishes to be covered.

The DIFC’s Recent Record Performance Reinforces Jersey Finance’s Gulf Commitment

Some impressive achievements, reinforcing Jersey Finance’s commitment to supporting the DIFC and collaborating to achieve our mutual aims as IFCs in facilitating high quality cross-border business.

Russia/Ukraine crisis: New sanctions regulation in force in Guernsey

In January, the US also introduced a bill to facilitate the imposition of sanctions in the event of a Russian invasion of the Ukraine, in the form of the Defending Ukraine Sovereignty Act of 2022.

Ireland Update: Time to Act – Protected Disclosures (Amendment) Bill 2022 Published

The Bill brings changes including the enhancement of obligations to reporting persons and increased protection from penalisation.

Regulation, Risk & Compliance