Managers of Wealth Offshore

Outsourcing your AEOI compliance: Why And How?

To comply with the requirements, reportable financial institutions had to find significant new technical resource to stay on top of and comply with the new regulatory environment.

BOJ plays middleman on real estate money-laundering talks

Jamaica continues to be greylisted by FATF for non-compliance with the global AML/CFT regime.

Jersey’s public and private sectors work together to combat cyber risk

This will help local organisations to prepare for a cyber incident, and enable them to test their cyber incident response capabilities effectively.

JFSC Feedback: Proposed fees for General Insurance Mediation Businesses, Money Service Businesses, Trust Company Business and Designated Non-financial Businesses and Professions

In order for us to deliver as a high performing regulator, and to continue to meet this new legislation the funding levels have been increased.

Upcoming Cayman Islands Economic Substance Reporting Deadlines

For entities with a different financial year end, the general rule is that the ES Return or TRO Form is required to be submitted within 12 months after the end of the entity’s applicable financial year.

Walkers Acts on First Successful Virtual Asset Service Provider Registration

The registration approval is the first to be granted by the Cayman Islands Monetary Authority under the new Act, and represents a very exciting development in the growing virtual asset and fintech industry in the jurisdiction.

Isle of Man fines corporate and trust services firm

The Isle of Man Financial Services Authority (the “Authority”) makes this public statement in accordance with powers conferred on it under section 13 of the Financial Services Act 2008 (the “Act”).

Central Bank of Ireland Provides Details for Taxonomy Regulation and SFDR Level 2 Fast-Track Processes

The TR requirements will apply from 1 January 2022.

First licence secured for cannabis cultivation locally

The medicinal cannabis industry has been championed by Deputy Neil Inder, President of the Committee for Economic Development, as potentially an important economic sector for island.

LV to be run from tax haven after £530m deal: Private equity predator registers shell company in Jersey

Private equity firms often use complex webs of offshore companies in the Isle of Man, Jersey and the Cayman Islands to take advantage of lower taxation and disclosure requirements.

The third Annual Monitoring Report for the Island Development Plan has been published

The report also shows that there was a high rate of approval of planning applications in 2019 and 2020 (only 131 applications were refused out of 3,081 applications determined) and only 4 appeals against refusal of planning permission were decided during

Employment & Social Security engages with local pension providers following withdrawal of preferred supplier

Initial discussions have taken place with local pension providers, from which the Committee has determined that there is significant interest in providing the scheme.

MCE Insurance Company enters administration

The Gibraltar Financial Services Commission has announced that MCE Insurance Company Limited has entered into administration.

Guernsey: Will Guernsey's Regulated ESG Funds End Greenwashing?

This is often linked to the scarcity of data provided by portfolio companies – and highlights the need for them to work with asset managers on a consistent, pragmatic but ambitious approach to ESG.

CYPRUS: Latest amendments to Companies Law Cap.113

Section 361A is amended by reference to the Open-Ended Undertakings for Collective Investment Law and/or Alternative Investments Law.

Transforming a black swan into a phoenix the British Virgin Islands’ solution to standalone injunctive relief

Dispute Resolution International is distributed to all members of the IBA Dispute Resolution Section, giving it a readership of approximately 4,000. It is published twice a year and was launched in May 2007.

Lloyd’s head meets Bermuda industry leaders

Lloyd’s of London CEO John Neal was in Bermuda this week meeting regulatory and insurance leaders.

Credit Suisse's Settlement Under Scrutiny

Credit Suisse settled tax fraud allegations with the U.S. Justice Department (DoJ) for $2.6 billion.

Jersey aims to build ties with Oman

The Minister also met with the Central Bank of Oman, the Ministry of Finance and the Tax Authority of Oman to "discuss how to develop the Oman-Jersey relationship in a number of areas.

Guernsey linked to thousands of UK property ownerships

THE legal ownership of thousands of properties in the UK has been linked to Guernsey by new research.

Regulation, Risk & Compliance