04/29/2022
Fund Liquidity – An Overview of Key Guidance Issued
In this update we provide an overview of this and other guidance and proposals issued on this topic as highlighted in the timelines on the right-hand side of these pages.
Regulation, Risk & Compliance
04/29/2022
Signatures for Sale: How Nominee Services for Shell Companies Are Abused to Conceal Beneficial Owners
The report draws evidence from a global mystery shopping exercise based on thousands of solicitations for shell companies, as well as marketing information from shell company providers, and journalistic and policy research on the topic.
04/28/2022
Morningstar acquisition of Praemium International greenlit
FCA and Jersey regulator give deal their respective nods of approval
04/28/2022
Minister hints at forthcoming financial services legislation
Going forward, the minister said Cayman would have to “innovate in a smart way”.
04/27/2022
Government of Jersey publishes first National Risk Assessment of Non-Profit Organisations
This latest report concludes that, overall, the non-profit sector in Jersey presents a medium to low risk.
04/27/2022
Labor to ramp up multinational tax avoidance fight
An Anthony Albanese-led government would limit debt-related deductions by multinationals at 30 per cent of profits,
04/27/2022
Bisx-Listed Fund ‘Stabilises’ With Commitments For $8m
Mr Anderson said Bahamian investors typically gravitate to dividend-paying stocks, focusing on the short-term as opposed to taking the longer view.
04/26/2022
First National Bank Closes its Doors to The Public
The FNB already under huge organizational pressure following the recent acquisition of the Royal Bank of Canada can ill-afford disruptions in its operations.
04/26/2022
Changes to Jersey's Control of Housing and Work Law approved
The intention is to allow more responsive migration controls so that the law can align with population policy changes over time, allowing the Government to manage the flow of people into the Island.
04/26/2022
Your World in Jersey: Reasons why many South Africans are moving to the Island
There are historical links between Jersey and South Africa, too.
04/25/2022
Chambers Corporate M&A 2022 Global Practice Guide – Trends and Developments, Cayman Islands
Learn more about recent trends and developments in the Cayman Islands
04/25/2022
Government of Belize following through with plans to raise minimum wage to $5; launches call for consultancy services proposals
Тhе mіnіѕtrу аddеd thаt thе соnѕultаnt іѕ ехресtеd tо ѕtаrt wоrkіng durіng thе mоnth оf Арrіl 2022 аnd соnсludе thе ехеrсіѕе аt lеаѕt, bу Осtоbеr 2022.
04/25/2022
Bedell Cristin is shortlisted for Offshore Law Firm of the Year at Chambers Europe Awards 2022
The awards recognise achievements of law firms based on research for the latest edition of the Chambers Europe guide (2022).
04/25/2022
Reclaiming Lost Ground’: Gov’Ts Digital Asset Plan
Pledging to work with the Central Bank and private sector to enable Bahamians to invest in digital assets using Bahamian dollars
04/25/2022
ABIR opposes S&P’s ‘disruption’ of senior debt
S&P has requested comments by April 29 on its proposed methodology and assumptions for analysing the risk-based capital adequacy of insurers and reinsurers.
04/25/2022
Updated Consolidated AML/CFT Handbook to capture change in legislation for imposing civil financial penalties
The changes to the Handbook are purely administrative in nature.
04/22/2022
Central Bank of Ireland makes changes to controlled function roles for financial firms
The CBI has also created another new standalone role, that of head of anti-money laundering and counter terrorist financing compliance (PCF-52). This is in addition to the existing role of head of compliance (PCF-15).
04/22/2022
Cyprus announces expansion of responsibilities of the Financial Sanctions Advisory Committee
The examination of requests in relation to the wrongful freezing of funds at credit institutions.
04/22/2022
Snapshot: Cayman Islands Court of Appeal clarifies test for security for costs in context of recovery claims by official liquidators against former management
The Court was satisfied that its conclusion "involves no element of prejudgment on the substantive issues raised in the proceedings" and overturned the decision on appeal.
04/22/2022
HSBC introduces ‘Quiet hour’ in branches to support customers with sensory needs
Staff will be available in the branch during that hour but won’t proactively approach customers in order to keep noise to a minimum.