Managers of Wealth Offshore

Amended economic substance regulations and guidance released

The Registrar also circulated a draft copy of the revised ES guidance notes, which explain the changes included in the ES Amendment Act 2021.

Harneys Cayman office converts to limited liability partnership

The name of the firm remains the same

Isle of Man refreshes AML strategy

The Isle of Man has increasing success in this area

Grappling with new risks on the register

Two recent reports may be helpful to shed light on the broader context to help understand the changing risk landscape.

BMA licenses six re/insurance entities in June

It takes the full number of BMA registrations for 2021 to 39, of which eight were intermediaries.

Top tips for responding to a CIMA onsite inspection

Onsite inspections may be full scope, involving a review of all areas of the licensee's operations

Central Bank of Ireland publishes findings of MAR compliance review

This briefing summarises the main findings of the CBI and the steps that market participants should take now to address their obligations and to achieve the standard of compliance expected by the CBI.

Mauritius now 17th country in Global Index repository for banks, with MBA’s support

Mauritius was an early adopter.

Treasury issues ‘priorities’ required by AML Act, experts cite minimal value to compliance

The priorities reflect the U.S. government’s view of the threat landscape

“Endlessly evolving standards” responsible for 10% hike in GFSC fees

The Commission has invested £3.6 million in its IT system over the past three years to keep up with technological developments and prepare for a major international inspection, expected in 2023.

Ireland Update – Central Bank of Ireland updates AML/CFT Guidelines for Financial Sector

The Updated Guidelines list a number of steps that the Board should take in order to meet the necessary standard of governance and oversight.

‘Corporate Housekeeping’ - Re-domiciliation of Equiom Group Holding Companies

Established in the Isle of Man in 1978, Equiom now has a truly global footprint with 18 offices around the world and employs close to 600 staff.

Malta’s true colours beyond grey

Local businesses were the main drivers of this evolution and today we measure our business ecosystem against the highest international standards.

New ESMA Guidelines For Fund Marketing Communications

The Guidelines have been issued in the context of the new EU regime on the cross-border distribution of investment funds

GFSC launches consultation on 10% fee increase

The additional income provided by the proposed fee increase would be invested in increasing staffing numbers within key areas of the Commission, such as the Authorisations Division where we are seeing an increase in applications.

Loan origination - CSSF guidance on private lending

Finally, the CSSF has highlighted the non-application of the article 28-4 of the LFS to professionals carrying out activities whose taking up and pursuit are governed by special laws, including notably UCIs, SIFs, pension funds, SICARs and securitisation

Regulation, Risk & Compliance