Managers of Wealth Offshore

BML strengthens its 'Retailers' Loan', reduces minimum qualifying average

BML will not take into account the months from April through June as "many businesses were negatively impacted due to the lockdown period".

Digital asset legislation hailed as “big win”

“It shows that we are embracing the digital assets space, the Blockchain and crypto space and also provides us an avenue to new industries, which we really need. It’s going to be a big win for us.”

New Pension and Fiduciary Rules Coming into Force in Guernsey–What do Guernsey Licensees Need to do Now?

A key intention in the introduction of the Fiduciary Rules is to consolidate and strengthen the existing regulatory framework, to replace existing GFSC Codes of Practice and bring the regime into compliance with the Group of International Finance Centre S

Barbados governor hits back at AML ‘blacklisting’

Cleviston Haynes told journalists the central bank was “concerned” about the “pernicious” impact of the blacklisting by the EU

New rules expected to boost virtual assets sector in Cayman Islands

The new rules are expected to boost business in the sector by allowing the supervision of businesses providing services in the arena and help Cayman meet the latest recommendations from the Financial Action Task Force.

Panama deposits its instrument of ratification for the Multilateral BEPS Convention

The Convention will become effective on 1 January 2021 for over 600 treaties concluded among the 56 jurisdictions, with an additional 1200 treaties to become effectively modified once the MLI will have been ratified by all Signatories.

Key differences between Jersey and English commercial property transactions

The parties either appear personally before the Royal Court or appoint an attorney or authorised representative to appear on behalf of themselves or their company.

JFSC brings forward fee reduction to support local firms

We understand the importance of providing companies registered in Jersey with some consistency in relation to fees, so that they can plan for the future.

Financial services providers operating outside the BVI granted extension

This is not the first time an extension has been granted.

Cayman reports anti-money laundering progress to FATF

This year, the Cayman Islands Monetary Authority, the jurisdiction’s financial regulator, became the supervisor of registered persons – the previously unregulated excluded persons – for anti-money laundering purposes.

The Cayman Islands Administrative Fines Regime & Investment Funds

This update provides a non-exhaustive overview of some of the most pertinent AFR fines applicable to Cayman Islands regulated investment funds and their operators.

Statutory Demands In Guernsey

A statutory demand is a formal written demand made by a creditor of a debtor for satisfaction of an outstanding debt.

Restricted Purpose Companies – The SPV in its purest form

Of all the offshore transactions I’ve worked on, only three have featured restricted purpose companies, and I feel rather lucky about that, as I know many even more experienced practitioners who haven’t seen any at all.

Cayman Islands introduce regulations for virtual asset service providers

The notorious tax haven appears to be cleaning up its act on AML and counter terrorist financing ahead of an FATF review.

The Remote Trustee: Getting Your House in Order After the COVID-19 Pandemic

One important consequence coming out of the COVID-19 pandemic was the (sudden) obligation on businesses to embrace remote working for employees.

FSC releases consultation papers on Robotics and AI as well as Crowdfunding

The consultation paper then goes on to elaborate the substance requirements as well as the risk and governance framework applicable to such an entity.

Significant Achievements Reached by Cayman Islands in CFATF Assessment Efforts

The Cayman Islands has been tasked with implementing the Recommended Actions arising from an assessment of the jurisdiction by the CFATF (Caribbean Financial Action Task Force), the regional body of the FATF.

Lombard Bank fined €340,000 by FIAU over money laundering shortcomings

FIAU finds low level of risk assessment and enhanced due diligence for PEP and voluminous transactions at Lombard Bank

The Bahamas launches one-year extended stay program

The Bahamas said that not only will visitors be encouraged to enjoy the white sand beaches, incredible blue-hued waters and delicious cuisine

Pensions problems in OTs raised in House of Lords

State pensions are uprated only if the recipient lives in a country with a reciprocal agreement under UK government policies.

Regulation, Risk & Compliance