Managers of Wealth Offshore

Enforcement against Jersey structures – some recent developments

The interests of a discretionary beneficiary are not by their nature transmissible.

MFSA fines in 2020 were almost as high as in previous three years combined

Financial regulator's annual report highlights increase in enforcement action

Brexit - Guernsey and Jersey employers and the EU Settlement Scheme

The Scheme provides a mechanism for such persons to apply for settled status.

Guernsey Financial Services Commission Amends Finance Sector Code of Corporate Governance to Consider Climate Change

The updated Code asks boards to consider the impact of climate change on their strategy and risk profile and, where appropriate, make climate change related disclosures.

Luxembourg data protection authority publishes first decisions

These decisions are just a small foretaste of more extensive and stricter supervision by the CNPD, as multimillion fines are being announced and data activists are appealing certain decisions of the CNPD where no fine was imposed.

EU warns Luxembourg with daily penalty threat over AML rules

The rules that the Commission claims Luxembourg has failed to implement were "a crucial tool to break criminals' business models and combat organised crime.

Let's Talk About Jersey Economic Substance: Holding Company Business

As a part of its base erosion and profit sharing (or BEPS) initiative, the European Union required OFCs, like Jersey

Surge in Interest from High Net-Worth Individuals Applying to Relocate to Jersey

As part of the relocation process applicants will be required to purchase a property locally.

Ireland | Directors' Duties – FAQ

Under the Act, directors’ duties are owed to the company and the company alone.

MALTA: Cap on cash transactions leads fight against money laundering

The cash restriction is therefore aimed at reducing the risk of money laundering and tax evasion through this method.

Guernsey launches new Economic & Financial Crime Bureau

As the Committee regularly reviews the work taking place across its remit with a view to continuous improvement

Employer opportunity created by Guernsey secondary pension scheme delay

The need for a new scheme has been on the States' agenda for some time and was originally intended to be implemented by January 2022.

Home Affairs launch the new Economic & Financial Crime Bureau

As the Committee regularly reviews the work taking place across its remit with a view to continuous improvement, a need was identified to strengthen the Bailiwick's response to financial and economic crime.

Consultation Paper on the Codes and Guidance Documents proposed to be re-issued under Revision of Laws

The draft codes and guidance do not implement policy change but replicate the current codes and guidance with the incorporation of minor amendments such as updated references and new terminology where necessary.

Regulator unveils updated Code of Corporate Governance at Sustainable Finance Week

Panelists discussed the positive impact of international collaborative bodies

CIMA issues important reminder to operators of Cayman Funds: The Appointment, Duties and Responsibilities of Anti-Money Laundering Officers

Licensees and Registrants are further required to ensure that appropriate appointments and the discharge of the day to day functions of these AML Officers are made or occur in accordance with Regulations 3, 4, 33 and 34 of the AMLRs.

Regulation, Risk & Compliance