10/12/2020
BMA registers eight new insurance entities in September
The Bermuda Monetary Authority registered eight new insurance entities in September.
Regulation, Risk & Compliance
10/12/2020
The BMA’s Jeremy Cox to be awarded a CBE
Jeremy Cox, the executive chair of the Bermuda Monetary Authority (BMA) is being awarded a Commander of the Order of the British Empire (CBE) as part of the 2020 Queen’s Birthday Honours.
10/12/2020
OECD drafts principles for $100bn global corporate tax revolution
Technical blueprint would upend taxation of US tech groups but still needs political agreement
10/09/2020
Changes to Jersey’s Social Security pension age and approved Jersey pension schemes
Update prepared by Ed Devenport (Partner, Jersey) and Carly McIver (Senior Associate, Jersey)
10/09/2020
Exchange of information with 86 countries on around 3,1 million financial accounts
These countries have claimed technical difficulties due to the COVID-19 crisis.
10/09/2020
Guernsey fintech business The ID Register spins out of Apex Group
Each investor controls their own information in a profile, which, once approved, they can connect to their investments and service providers like a “passport”.
10/09/2020
European Lawmakers Are Looking For New Ways To Fight Money Laundering In The Wake Of The FinCEN Files Investigation
“The FinCEN Files illustrate the vast scale of the problem,” Šuica said.
10/08/2020
No Swearing Please – Ireland Updates its Rules on Written Evidence
The Act is an omnibus one and addresses various matters, however this advisory focuses on the introduction of statements of truth into Irish law for the first time.
10/08/2020
Commonwealth Finance Ministers call for extended financial support for vulnerable nations
It also appeals to multilateral development banks to be more flexible in their treatment of the impact of COVID-19 so that countries have easier access to financing.
10/07/2020
The offshore cash conundrum solution
Offshore policy wrappers offer some real solutions to some of the potential issues with investing offshore.
10/06/2020
Lost trust: leaked files expose Jersey’s inaction on fraud scandal
But behind the scenes, it used client money for personal expenses by borrowing from clients under the guise of investments and onboarding new clients to repay the existing ones.
10/06/2020
Eastern Caribbean Central Bank calls for resilience to Covid-19
The topic: financial empowerment through education advocates this year for the resilience of ECCB´s members in order to counterattack stressful economic events such as unemployment, divorce, disability and health issues.
10/06/2020
Trina Solar Limited and the meaning of 'fair value' in s.238 fair value appraisal cases
The Court held that it is not bound to determine value based only on a hypothetical sale on the open market
10/06/2020
Lugano bank ‘seriously breached anti-money laundering regulations’
The breach is in connection with the handling of Venezuelan client relationships.
10/06/2020
HSBC and UBS: Still more dirty deals by big banks
The bank is no stranger to such allegations, having squandered its reputation in a string of lawsuits brought against it for allegedly laundering $881 million for Mexican drug cartels.
10/06/2020
China's Hong Kong signs tax pact with Georgia to avoid double taxation
This CDTA will come into force after being approved by related authorities of both sides.
10/06/2020
Cayman’s financial services industry pleased with EU’s recognition of Cayman Islands cooperation
Cayman Finance and the Cayman Islands financial services industry actively support the Cayman Islands Government’s efforts to ensure our tax neutral regime remains progressive, continuing to meet the highest evolving global standards on transparency
10/05/2020
Cayman: Pension withdrawals have totalled some $400 million
Most individuals withdrew the maximum amount allowed under the law.
10/05/2020
Clarien Bad Loans Weigh On NCB Financial
Defaulted loans which are unserviced for 90 days within Clarien Bank worsened in March to over US$91.7 million, up one-third year-on-year from US$68.8 million.
10/05/2020
JFSC warns investors to be cautious in times of crisis
Many islanders won’t consider themselves investors but anyone who has a bit of money put aside and needing to make a decision about what to do with it is an investor.