Managers of Wealth Offshore

Notary fined €62,000 for breaching anti-money laundering rules

UBO shortcomings among main reasons FATF greylisted Malta

Resealing of Foreign Grants of Probate in the BVI – New Act brings welcome Clarity

After the death of the shareholder, any BVI shares will be effectively frozen; voting rights will likely be suspended and the BVI company will be unable to distribute any dividends paid on the shares because no one will be authorised to give a good receip

Warning: Four overseas financial service providers impersonated in scam

These scam businesses, their websites and email addresses are in no way related to the registered or previously registered businesses by the same names which are based in Belgium, Austria and The Netherlands.

Bermuda re/insurers paid $35bn to UK policyholders from 2016-2020: BMA

The US$35.2 billion in total losses paid is comprised of US$25.7 billion relating to property and casualty insurance losses and US$9.5 billion attributable to life insurance claims.

Maltese trusts – an attractive estate planning tool

Anjelica Camilleri de Marco, Senior Associate in Malta, outlines the adoption of trusts in Malta and examines their tax treatment.

Cap on cash transactions leads fight against money laundering

This cap which arose from a government policy discussed in parliament in 2019, will be enforced by a dedicated team from the FIAU.

FSC issues the Financial Services (Crowdfunding) Rules 2021

Both retail and expert investors will have the opportunity to participate, in a regulated environment, to the growth of SMEs, thus bolstering entrepreneurial spirit in the jurisdiction.

Award-winning cyber security expert to speak at Mourant Trusts Forums

David’s keynote will discuss how cyber criminals operate, the way criminals exploit businesses and their data, and what firms can do to guard against cyber crime.

Cayman private fund annual return deadline further extended

All private funds with a 2020 or a 2021 financial year-end up to 31 March 2021, must submit the FAR and RFE forms by this deadline. CIMA has confirmed that no further extensions will be granted.

ESMA guidelines on marketing communications

The guidelines will apply six months after the date of the publication of the guidelines on ESMA’s website in all EU official languages, ie from 2 February 2022.

Bermuda Reinsurers Claim Payments To UK Policyholders

The key role that Bermuda plays in the supply of risk capacity to the UK makes a notable contribution to a thriving London (re)insurance market.”

BVI enhances registered agent whistle-blower requirements

The revised section 54A came into force as of 19 July 2021.

Malta makes action plan FATF salvo to exit grey list

The plan gives no timeline of how long Malta expects to take to implement the necessary changes. Government sources told Times of Malta they think the process could stretch into 2023.

Cayman Islands – insolvency and segregated portfolios – Grand Court gives new guidance

The Cayman Islands segregated portfolio company provides asset and liability ring-fenced, separate, segregated portfolios.

Hong Kong | Management and disclosure of climate-related risks by fund managers

Who is impacted?

The new EU Commission AML/CFT legislative package revealed

If adopted as such, it will trigger substantial amendments to the current AML/CFT framework.

SEC sues Rivetz over Cayman-based US$18 million token sale

The token sale between July and September 2017 raised the equivalent of US$18 million from investors

CIGA, Brexit and the recognition of Part 26A Restructuring Plans in Guernsey and Jersey

This Walkers’ briefing addresses issues that may be relevant to the recognition of foreign insolvency officeholders

JTC Reaccredited As STEP Gold Partner

At JTC, we strongly believe in continuous learning and development; this is essential in our mission to be excellent in what we do and therefore excellent in how we support our clients and each other.

Jersey Resolution Authority for banks to be set up with JFSC support

The Authority will set the strategic direction of work on bank resolution, oversee the exercise of its legal duties and obligations, and help raise the international profile of the Authority among international counterparts.

Regulation, Risk & Compliance