Managers of Wealth Offshore

Jersey-based corporate turnaround consultancy launched

The IFT is the UK’s leading membership organisation for turnaround experts.

Walkers Acts on Kettle Limited's Bermuda Innovative Agent Licence

Walkers was led by Bermuda partners Peter Dunlop and Natalie Neto, supported by Senior Associate Rachel Nightingale.

Company service providers have one month left to register with MFSA

Regulator holds virtual meeting with more than 500 CSPs

STM Group delays results after Court of Appeal case

The delay is due to the ruling in relation to the Adams v Carey case as announced by the Company on 1 April 2021.

AML systems and controls – an ever-increasing area of focus

Mr Steward addressed how seriously the FCA takes this crucial area of regulatory focus and reiterated the requirement for firms to have in place systems and controls that are purposeful and efficient in managing financial crime risk.

Ferbrache & Farrell assist on first limited partnership migration out of Guernsey using new legislation

The application involved both Guernsey legal and regulatory aspects, as well as dealing with US Counsel in order to ensure the migration into Delaware.

Ireland Update – Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021

These obligations are expected to come into further focus as the European Commission designates additional high-risk third countries in response to the FATF expanding its list of monitored jurisdictions.

BMA confirms eight new re/insurance entity registrations in March

The BMA also approved Kettle as an innovative intermediary and BGC Re (Bermuda) as an insurance broker.

Walkers' Guernsey team advises Platinum Compliance on sale to Ocorian

Platinum Compliance's regulatory and compliance services will now be also offered by Ocorian as part of an integrated client service offering.

40% of Tavistock shareholders reject Jersey fund M&A bid

Board does not see any ‘commercial logic to justify a combination of the two businesses’

Financial sector gets breathing room after dividend reprieve

Foreign exchange outflows expected to increase

Financial Sector Reform Program Curaçao and Sint Maarten

The analysis has also revealed the need for legislative and regulatory reforms in the areas of intervention, enforcement, and resolution.

Breaking down your offshore allowance

How much, how often and what to do if you breach the limits?

Cyprus, Ghana and Kenya join growing list of countries to create beneficial ownership registries

The Panama Papers scandal helped create a “snowball effect” of international awareness on how anonymous corporate vehicles can enable tax evasion, corruption, and crime, advocates say.

Mauritius updates to the Anti-Money Laundering and Combatting the Financing of Terrorism handbook

The Financial Services Commission (FSC) in Mauritius issued an Anti-Money Laundering and Combatting the Financing of Terrorism Handbook 2020 (AML/CFT Handbook) in January 2020

Malta launches new citizenship by investment programme

It is a member of the EU and offers its citizens visa free travel to over 180 countries.

MAS Imposes Composition Penalty of S$1 million on Bank J. Safra Sarasin

The penalty amount took into consideration BJS’s remediation actions to address deficiencies that were identified by MAS.

BVI Incubator and Approved Funds – when and how to convert

The new fund categories have proved popular with many new managers and, thanks to their growing asset bases, many of these managers are now reaching the threshold limits for conversion.

BMA Introduces Innovation And ESG Subject Matter Expert Team

The team will also work with climate change risk solution service providers (to the financial services sectors) wishing to participate in the Authority’s innovation hub.

Cayman Regulatory Update - Q2 2021

The Regulatory Update provides a snapshot of the key legal developments in the Cayman Islands over the last quarter.

Regulation, Risk & Compliance