Managers of Wealth Offshore

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)

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.

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”.

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.

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.

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.

The offshore cash conundrum solution

Offshore policy wrappers offer some real solutions to some of the potential issues with investing offshore.

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.

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.

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

Lugano bank ‘seriously breached anti-money laundering regulations’

The breach is in connection with the handling of Venezuelan client relationships.

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.

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.

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

Cayman: Pension withdrawals have totalled some $400 million

Most individuals withdrew the maximum amount allowed under the law.

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.

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.

HSBC Ignored Jersey Fraud Warnings

The company making these false claims, Pantrust International, was a successor to La Hougue, a Jersey trust company.

Negotiating Bermuda’s borders

At the gate, an official in scrubs, mask and “shower cap” instructed visitors to stay six feet apart, while another similarly-clad health official took the temperature of people waiting in line.

Whistleblowing in Guernsey and Jersey - What Employers Need To Know

The specific rights which afford this protection are those conferred under the Islands’ respective employment protection

Regulation, Risk & Compliance