05/19/2021
The House of Green—Guernsey’s “Saving Grace” As Cannabis Reform Spreads Through Europe
A determined band of international cannapreneurs, The House of Green, has a big dream for the future of cannabis in the British Channel Islands.
Regulation, Risk & Compliance
05/19/2021
BVI introduces data protection regime
The background to this is of course the drive for the BVI to become equivalent with the UK and European Union in this area, in particular under the EU’s General Data Protection Regulation.
05/18/2021
Guernsey’s Competition and Regulatory Authority reduces red tape and cost to businesses
Guernsey businesses and prospective investors, franchises and other commercial chains no longer need to register agreements, for approval, where they fall into a category deemed unlikely to be harmful.
05/18/2021
Mourant Regulatory Update - Guernsey Corporate - Q1 2021
If you have any queries in relation to any of the topics raised, or if there are any areas you think it might be useful for us to cover, please don’t hesitate to get in touch.
05/17/2021
Guernsey Finance finalising paperwork on new States funding
There is firm interest from across Asia - including Hong Kong and Saudi Arabia - and from businesses in South Africa, where a dedicated representative has recently been employed to drive growth in sub-Saharan Africa.
05/17/2021
Commission to deregulate Non-Guernsey Scheme regime
The Guernsey Financial Services Commission has revoked the Non-Guernsey Scheme regime and its associated rules.
05/17/2021
Ireland's Implementation Plan to Tacle Economic Crime and Corruption
This is a further step towards the passing of new legislation to set up an independent Corporate Enforcement Authority which is intended to replace the existing Office of the Director of Corporate Enforcement.
05/16/2021
Financial services buoyed by strong demand for entity formations
The banking sector continued its perpetual decline from more than 600 banks in the late 1990s to 121 today – three fewer than at the end of 2020.
05/16/2021
CIMA Defends Decision to Impose AML Obligations on Maples Group
Financial services providers should also be aware that, given the increased scrutiny which the Cayman Islands faces due to our ongoing international obligations
05/14/2021
Partnerships to be brought within scope of Guernsey's economic substance requirements
Partnerships in existence as at 30 June 2021 will be in scope for accounting periods commencing on or after 1 January 2022 and partnerships formed on or after 1 July 2021 will be in scope from the date of formation.
05/14/2021
Bahamas Legislative Update: Protection of Depositors (Amendment) Act, 2020
The PODDA provides timely enhancements to a regime that is critical to the reliability and soundness of the banking system in The Bahamas.
05/14/2021
BMA issues five re/insurance licences in April
It also issued a licence to MoonGate Group to act as an insurance broker.
05/14/2021
GFSCommission’s 2020 Annual Report
Much of the key policy work undertaken last year was designed to assist industry
05/14/2021
Maples seeking judicial review of AML regulations
Group disagrees with CIMA’s interpretation
05/14/2021
Fears of ‘significant deterrent’ for whistleblowers as top EU court quashes Lux Leaks case
The European Court of Human Rights ruled that Luxembourg’s treatment of whistleblower Raphael Halet “struck a fair balance” between protecting his freedom of expression and the rights of PwC, despite objections from two dissenting judges
05/14/2021
EU plans to ban cash payments above €10,000 in AML move
Some member states currently have ceilings on cash payments, ranging from €500 in Greece to €15,000 in Poland.
05/14/2021
Bermuda: CRS deadlines extended and reminders issued
The extension is as a result of the ongoing effects of COVID-19.
05/13/2021
Guernsey Update: New Plans for Bringing Partnerships in Scope of Economic Substance Rules
These changes will be most relevant to the funds industry in Guernsey
05/13/2021
Financing a Cayman Islands merger take-private
Privatisations by way of a Cayman Islands statutory merger are often financed by loans.
05/12/2021
ECSRC confirms new qualifications regime with CISI
The CISI is the not for profit, global membership body for those working in capital markets, wealth management and financial planning, with 45,000 members in over 100 countries.