04/27/2021
GFSC – ‘We do not act as judge, jury and executioner’
THERE is no desire to look for ‘trophy cases’ when it comes to enforcement, the Guernsey Financial Services Commission has said.
Regulation, Risk & Compliance
04/27/2021
Big boost for ADR in The Bahamas as 10 new arbitrators achieve fellow status
CIArb Bahamas says country now has highest amount of fellows per capita in the region
04/27/2021
Funds & Investment Management Update - Ireland and Luxembourg - Q1 2021
On 1 March 2021, the European Banking Authority ("EBA") published its final report with revised guidelines on customer due diligence
04/26/2021
BMA Consultation on Changes to the Bermuda Solvency Capital Requirement Model for Insurers
The changes will introduce new asset classes with various sub-classes, such as loans and alternative investments including hedge funds and private equity, with the aim of providing more granular information to further differentiate the risks presented and
04/26/2021
Disclosing ultimate beneficial owners
It was further pledged that it would ensure law enforcement agencies have full and effective access to beneficial ownership information for companies and other legal entities registered within Malta.
04/26/2021
Cayman Islands Private Funds Act Extension to Filing Deadline for Audited Accounts
The Regulations set out the information a registered private fund must provide to CIMA, including in respect of each of the fund’s related fund entities, alternative investment vehicles and sub funds.
04/26/2021
KPMG in the Crown Dependencies appointed strategic development partner to Isle of Man Government
To develop a five to ten year Economic Strategy for the island.
04/26/2021
States of Guernsey to review need for new senior appointments
The Committee may agree recommendations, propose a different grade for a post (taking into account the position of relevant committees) or refuse new or replacement appointments.
04/26/2021
Tributes to “trailblazer” who paved way for Jersey women in law
The fund manager will takShe was then sworn in as an Advocate of the Royal Court in August 1968. e from almost all investment classes and products to pursue his strategy.
04/23/2021
Protection of Depositors (Amendment) Act, 2020
The Fund was established in 1999 to provide a crucial financial safety net of up to $50,000.00 for Bahamian dollar depositors in the event that a licensed bank fails.
04/23/2021
Guernsey funds team assists Chrysalis Investments with £300 million share issue
This latest share issuance is the first under this new Placing Programme.
04/23/2021
£140000 fine against Standard Chartered Guernsey subsidiary
The Commission considered it reasonable, proportionate and necessary to make these decisions having concluded that the Licensee failed to fulfil the minimum criteria for licensing (“MCL”), under Schedule 1 of the Fiduciaries Law, which set out
04/23/2021
Revision of the PIF Rules in response to industry consultation
The introduction of the two new routes for registration (neither of which require a Guernsey licensed manager) will be of particular interest to private capital
04/23/2021
Malta mired in golden visa scandal
Investigation reveals millionaires were given passports despite not meeting the conditions
04/22/2021
ASEAN Blockchain Consortium Formed to Collaborate on Digital Assets and Enterprise Blockchain, Strengthening Cross-Border Relationship
Memorandum of Understanding inked at virtual event organised by Blockchain Association Singapore
04/22/2021
Sure and JT reached secret agreement "with the object of preventing competition", says regulator
Mr Beak added that Sure was unhappy with how the investigation had been handled, saying it had been conducted in a "manifestly unfair" way.
04/22/2021
Mandatory climate risk assessment and disclosure
Those business with energy or land-intensive operations, or those with investments in these sectors, will find that a climate change risk assessment will show how exposed they are to both the physical and economic risks of climate change.
04/22/2021
Commission consults on the proposed re-issue of statutory instruments
It is also proposed that advertising restrictions applied to Personal Fiduciary Licensees will be repealed and such activity brought under the applicable provisions of the Fiduciary Rules.
04/22/2021
New PIF rules further enhance Guernsey’s funds offering
A third path will enable a PIF to be created as a bespoke private wealth structure requiring a family relationship between investors.
04/21/2021
Malta-based trust company fined
The company also neglected to “implement adequate internal control procedures to protect the scheme members from any financial losses” and “failed to ensure that the individual member accounts are adequately liquid at all times”.