Managers of Wealth Offshore

Successful transactions of securities with Central Bank Digital Currency

Banque de France successfully used Central Bank Digital Currency in a test environment

SEC charges three more defendants in alleged US$30 million ICO fraud

The SEC’s complaint charges Hamid, Gietz, and Page with violating, as well as aiding and abetting violations of, antifraud provisions of the federal securities laws and with violating securities registration requirements.

Guernsey Economic Substance Update: Scope Extended to Include all Partnerships from 30 June 2021

These new regulations consolidate all existing regulations issued to date regarding economic substance in Guernsey and also extend the scope to include all forms of partnership (general partnerships, limited partnerships and limited liability partnerships

GDPR - EU Commission adopts new Standard Contractual Clauses

This judgement declared the EU Commission's decision on the adequacy of data protection provided by the EU-US Privacy Shield invalid

KPMG and The ID Register form alliance

Service providers to rely on The ID Register, reducing risk, overheads and barriers to growth.

Data regulation replaces tax rate as top investment factor, survey finds

Regulatory regime biggest driver for firms seeking to make data-related investments in EU

Pension holiday rolls on for six more months

While neither employers nor employees will be required to make mandatory contributions, voluntary payments can be made if there is an agreement between them.

US lawmakers pass offshore disclosure and ESG standardisation bills

Under the ESG bill, the Securities and Exchange Commission (SEC) will create definitions of ESG metrics and mandate standardised ESG disclosures.

Offshore income, assets abroad: Time limitation not made part of Finance Act 2018

Earlier, there was a restriction of five years, but now there will be no time limitations after approval of this law from the National Assembly of Pakistan through Finance Bill 2021.

Enforcement against Jersey structures – some recent developments

The interests of a discretionary beneficiary are not by their nature transmissible.

MFSA fines in 2020 were almost as high as in previous three years combined

Financial regulator's annual report highlights increase in enforcement action

Brexit - Guernsey and Jersey employers and the EU Settlement Scheme

The Scheme provides a mechanism for such persons to apply for settled status.

Guernsey Financial Services Commission Amends Finance Sector Code of Corporate Governance to Consider Climate Change

The updated Code asks boards to consider the impact of climate change on their strategy and risk profile and, where appropriate, make climate change related disclosures.

Luxembourg data protection authority publishes first decisions

These decisions are just a small foretaste of more extensive and stricter supervision by the CNPD, as multimillion fines are being announced and data activists are appealing certain decisions of the CNPD where no fine was imposed.

EU warns Luxembourg with daily penalty threat over AML rules

The rules that the Commission claims Luxembourg has failed to implement were "a crucial tool to break criminals' business models and combat organised crime.

Let's Talk About Jersey Economic Substance: Holding Company Business

As a part of its base erosion and profit sharing (or BEPS) initiative, the European Union required OFCs, like Jersey

Surge in Interest from High Net-Worth Individuals Applying to Relocate to Jersey

As part of the relocation process applicants will be required to purchase a property locally.

Ireland | Directors' Duties – FAQ

Under the Act, directors’ duties are owed to the company and the company alone.

MALTA: Cap on cash transactions leads fight against money laundering

The cash restriction is therefore aimed at reducing the risk of money laundering and tax evasion through this method.

Guernsey launches new Economic & Financial Crime Bureau

As the Committee regularly reviews the work taking place across its remit with a view to continuous improvement

Regulation, Risk & Compliance