Managers of Wealth Offshore

Malta mired in golden visa scandal

Investigation reveals millionaires were given passports despite not meeting the conditions

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

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.

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.

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It is also proposed that advertising restrictions applied to Personal Fiduciary Licensees will be repealed and such activity brought under the applicable provisions of the Fiduciary Rules.

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.

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”.

Commission confirms decision to increase Private Investment Fund (PIF) options

All currently registered PIFs continue to be registered under the current “Path 1” regime which remains available to those wishing to raise money from broader categories of investor.

CIMA extends deadline for first filing of audited accounts and associated FAR form by Private Funds to 30 September 2021

The extension relates only to the FAR forms for Private Funds. For the avoidance of doubt, FAR forms relating to open-ended mutual funds registered under the Mutual Funds Act (Revised) must still be filed within six months of the relevant financial year e

Risk of Jersey's finance industry being used to fund terrorism classed as medium to low

A key recommendation is for the island to develop a more robust skills base across the public and private sectors to 'identify, investigate and supervise compliance with terrorist financing requirements.'

Private Investment Fund Rules and Guidance 2021

The changes provide for two new categories of PIF, neither of which require a licensed manager.

Not business as usual at FIAU

Fight against money laundering 'not a sprint but a marathon'

Corporate governance of ILS vehicles – A view from the boardroom

Executive Director, Sherman Taylor serves on the board of a number of ILS vehicles registered in Bermuda.

Govt announces financial legislation to come into effect this summer

“It will require significant staff training, vendor education and awareness, and the establishment of new functions such as a tribunal to handle disputes.”

ABN Amro to settle money laundering probe for $574 million

The investigation into ABN started a year after fellow Dutch bank ING paid a record fine of 775 million euros to settle a similar case.

How does Brexit affect the UK’s Anti-Money Laundering laws?

This whitepaper sets out to uncover the impact of Brexit upon the UK’s AML laws and what these changes mean for regulated businesses in the UK.

Jersey: Return to the Office – Anxiety, Discrimination and Reluctant Employees

Businesses have been provided with specific guidance to make your RTW space as safe as possible.

Getting ready for the 30 April 2021 Cayman Economic Substance filing deadline

The Cayman Entities affected include all legal persons that are registered with the Cayman General Registry i.e. companies of all kinds and limited partnerships.

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.

Regulation, Risk & Compliance