Managers of Wealth Offshore

US targets wealthy tax evaders using Panama law firm

10 institutions including Wells Fargo Bank, BofA, HSBC and Citibank to receive summonses

HMRC’s review of Family Investment Companies and their use for wealth planning

Whilst so far there have not been any significant changes to the taxation of FICs, we may see new anti-avoidance rules in the future.

Reforming a Cayman Islands STAR trust: A lesson in obsolescence

The written reasons recently released by the Court

Demystifying VASPs in Crypto Compliance

This definition encompasses a range of crypto businesses, including exchanges, ATM operators, wallet custodians, and hedge funds.

The Director Registration and Licensing Regime in the Cayman Islands

The DRLA also prescribes a licensing regime for corporate directors of Covered Entities.

NFTs: Authenticity, accessibility and equitability in the art world

NFTs are units of data created and stored on blockchain technology.

Dispute over CIFA finances following Cayman’s World Cup qualifiers

CIFA says player, staff payments were adequate following manager's criticism.

IoD welcomes "more proportionate" border policy

The emergency decision-making body has now sidelined that idea in favour of lateral flow tests on arrival.

JTC Comments: FCA Statement on SPACS

The consultation process was launched in April following a huge demand for SPAC listings in New York in 2020.

Ireland Update: Imposing Pay Cuts without Employee Consultation or Consent

This may be due the general level of acceptance by staff that pay cuts were unavoidable given the unprecedented circumstances.

Implications of the BVI Data Protection Act for Investment Funds

The remainder of this note focuses on the specific effect of the Act on investment funds.

A new era of assertiveness for the UK regulator

Newgate Compliance (an Ocorian owned company) Managing Director, Traci Pham and Senior Consultant, Jay Pyne summarise the key points and what firms can do to plan ahead.

Tax factsheet – The UK’s Statutory Residence Test

Considered at a high level, the SRT is relatively straightforward.

The International Stock Exchange - new Listing Rules

In order to increase TISEA's competitive position in respect of bonds issued under programmes, lifetime fees will be charged which will vary according to specific circumstances.

Jersey Employment Law Update: Paid leave, holidays and time limits

A recent case from the Jersey Employment Tribunal focuses on two issues – entitlement to paid bank holidays, and claims for unpaid holidays.

A Rapidly Changing Picture for Financial Services

A common theme to emerge from our recent virtual one-day conference was the dramatic pace of change that is underway.

Central Bank of Ireland Issues Revised AML and CFT Guidelines: Key Changes

The CBI has made a number of key changes to Chapter 6 on 'Governance', placing the main focus on the board's responsibility in ensuring effective governance and AML / CFT compliance.

Effective Compliance Requires Robust Monitoring

The challenge to designing and implementing a compliance monitoring programme is the significant resource, time and commitment required, those on the course heard.

Unauthorized: SCB warns RAY-E Securities Investment Company not registered entity

Commission cautions public against conducting business with unlicensed/unregistered entities

Trust Essentials: July 2021

The past year has been a difficult and unsettling one for many.

Regulation, Risk & Compliance