Managers of Wealth Offshore

Inside the corruption allegations plaguing Malta

— Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News

ILS Capital Management completes the first ever securitisation of trapped capital

According to ILS Capital there is around $15 billion of trapped capital, globally.

Central Bank warns banks against using unemployment benefits to repay loans

The regulator added that it has requested that commercial banks and credit unions maintain adequate systems to preserve COVID19 income replacement proceeds for their intended social safety net use.

Collas Crill Explains ... Migrating a Company to Guernsey

The foreign company must take any steps necessary for it to migrate to Guernsey under the laws of its original jurisdiction.

Limited partnerships – a new statutory migration regime for Guernsey

The Regulations make it clear that migration does not create a new legal entity. Rather, the foreign law limited partnership 'continues' in Guernsey as a Guernsey law limited partnership.

Private Funds Transitional Registration Period Closed

Despite the many challenges faced, CIMA looks forward to working with all industry stakeholders, the Cayman Islands Government and other competent authorities to ensure that the jurisdiction remains a top domicile for funds services.

How to support corporate clients in light of an unforeseeable future

At this point in time it’s impossible to estimate how many businesses will be affected and what that will mean in terms of destroyed business value and assets.

PraxisIFM and Oak to form new financial services group

Oak, a specialist in private client, corporate and fund administration has 20 years’ experience and grown rapidly across six jurisdictions with 200 employees worldwide.

Dpm Rejects Bahamas 'Debt Crisis' Description

If accurate, such projections imply that more than $1 out of every $5 earned by the Government in revenue will be used to meet foreign currency debt payments, thereby sucking increasing sums away from critical public services such as healthcare, social se

Offshore bond issuances by Chinese firms rebound

Bonds issued by financial companies jumped 25 percent to $14.28 billion, and the money raised was mainly used to support the real economy.

Sompo partners with Marsh to offer customisable insurance for commercial real estate owners

Policy enhancements can be negotiated to address critical risks for the commercial real estate industry.

DAC6 – Extension of Cyprus Reporting Deadlines

The first periodical reporting by the Cypriot Tax Authorities to other interested countries will take place on 30 April 2021.

Xceedance partners with BriteCore to support systems integration

P&C insurers urgently need to adopt new digital capabilities to improve services and increase efficiency, are making investments in cloud technologies and digital channels.

Cayman joins neighbours in pursuing a "Global Citizen Programme"

It is also in keeping with the new trend of working from home since the onset of the pandemic and would not displace jobs in the host country.

Bermuda’s Incorporated Segregated Accounts Act: Six Months on

This month, Apex’s Matthew Charleson and Graham MacDonald wrote for Thomson Reuters Regulatory Intelligence on the ISAC Act and its potential uses.

Artificial intelligence to nab tax evaders

Any “purported extension” of current list of SFTs will not impact the honest taxpayers as they are not required to file details of high value transactions in ITRs, an official said.

ILS new issuance spreads widen by up to 30% due to COVID-19: Swiss Re

That caused spreads on new issuances to follow the trend of the secondary market, Swiss Re explained.

BMA begins consultation process to strengthen enforcement measures

The BMA has also proposed changes to reinforce its internal procedures, ensuring there is more transparency when enforcement measures have been commenced.

Government of Bahamas to Continue with Protocols to Curb COVID-19 Spread

The Bahamas government says it will continue to implement protocols aimed at reducing the spread of the coronavirus (COVID-19) especially among the frontline health care workers. “Protocols will continue to be implemented to minimize patient and st

SMAs – a Phoenix from the Flames of Covid-19?

Fund finance options are available to SMAs as they would be to more traditional “funds”, and in the last few years there has been an increased appetite from banks and credit funds in the market to provide SMA financing.

Regulation, Risk & Compliance