Managers of Wealth Offshore

Lawmakers looking for agreement on Legal Services Bill

The bill is going to proceed to the committee stage this week when various amendments proposed by both government and opposition will have to be addressed.

Rich Kenyans race to buy Caribbean citizenship

Globally, the top five countries in terms of CBI enquiries were all emerging markets: India, South Africa, Bangladesh, Pakistan, and Nigeria.

Safe Harbour: Protecting and preserving wealth using Cayman Islands’ trusts and foundation companies

Every settlor’s or founder’s circumstances are different.

Brexit: CSSF on the end of the transitional period

This will especially have an impact on all UK managers managing, on a cross-border basis, UCITS and AIFs established in Luxembourg, as well as passporting rights for cross-border marketing in Luxembourg.

Singapore Fund Services: The rise of the VCC

Clients don’t have to worry about hiring additional staff within a short period of time to fill a knowledge gap in a fast-changing regulatory environment.’ says Kelvin in conclusion.

Guernsey moves to enhance Private Investment Fund regime with proposed new rules

The Guernsey Financial Services Commission (“the GFSC”) has this week published a consultation paper containing proposals which would allow different investor categories to take advantage of an appropriately regulated fund structure.

The Mauritius Financial Services (Exemption from Approval of Controllers and Beneficial Owners) (Revocation) Rules 2020

Pursuant to changes brought to the Act by the Anti-Money Laundering and Combatting the Financing of Terrorism

Jersey protects its healthcare cyber security

ITC Secure launches 'Healthcare Dome' with Government of Jersey to protect the UK healthcare secto

Guernsey Private Investment Fund regime enhanced by proposed changes

The revisions will create the most comprehensive and flexible suite of options of any private fund regime.

Netherlands disagrees with Russia’s proposal to amend tax treaty

Press officer of the Dutch Finance Ministry Remco Raus said that generally, the Netherlands is prepared to review the tax treaty and is constructive during the process

Swiss banks ordered to disclose account details of FATCA non-compliers

Most banks agreed to join this non-prosecution programme, but some did not, or were disqualified from doing so because they were already under criminal investigation.

Commission proposes deregulation of non-Guernsey Fund Scheme Rules

Approval must be sought in respect of each individual relevant Scheme.

Fraud and Financial Crime Reduction in Banking with AI

This consolidated, wide range of data will constantly be at peril from fraudsters and cybercriminals.

CySEC’s enhancement of procedures to protect client funds held by CIFs

Until now there had been some ambiguity as to the processes to be adopted by CIFs handling client funds.

Swiss-UK deal to grant consultants privileged mutual access

Under the terms of the deal, British service providers will have access to the Swiss workplace for up to 90 days at a time, the government said on Friday.

The Receivers are coming

Parties often go to great lengths to evade the consequences of a judgment or order including pursuing robust legal challenges in court.

Malta luxury cards provider fined €373,000 for money laundering breaches

Ultra-rich spenders’ credit card company that recruited former Labour minister Chris Cardona in litany of money laundering breaches

Charges expected after Pilatus money-laundering probe

The bank’s operations were shut down in 2018

AG continues to make the case for The Bahamas’ removal from EU blacklist

The Bahamas’ inclusion on the EU’s blacklist was based upon its presence on the Financial Action Task Force’s (FATF) monitoring list.

Two Steps Forward, One Step Back: The Limits of New Standards on Assessing WMD Financing Risk

At its recently concluded October plenary, the FATF adopted language into its standards that now requires countries – as well as private sector actors – to understand and assess their PF risk, and tailor their counter efforts accordingly.

Regulation, Risk & Compliance