10/14/2020
Cyprus hits pause on citizenship-by-investment programme
After the EU country came under fire for reportedly selling passports to criminals
Regulation, Risk & Compliance
10/14/2020
Government secures $US600 million bond financing
The MOF said the new transaction benefited from the momentum created during a successful virtual investor roadshow that The Bahamas conducted on October 5 and 6, 2020, at which time the Government met with over 45 global investors.
10/14/2020
Switzerland improves anti-bribery record
Switzerland is one of the few countries to actively enforce efforts to combat bribery of foreign officials, according to the latest international comparison by Transparency International. But the NGO warns that the Alpine country still lacks strong whistl
10/13/2020
KPMG was auditor to Wirecard’s mystery Mauritian counterparty
Accountancy firm had criticised EY for the way it handled fraud allegations
10/13/2020
Decade-long Saad litigation settled between AHAB and Grant Thornton Defendants
The case continues against the other Defendants in the case.
10/13/2020
Use of Jersey and Guernsey Structures by US Managers Targeting European Capital
In the current politically driven regulatory climate, managers/promoters in the major US fund centres are increasingly looking for alternative ways to structure investment vehicles suitable for and acceptable to their European domiciled investor base.
10/13/2020
Cyprus officials implicated in plan to sell passport to criminals
Al Jazeera’s investigation reveals how senior Cypriot officials discussed ways to provide citizenship to a convicted criminal.
10/13/2020
Governance Guernsey: Creating a sustainable future
The importance of organisational purpose has been thrown into sharp relief by the pandemic, with the general public keeping a watchful eye on an organisation’s social and environmental impact.
10/13/2020
Consultation on proposal to increase banking fees
The JFSC’s enhanced supervision activities over the last two years in respect of banks have required additional supervisory effort and continue to bear higher costs.
10/13/2020
Corporate Transparency and Register Reform
UK Corporate Entities - UK Government publishes Corporate Transparency and Register Reform
10/12/2020
British Virgin Islands to introduce public register of company owners
The territory’s secrecy rules have long attracted criminals and secretive companies created there have featured in several ICIJ investigations on offshore finance.
10/12/2020
BMA registers eight new insurance entities in September
The Bermuda Monetary Authority registered eight new insurance entities in September.
10/12/2020
The BMA’s Jeremy Cox to be awarded a CBE
Jeremy Cox, the executive chair of the Bermuda Monetary Authority (BMA) is being awarded a Commander of the Order of the British Empire (CBE) as part of the 2020 Queen’s Birthday Honours.
10/12/2020
OECD drafts principles for $100bn global corporate tax revolution
Technical blueprint would upend taxation of US tech groups but still needs political agreement
10/09/2020
Changes to Jersey’s Social Security pension age and approved Jersey pension schemes
Update prepared by Ed Devenport (Partner, Jersey) and Carly McIver (Senior Associate, Jersey)
10/09/2020
Exchange of information with 86 countries on around 3,1 million financial accounts
These countries have claimed technical difficulties due to the COVID-19 crisis.
10/09/2020
Guernsey fintech business The ID Register spins out of Apex Group
Each investor controls their own information in a profile, which, once approved, they can connect to their investments and service providers like a “passport”.
10/09/2020
European Lawmakers Are Looking For New Ways To Fight Money Laundering In The Wake Of The FinCEN Files Investigation
“The FinCEN Files illustrate the vast scale of the problem,” Šuica said.
10/08/2020
No Swearing Please – Ireland Updates its Rules on Written Evidence
The Act is an omnibus one and addresses various matters, however this advisory focuses on the introduction of statements of truth into Irish law for the first time.
10/08/2020
Commonwealth Finance Ministers call for extended financial support for vulnerable nations
It also appeals to multilateral development banks to be more flexible in their treatment of the impact of COVID-19 so that countries have easier access to financing.