11/09/2020
Brexit Update: Countdown to the End of the Transition Period
In the midst of COVID-19, it has been tempting to push Brexit to the back of our minds as people and businesses alike struggle to survive this difficult period.
11/08/2020
The DITC Portal will open in early November for CRS and FATCA purposes with Economic Substance Reporting and CbCR to follow.
11/08/2020
BML will not take into account the months from April through June as "many businesses were negatively impacted due to the lockdown period".
11/06/2020
“It shows that we are embracing the digital assets space, the Blockchain and crypto space and also provides us an avenue to new industries, which we really need. It’s going to be a big win for us.”
11/06/2020
A key intention in the introduction of the Fiduciary Rules is to consolidate and strengthen the existing regulatory framework, to replace existing GFSC Codes of Practice and bring the regime into compliance with the Group of International Finance Centre S
11/05/2020
Barbados governor hits back at AML ‘blacklisting’
Cleviston Haynes told journalists the central bank was “concerned” about the “pernicious” impact of the blacklisting by the EU
11/05/2020
New rules expected to boost virtual assets sector in Cayman Islands
The new rules are expected to boost business in the sector by allowing the supervision of businesses providing services in the arena and help Cayman meet the latest recommendations from the Financial Action Task Force.
11/05/2020
The Convention will become effective on 1 January 2021 for over 600 treaties concluded among the 56 jurisdictions, with an additional 1200 treaties to become effectively modified once the MLI will have been ratified by all Signatories.
11/04/2020
The parties either appear personally before the Royal Court or appoint an attorney or authorised representative to appear on behalf of themselves or their company.
11/04/2020
We understand the importance of providing companies registered in Jersey with some consistency in relation to fees, so that they can plan for the future.
11/04/2020
This is not the first time an extension has been granted.
11/04/2020
This year, the Cayman Islands Monetary Authority, the jurisdiction’s financial regulator, became the supervisor of registered persons – the previously unregulated excluded persons – for anti-money laundering purposes.
11/03/2020
The Cayman Islands Administrative Fines Regime & Investment Funds
This update provides a non-exhaustive overview of some of the most pertinent AFR fines applicable to Cayman Islands regulated investment funds and their operators.
11/03/2020
Statutory Demands In Guernsey
A statutory demand is a formal written demand made by a creditor of a debtor for satisfaction of an outstanding debt.
11/03/2020
Restricted Purpose Companies – The SPV in its purest form
Of all the offshore transactions I’ve worked on, only three have featured restricted purpose companies, and I feel rather lucky about that, as I know many even more experienced practitioners who haven’t seen any at all.
11/03/2020
Cayman Islands introduce regulations for virtual asset service providers
The notorious tax haven appears to be cleaning up its act on AML and counter terrorist financing ahead of an FATF review.
11/03/2020
One important consequence coming out of the COVID-19 pandemic was the (sudden) obligation on businesses to embrace remote working for employees.
11/03/2020
FSC releases consultation papers on Robotics and AI as well as Crowdfunding
The consultation paper then goes on to elaborate the substance requirements as well as the risk and governance framework applicable to such an entity.
11/03/2020
The Cayman Islands has been tasked with implementing the Recommended Actions arising from an assessment of the jurisdiction by the CFATF (Caribbean Financial Action Task Force), the regional body of the FATF.
11/02/2020
Lombard Bank fined €340,000 by FIAU over money laundering shortcomings
FIAU finds low level of risk assessment and enhanced due diligence for PEP and voluminous transactions at Lombard Bank