05/05/2020
Malta's regulator publishes list of unlicensed digital currency firms
The island is known for its pioneering approach to fintech
Regulation, Risk & Compliance
05/05/2020
France becomes latest country to ban companies registered in offshore tax havens
Of France’s €110 billion package, four billion has been reserved for struggling startups, while €20 billion is being kept for larger firms, such as Air France.
05/05/2020
BDO Guernsey acquires Cerberus
“We are excited to integrate our approaches and to broaden our advisory services to clients.”
05/05/2020
Guernsey regulator fines wealth company directors £60000
Following consideration of the investment advice in the client files, the Commission noted that CWM was advising on and promoting Structured Notes
05/05/2020
Economic Vision Must Go Beyond Restarting
It is important that these lessons are considered by policymakers and incorporated into the National Development Plan (NDP).
05/05/2020
The intermeddling offence in Jersey: revised guidelines issued
Unlike the UK, Jersey imposes criminal liability on those who intermeddle in relation to a deceased's 'movable estate' (i.e. personal or movable property). Article 23(1) of the Probate (Jersey) Law 1998 sets out the offence:
05/05/2020
The key role of compliance in business continuity
Compliance is central to our client’s success and working with service providers that can set up structures quickly, efficiently and within the limits of the local and global legislation and regulation is a key requirement.
05/05/2020
Cayman Government proposes framework to regulate crypto services
The Cayman Islands would be one of the few countries in the world to adopt such a cutting-edge framework that is in alignment with global regulatory standards.
05/04/2020
Curaçao Central Bank disapproves solidarity tax
It follows from this analysis that the solidarity tax, while maintaining part of the income of vulnerable and most affected groups in society, will have a pro-cyclical effect on the economy.
05/04/2020
Bermuda opens economic substance declaration portal
Bermuda enacted economic substance legislation requiring regulated entities to file an economic substance declaration form with the Registrar.
05/03/2020
Cayman Islands crypto regulations bill to promote fiscal transparency
New bill aims to bring crypto under the purview of Cayman Islands Monetary Authority
05/01/2020
A guide to lending and secured finance in Jersey 2020
The absence of significant European M&A activity has continued to depress the leveraged finance market, although the outlook for 2020 is stronger with considerable private equity dry powder available.
05/01/2020
BVI regulator comments on FATF statements regarding high (and higher) risk countries: compliance officers take note
The FATF is the global body that promotes measures for combating money laundering, terrorist financing, proliferation financing
05/01/2020
British Virgin Islands: FATCA and CRS registration and reporting deadlines extended due to COVID-19
BVI FIs are encouraged to complete their registrations and filings via the BVI Financial Account Reporting System (BVIFARS) as soon as practicable
04/30/2020
Jersey to take part in UN Smart Sustainability Programme
The Chief Minister has signed a commitment to support Digital Jersey joining the programme on behalf of the island
04/30/2020
Bermuda at “the end of the beginning” with shelter in place set to be lifted on May 2
People may not gather in groups of more than ten people, and retail businesses and restaurants will only be permitted to open between the hours of 7am and 9pm, with only curbside service, or home delivery.
04/29/2020
Bank closes Jersey branch after £475,000 fine
The company admitted the breaches and, in the judgment, the court said that if the regulations were not followed it would impact on the Island’s reputation as a finance centre.
04/29/2020
New businesses have applied since lockdown says GFSC
Applications for new businesses have been received by the financial services regulator – despite the pandemic.
04/29/2020
Tax Update: Singapore and Indonesia Sign Updated Double Tax Treaty
The new Article 13 is a noteworthy addition to the DTA.
04/28/2020
Extraterritorial Reach of the UK to International Trusts
This register is not publicly accessible but, under limited circumstances, may be inspected by any law enforcement authority in the UK and EU members states.