09/24/2020
This is far from a one-way direction of travel and it is clear from the UK’s programme for reform of its own Companies House (published this month) that availability to the public is not a sufficient replacement for professional verification.
09/23/2020
Secret documents reveal potential dark side of prepaid debit cards
In 2014, for example, Bank of America characterized Choice Bank as “an issuer of prepaid cards for program managers with inherently high risk.”
09/23/2020
Russia's Cabinet Approves Maltese DTA Amendments
Malta and Luxembourg have already agreed to amend their pact with Russia and negotiations are said to be ongoing with the Netherlands.
09/23/2020
With money laundering red flags going up, football clubs may have to step up
A Europol report on money laundering recently identified football as a money laundering paradise for organised crime networks
09/23/2020
BMA cancels registration for Phoenix CRetro, company eyes move to Asia
The Bermuda Monetary Authority (BMA) has cancelled the insurance registration of Phoenix CRetro Reinsurance Company, a special purpose insurer (SPI), for breaches of the Insurance Act 1978 (Insurance Act).
09/22/2020
Trust and Corporate Services market is bouncing back from pandemic
Research shows the Trust and Corporate Services market is bouncing back from the COVID-19 pandemic
09/22/2020
How legislative change has impacted The Bahamas investment funds
CESRA demonstrates The Bahamas’ seriousness to continuing as an important and viable global international financial centre.
09/21/2020
HSBC exposed in $80m Hong Kong Ponzi scandal
The bank was forced to pay a record $1.9 billion in December 2012 to settle the allegations that it had knowingly allowed for the transactions to go ahead.
09/21/2020
The revelations underscore challenges for regulatory and financial institutions trying to stop the flow of dirty money despite billions of dollars of investments and penalties imposed on banks in the past decade.
09/21/2020
Five global banks appeared most often in the documents — HSBC Holdings Plc, JPMorgan Chase & Co, Deutsche Bank AG, Standard Chartered Plc and Bank of New York Mellon Corp, the ICIJ reported.
09/20/2020
Bahamas Chapter – Enforcement of Foreign Judgements (2021)
This team of litigators offered expert analysis of the key issues relating to the enforcement of foreign judgments in The Bahamas for the Getting The Deal Through series which highlights jurisdictions worldwide.
09/20/2020
Constitutional changes: UK withdraws Section 81 removal
Premier: 'I'm very disappointed'
09/20/2020
Cayman secures $330.4 million in emergency line of credit
The government is paying $1.96 million to establish the line of credit in place, regardless of whether it accesses it or not.
09/20/2020
Gibraltar Updates Distributed Ledger Framework to Align With FATF Crypto Regulations
Amendments to new token issuances prevent DLT providers from utilizing internally generated token reserves as part of its regulatory capital requirements.
09/18/2020
Jamaican Banks Easing Account Opening Restrictions
Due to the need to satisfy local and international regulations, local banks couldn’t facilitate these people who had a desire to join the formal system but lacked the full documentation.
09/18/2020
This guide therefore examines the key Cayman Islands aspects of the creation by a Company of security over its foreign assets under a foreign law.
09/18/2020
The Bahamas Central Bank to Launch Its Digital Currency, the Sand Dollar, Next Month
The Sand Dollar transfers will be made using a mobile-based wallet app on users' phones which will be much easier since more than 90% of the citizens use a mobile phone.
09/18/2020
Third Point Re will own a minority stake in the newly-formed company.
09/18/2020
Cayman Islands law allows a security document to be governed by foreign law and gives the parties the freedom to choose any law they consider appropriate to govern it.
09/17/2020
VP Bank selects AxiomSL for risk and regulatory reporting
Selecting AxiomSL will enhance the value of our investment in regulatory technology, optimize efficiency, and deliver business insights