Managers of Wealth Offshore

RBC closes 3 branches temporarily

Effective Wednesday, some RBC Royal Bank branches in Trinidad and Tobago will close.

The Bahamas: Employer Obligations During COVID-19

Under the EA, employees who have been employed for at least six months are entitled to one week of paid sick leave and are required to produce to their employer a medical certificate

Govt. in talks with banks over COVID-19 assistance

The Prime Minister also noted that National Insurance Board (NIB) will be encouraged to engage hotel owners about the possibility of advancing NIB unemployment benefits on behalf of the Government.

Tax in the time of COVID-19

The goal is to ensure that households and businesses are able to keep their heads above water until the health crisis can be contained, so that the economy is ready to rebound once the worst of the pandemic has passed.

Acting selfishly has consequences right now – why ethical decision making is imperative in the coronavirus crisis

In fluid situations, these conditions are hard to meet.

Holding the Line on Ultimate Beneficial Ownership

To address the challenges many jurisdictions experience in trying to ensure ownership transparency, last October the FATF released a best practice paper offering guidance on measures countries should consider to facilitate access to beneficial ownership a

SRD II Comes into Effect in Ireland

They introduce new rules on investor engagement and investment strategy transparency for institutional investors and asset managers that invest on their behalf.

How The Bahamas Is Tackling Coronavirus

Residents can leave their home for essential travel, meaning doctor visits, grocery shopping, pharmacy visits or refueling, for example.

Cayman to be put on lockdown

All non-essential businesses will imminently be required to close, unless they can operate with staff working from home.

Malta sees 157% increase in suspicious transaction reports

The anti-money laundering unit also reported an unprecedented increase in the number of requests

Ireland Update: SFTR reporting update issued by ESMA

The reporting obligations for credit institutions, investment firms, CCPs, CSD and relevant third country entities will now all commence on 13 July 2020

Mutual Funds - Enhanced Information Required for Annual Returns

The 2020 Regulations also require information to be disclosed in relation to the number and net asset value holdings of the “top five” types of investors and nominee investors

Recognized but not Compromised; English Court recognizes Brazilian insolvency over dissolved company

This decision confirms the commitment of the courts to exercise their discretion in a manner to uphold the framework of cooperation in cross border insolvency.

Cayman Immigration and Employment Questions Arising Out of Covid-19

Notice pay is determined by reference to the contract of employment. Where no notice period is prescribed it is deemed to be the interval between pay days.

Cayman Set to Introduce New Virtual Asset Legislation

The Bill defines virtual asset services as providing one or more of the following services or operations for or on behalf of a natural or legal person

The growing popularity of Jersey funds

The stable political environment and very proactive regulatory and governing bodies make Jersey a very popular jurisdiction with ZEDRA’s clients

Gov’t preps to deal with ‘lean times’

Government is also considering an increase in borrowing, McLaughlin told the press.

Caribbean Resorts and Destinations Expand COVID-19 Restrictions

“As the global community grapples with the effects of the Covid-19 pandemic, the safety, and well-being of our staff, partners, guests and citizens of The Bahamas are our top priority,” the statement adds.

Bermuda: Economic Substance Industry Notice

As Bermuda responds to the effect of COVID-19, the Registrar acknowledges that business continuity is challenging and as such, where meetings or other similar compliance measures are not possible due to necessary travel or quarantine restrictions, this ma

A time for Caribbean unity

Subsequent to this meeting, there have been about one hundred Covid-19 cases in the Caribbean, with four deaths.

Regulation, Risk & Compliance