Managers of Wealth Offshore

Ready or Not, New UK Anti-Money Laundering Regulations Hit UK Art Sector from 10 January 2020

The newRegulations now take effect from 10 January 2020 and have major consequences for art market practices.

Black money probe: Tax haven trusts come under scanner for Swiss bank accounts

Several individuals who are suspected to have moved abroad after evading taxes back in India are being probed and their banking details are in the process of being shared by the Swiss authorities with their Indian counterparts

Central Bank of Ireland resists bid to up workload in EU money laundering fight

Bank objects to being made to gather the information the EU requires to combat illicit deals

Financial group: ‘Hundreds of millions of dollars missing’ from Cayman fund

While financial filings in the Philippines had put the sale price at about US$1 billion, the US discovery application said the widely reported exit amount for The Port Fund’s sale of the asset was only half of that amount.

Global Journalist: 'Panama Papers' Journalist Describes Sprawling Probe

Both the 'Panama Papers' and 'Paradise Papers' investigations of offshore tax havens and money laundering involved a global network of dozens of journalists working in six continents.

NIA Signs Loan Agreement with Taiwan to Support Small Business Activity on Nevis

Based on the cordial relations between our two countries we are very pleased to make available this loan, and I therefore want to encourage people in Nevis to make the most of it.

Mirror Reflection of Barbados

Tourist arrival figures for Barbados continue to trend upwards and should surpass last year’s figures, which really is remarkable considering the many challenges facing the industry.

This year Maldives GDP will reach to 7.5%V

It is anticipated by MMA that there will be an increase in the development of the tourism sector this year, and new infrastructure developments will lead to development in the construction industry.

Year in review: Cayman addresses anti-money laundering shortcomings

The Financial Reporting Authority, meanwhile, received more funding to address a lack of resources needed to deal with a growing backlog of suspicious activity reports.

MGA Serious On Money Laundering, Confirms Canceling 18 Operator Licenses

The gambling regulator has also said that it has conducted 597 criminal probity screening tests for both land-based and remote gaming activities.

IRELAND UPDATE: European Commission consults on an EU framework for markets in crypto-assets

The Commission and European Council have jointly declared that they are “are committed to put in place the framework that will harness the potential opportunities that some crypto-assets may offer”.

Belize National Assembly considers “black list” tax legislation

Wіth thе lеgіѕlаtіоn раѕѕеd, thе ѕhоrtfаllѕ аrе wіреd оut аnd thе Е.U. wіll rесоgnіzе Веlіzе аѕ а соореrаtіvе јurіѕdісtіоn.

Panama Papers supply 18.6 million euros

Reported in Belgium Knack, De Tijd and Le Soirthat at minimum 732 names of Belgian residents and residents come in the information breach of 11.5 million papers.

Jersey Finance Launches Family Office Roundtable Event Series

Last month, Jersey Finance hosted the first in a series of roundtable events focussed on family offices.

Costa Rica: All foreign entities must comply with the filing before the Registry of Ultimate Beneficial Owners

Should the obligated entities fail to comply with the filing by January 31, 2020, they will be subject to penalties and fines that may cause a negative impact on any and all interests born in Costa Rica.

Cyprus: New Offshore Substance Rules. Time To Redomicile To Cyprus?

The new BVI legislation that comes into force in January 2020 reflects the EU's new guidelines which have been implemented as a result of OECD guidance and concerns from the EU Code of Conduct Group.

Gibraltar sets out sweeping new financial reforms for 2020

The LRP Regulations do not change the substance of the current legislation they derive from and they remain similar.

Ireland: A Guide To Mifid In Ireland

The Mifid II Regulations implement Mifid II directly into Irish law and do not introduce any gold-plated requirements.

Ogier's Guernsey teams demonstrate strength in complex, cross-border transactions through 2019

Guernsey teams have continued to demonstrate their strength in complex, cross-border and high-value transactions throughout 2019.

ESMA follow-up report on fees charged by CRAs and TRs

The Treasury, in exercise of the powers conferred by section

Regulation, Risk & Compliance