Managers of Wealth Offshore

The Cayman Islands has been added to the EU Blacklist. What Now?

EU Member States have been encouraged to apply additional administrative measures regarding structures or transactions with jurisdictions on the EU blacklist.

Ag Hails ‘A New Day’ On Financial Regulation

Mr Bethel said the Government’s attention, as well as that of financial services regulators and industry partners, will now turn to ensuring everything necessary is in place to produce a positive assessment by the visiting FATF team.

UBO registers in the Netherlands and Luxembourg: an update

Now that the UBO register is live in Luxembourg, it has allowed the general public and other interested parties like bankers, lawyers and notaries to see how it works in practice.

World Bank Grapples With Study Linking Foreign Aid to Corruption

The article was then published hours later, by the World Bank, he explained, also confirming this through screenshots he shared with OCCRP.

Legislative Amendments to the Bermuda National Pension Scheme

The Amendment Act came into force on 30 December 2019, with some amendments effective immediately, and others coming into force on 2 January 2020 and 2 March 2020.

Guernsey Employers: Brexit-Proofing your Workforce in a Shifting Immigration Landscape

These actions indicate a proactive and supportive approach on the part of Guernsey's government to business needs, which is welcomed.

Cayman Islands: Courting the super-rich to create jobs

He added: “The development of a family office product is an expansion of wealth management sectors in Bermuda, thus demonstrating Bermuda’s commitment to these sectors and to the Government’s diversification mandate.

Prime Minister takes aim at US, UK financial regulations

Prime Minister Hon. Chastanet highlighted how crucial it was that CARICOM continues to lobby to have these issues addressed.

Cayman Contacts EU to Begin the Delisting Process

He noted that since 2018, Cayman has adopted more than 15 legislative changes in line with the EU’s criteria.

EU blacklist: Reputational pressure to achieve October removal

Some limited partners may also have increased concern “over the audit risk and risk of increased tax leakage if there are Cayman blockers or other Cayman corporate vehicles in fund structures”.

Privy Council Confirms Narrow Scope Of Liquidator's Rectification Power In The Cayman Islands

The Net Investment Method is a concept imported from United States law and applied in that jurisdiction where the liquidating entity was implicated in the fraud.

Monetary Authority: Moving Forward Together

Over the past 50 years, the BMA has met the changing needs of the financial services sector on a local and global scale.

St. Kitts and Nevis Implements Reforms to Comply with EU Good Governance Principles

The Council’s code of conduct group on business taxation monitors that jurisdictions enact the necessary reforms by the agreed deadlines.

Building an Efficient and Effective Risk Framework

Directors agree a risk policy and risk appetite statement, which chimes with their strategy and business plan, ensuring this is communicated with all relevant employees.

Guernsey fund and directors hit with more fines

Following a second investigation into Louvre by the Bailiwick’s financial watchdog

Malta: Banking In Malta

Banks should be able to understand the general principles of tax planning and international tax structuring in order for them to perform their services in an efficient and effective manner.

EU adds Seychelles, Cayman Islands, Panama to tax haven blacklist, spares Turkey

Those on the blacklist face reputational damages, higher scrutiny in their financial transactions and risk losing EU funds.

Authorities in Bahamas and Colombia sign supervision agreement

The two organisations aim to develop joint supervisory methods

GFSC signs MoUs with two financial services regulators

The MoU with the Croatian Financial Services Supervisory Agency has been signed in the spirit of mutual cooperation and information exchange

BVI Joins EU Whitelist

On 18 February 2020, the Economic and Financial Affairs Council announced that the British Virgin Islands has moved to the ‘whitelist’, indicating that the BVI is now in line with tax governance and transparency standards prescribed by the EU.

Regulation, Risk & Compliance