Managers of Wealth Offshore

Venezuelan congress approves $20 million for foreign litigation

Lawmakers from the First Justice opposition party objected to the measure on the grounds that it did not clearly identify what cases would be financed.

Everest launches professional liability programme for small law firms

Matt Miller, Embroker’s chief executive officer, said the partnership allows the brokerage “to streamline all aspects of the insurance buying process,” while helping clients manage their risk.

Cayman Islands to require “4(4)” funds to register with CIMA and obtain local audits

Once the Bill is passed and in force, there will be a six month transition period within which existing 4(4) funds will need to make any changes to their operation

Seychelles offshore blacklisted by France

The international community is today questioning the delay that is aggravating the loss of respect for Seychelles by the business community with interests in the islands.

Deutsche Bank payments to Saudi royal adviser probed

German prosecutors investigate two former employees for suspected bribery

Gibraltar regulator says local businesses will pay 12% Brexit levy

The levy will not apply to companies from these sectors that do not passport into the UK, the GFSC added.

Jersey could scrap 'only husbands talk tax' rule

Currently, married woman can only discuss her taxes with government if spouse says so

Will a regulatory shake-up see market quality improve?

Regulatory hurdles were less strict and while this arguably went against the spirit of the legislation, it enabled those counterparties to be remunerated on legacy terms.

More than £5 billion secured after crackdown on multinational companies diverting profits

The extra tax is due to reforms introduced in 2015 to tackle profit diversion.

New regulatory regime for closed ended funds in the British Virgin Islands

A private investment fund is defined in the Amendment as a company, partnership, unit trust or any other body that is incorporated, registered, formed or organised under the laws of the BVI

CySEC press release and policy statement on investment-based crowdfunding rules

In turn, the policy statement summarises the feedback received in response to the Consultation Paper and sets out CySEC’s final position on the subject matter.

Liechtenstein Regulators Approve Ethereum-Based Real Estate Fund

A fully regulated tokenized real estate fund has been approved by officials in Liechtenstein.

Gibraltar regulator overhauls management structure

The new and wider management team will continue with the GFSC's stakeholder engagement initiative both locally and internationally to ensure a positive climate for the benefit of Gibraltar's financial services industry.

European Commission seeks public consultation on an EU framework for cryptoassets

The European Commission (EC) published a consultation document in search of opinions on a regulatory framework for markets in cryptoassets.

Expanded regulatory oversight for Cayman Islands funds

A private fund is prohibited from accepting capital contributions from investors in respect of investment interests until is registered by CIMA.

Austrian Banks Elude Criminal Probe Despite New Findings

The lawyer was hired by Browder who suspected that his Hermitage Capital was misused to facilitate the theft of $230 million of public funds through fraudulent tax refunds.

Jersey announces Ministerial Decision on Brexit regulations

Senator Ian Gorst commented: “The Government of Jersey has been working since the announcement of the UK referendum on EU membership in 2016 to ensure Jersey is fully prepared for all Brexit-related scenarios.

The Void Filled: Constitutional Vacuum In Grandfathered Bearer Share Companies

The transitional provisions also contained provisions enabling the company to force the redemption of outstanding grandfathered bearer shares.

UK FCA becomes AML/CFT crypto supervisor

The development comes under the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs)

ZEDRA announces attractive regulatory updates by the Guernsey Financial Services Commission that will allow EBT Trustees to make payments to ex-employees in a more streamlined way.

Guernsey has always been a fantastic place to set up an EBT

Regulation, Risk & Compliance