11/28/2019
Yorgen Fenech’s 61 connected companies under scrutiny
Financial Intelligence Analysis Unit launches hunt for money laundering
Regulation, Risk & Compliance
11/28/2019
Guernsey ‘stronger’ as updated economic substance guidance is published
Guernsey was placed on the whitelist at the earliest opportunity in the process in March 2019.
11/28/2019
Updated economic substance requirements for Guernsey fund managers
Fund managers are in scope of the law where they have income in relation to their fund management activities.
11/28/2019
UPDATE 1-Swiss revamp antiquated money laundering, terrorism finance report system
Switzerland, the world’s largest repository for offshore wealth
11/28/2019
MS Amlin restructures business to strengthen international collaboration
James Illingworth will also step down as chief underwriting officer, but retains his seat as a non-executive director of the group in the near term.
11/27/2019
BVI Securities And Investment Business (Amendment) Bill
The FSC will have the power to issue regulations to supplement the legislation (Regulations).
11/27/2019
Bermuda to be ‘less affected’ by Brexit
“Bermuda is less affected than some other overseas territories as we do not receive aid from the European Union."
11/27/2019
BVI to embrace digitalisation to further innovate funds industry
Weak links, whether large or small can have significant effect and impact.
11/27/2019
Cayman National Bank IOM confirms customer account details stolen in hack
The bank warned stolen details could be used for "fraudulent purposes" and said it would contact customers affected.
11/27/2019
Vattenfall chief calls for 'EU-level offshore vision'
Industry facing “unprecedented pressure” Gunnar Groebler tells Offshore2019 delegates
11/27/2019
11 POGO branches shut due to tax violations, BIR says
The government has intensified its crackdown on illegitimate operations following a plea from China to "punish" firms that illegally recruit its nationals.
11/26/2019
Why Guernsey and Jersey should be in your UK/European tool kit
The mature and stable regimes of the Channel Islands offer Asia-based managers an efficient hub to manage capital flows across the world, write Carey Olsen's Andrew Tually and Susan McKinstray.
11/26/2019
Switzerland pushes for more financial transparency
The Swiss parliament is likely to examine the proposal for the first time in the 2020 spring session.
11/26/2019
Bermuda Updates Outsourcing Guidance
This guidance will come into force on 1 May 2020 and replaces previous guidance on outsourcing issued in 2007.
11/26/2019
Switzerland pushes for more financial transparency
The Swiss parliament is likely to examine the proposal for the first time in the 2020 spring session.
11/25/2019
Summary of key points of additional implementation guidance on CbC reporting
The guidance clarifies that, consistent with the definition of revenue, profit (loss) before income tax (PBT) excludes payments received from other constituent entities that are treated as dividends in the payer’s tax jurisdiction.
11/25/2019
Luxembourg Updates: CSS AML/CFT Investment Market Entry Forms
Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier, issued a press release regarding the availability of two AML/CFT investment market entry forms.
11/25/2019
Ogier Latin American team bring their expertise to CAIS Brazil
They will be taking part in panel discussions which also feature presentations from investor, hedge fund manager and philanthropist Mark Yusko and Jude Scott, CEO of Cayman Finance.
11/25/2019
Economic substance requirements for Jersey companies
EU Finance Ministers signalled their approval of the Substance Law by whitelisting Jersey on 12 March 2019.
11/25/2019
Policy & Resources Committee publishes detailed Economic Substance guidance
The additional detail published today on how these rules work in practice builds on the guidance issued when the legislation was made.