Managers of Wealth Offshore

STM Group independent review recommends 32 improvements

The Report provides a number of recommendations in this respect including segregation for first line and second line of defense.

EU banks watchdog probes Malta agency over anti-money laundering at Pilatus bank

EBA Chair Andrea Enria said in a letter to the European Union’s executive European Commission that he has decided to open a formal “breach of union law” investigation in relation to FIAU

Former Head of IMF to Face Trial in Spain for Alleged Fraud in Bank IPO

The trial for the IPO of Bankia, which came into being with the merger of seven lenders including Caja Madrid, will be the second time Rato sits in the dock facing serious criminal charges.

EU Release Bermuda’s ‘Commitment Letter’

The list has subsequently changed, and the graph from their website below shows the evolution of the list.

A new investigation shows the scale of illicit financial flows out of West Africa

In the hope of becoming more attractive to investors, the 2004 treaty was primarily set up to avoid taxing multinationals twice in each country.

UK: Facts Do Not Cease To Exist Because They Are Ignored

We've seen numerous examples of this in recent years in relation to the allegations levelled at IFCs.

What expats don’t know about this tax requirement will cost them

It will take more than moving across an ocean to escape the long arm of the IRS. Americans who hold assets in foreign countries are required to report those accounts to the appropriate federal authorities — or else face penalties as high as $100,00

RBC Trade Union Alliance demands respect for workers’ rights in the Caribbean

The Trade Union Alliance invites RBC management to engage in an open and genuine dialogue with its workers

ICOs and good governance - Ogier

This difficulty in establishing the correct banking architecture for these businesses undermines the ability of operators to ensure the integrity of their financial governance and is proving a real obstacle to the growth of the sector.

STM Gibraltar review set to finish in ‘coming days’

In a statement on its website earlier today (1 June) STM said it was still working with Deloitte, which is carrying out the review, and the Gibraltar Financial Services Commission in order to finalise the ‘skilled person report’ which is simil

Privacy – it’s not all about money

On 1 May, a high-profile debate in the UK House of Commons passed a set of amendments to the Sanctions and Anti-Money Laundering Bill that brought the issue of beneficial owners of companies, and public registers, back into the spotlight.

Listing Bespoke Debt on the Cayman Islands Stock Exchange

The listing rules of most exchanges are designed to broadly facilitate the general array of debt listings possible

Bahamas 'Cannot Hold Back Tide' On Owner Registry

The deputy prime minister, though, argued: "We can't sit back and wait for someone else to take the first step.

BVI holds protest against UK’s public registry rule

BVI Premier Orlando Smith expressed dismay at the fact that the U.K. is forcing the BVI to implement a public registry even though his government has spent vast resources implementing numerous regulatory reforms over the last several years

JFSC and OIC issue joint statement on data law

The Data Protection Law 2018 will be regulated and enforced in Jersey by the Office of the Information Commissioner.

Acting Commissioner urges GDPR awareness

The protection of our data and ensuring businesses are using our information in a responsible manner is a huge issue that affects businesses large and small.

UK ‘could overrule Island financial secrecy’ policy

The UK intends to legislate for the Overseas Territories if they do not voluntarily introduce transparent registers by the deadline.

Cayman Islands bids to alter constitution after UK ‘overreaches’

This amendment will force British Overseas Territories to introduce public registers that disclose who owns the assets in companies registered in each jurisdiction.

Premier vows to challenge UK if ownership registry is mandated

"Cayman's best course of action is to challenge any decision of the UK Government by order in council to amend local legislation … which will render the issue to our courts here,” he said.

Malta: Brexit And Relocation

The uncertainty ushered in by this event is unprecedented and has seen many businesses scramble to re-evaluate their positioning within Great Britain and its ramifications.

Regulation, Risk & Compliance