10/18/2018
Appleby Advises Shandong Gold Mining Co. on HKD 5.2 Billion Listing
As of March this year, the group controlled and operated 12 mines in China
Regulation, Risk & Compliance
10/18/2018
Bermuda strengthens regulatory regime for AML/ATF regulated financial institutions
Appleby has an experienced, multi-disciplinary regulatory team which includes expert compliance professionals, as well as a team of lawyers across our Corporate, Private Client & Trusts and Dispute Resolution practice groups.
10/18/2018
The Asset Management Review - Bermuda Update
The formation of companies and partnerships is subject to the approval of the Registrar of Companies
10/17/2018
BVI to take ‘Goldilocks’ approach for regulating crypto assets
Crypto assets have dominated investor and manager interest over the last couple of years as more awareness of the potential of blockchain technology builds.
10/17/2018
ECB moves to revoke license of Malta's Pilatus Bank: sources
The ECB’s supervisory board has already agreed to withdraw the bank’s license, one ECB official told Reuters, but the decision will be finalised only after some legal issues are resolved.
10/17/2018
BVI hires second attorney to stay off EU’s blacklist
In other words, proof that an offshore company is paying taxes in the BVI because it largely does its work and earns its profits in/from the BVI.
10/16/2018
Global Forum publishes compliance ratings on tax transparency for further seven jurisdictions
These reports assess jurisdictions against the updated standard which incorporates beneficial ownership information of all relevant legal entities and arrangements, in line with the definition used by the Financial Action Task Force Recommendations.
10/12/2018
The new ‘McMafia’ law will go some way to tackling corruption, but Brexit plans could make it even worse
You want money laundering? You got it.
10/12/2018
Basel AML Index reveals slow progress in combating money laundering
The findings tie into recent high-profile probes involving countries generally considered low-risk.
10/12/2018
EU mulls blacklisting its own Member States
Lawmakers and campaigners questioned whether countries like Luxembourg, Malta, Ireland or the Netherlands should be considered tax havens due to their tax rules.
10/11/2018
BVI to take ‘Goldilocks’ approach for regulating crypto assets
According to Cryptobriefing, over the first six months of 2018 the BVI saw USD78.5 billion of trading volume in crypto assets
10/10/2018
Gov't Pledges to Support Companies Affected by New Offshore Regulations
The institute also pointed out the bill is still waiting to be discussed and approved by the Legislative Assembly
10/09/2018
Cayman, UK resume crime-fighting cooperation
The agreement does not affect the threat that the British government may impose public beneficial ownership registers in the overseas territories through an order in council, if they have not been implemented by 2020.
10/08/2018
New Ordinance On Electronic Agent Use In Guernsey
The purpose of the Ordinance is to provide certainty regarding the use of electronic agents in contract formation, execution, performance and termination under Guernsey law.
10/04/2018
Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis
Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.
10/04/2018
GFSC announces two-year licence fee freeze
Those fees represent the Commission’s principal method of funding its operational costs including any capital expenditure.
10/02/2018
Bank fine for breach of probate rules underlines importance of following procedure
These cases are rare, but they do underline the importance of obtaining the necessary legal authorisation before dealing with the assets of a deceased person.
10/01/2018
HSBC to face calls to 'quit Malta' as MEPs threaten campaign against UK's biggest lender
Malta’s financial services authority, the MFSA, has been under pressure from Brussels in recent months after a European Banking Authority report found “general and systematic shortcomings” in how Malta applies money-laundering rules.
10/01/2018
BVI hires $400,000 lawyer to avoid EU’s blacklist
With only three months remaining, Cabinet decided to waive the tendering process that was required to contract Furness, local media outlet BVI News reports.
10/01/2018
Money laundering probe into Maldives president yet to start
The president has been dogged by graft allegations since he took office.