Managers of Wealth Offshore

Channel Islands at ‘turning point’ for data protection

We are at a turning point for data protection with it taking on a truly global significance.

Shell companies are bad for Hong Kong’s market reputation, SFC chairman says

SFC Chairman Carlson Tong says Hong Kong is well served by a network of friendships underpinning the regulatory institutions.

Isle of Man regulator steps up anti-money laundering crackdown

The Isle of Man financial regulator is taking action against anti-money laundering and terrorist financing with new guidance rules aimed at “avoiding a tick-box approach” to assessing the risk of customer involvement in such activities.

CRS remains the hot topic for Chinese private client sector

“Guernsey has always been at the forefront of adopting and implementing international legislation, and CRS is no exception,” said Miss Clouston.

Latvian bank fined heavily over laundering scheme in France

It was part of its business strategy in France

ILS will continue to drive risk financing efficiency

The event, hosted by Guernsey Finance – the promotional agency for the island’s finance industry internationally – was attended by 90 delegates from across the insurance, asset management and adviser communities.

Rietumu Banka hit with heavy fine over laundering scheme in France

The defendants organized large-scale tax evasion through offshore companies located in tax havens.

Collapsed Premier Group loses out on £39m debt payment

Joint administrators Duff & Phelps are seeking a 12 month extension for them to conclude a claim by non-preferential creditors.

Indonesia, Switzerland to Exchange Financial Data in 2019

Indonesia managed to make more than 900,000 taxpayers declare their previously unreported assets during he government's nine-month tax amnesty program.

Jersey Chief Minister welcomes enhanced beneficial ownership information exchange

The main objective of the Exchange of Notes has been to enhance the timely sharing of information between Jersey and the UK

New reporting rules to increase burden on thousands of trusts

Advisers warn trustees will need to give HMRC details of assets

Abolition Of Reverse Discrimination Korean Government to Take Stern Action on Global IT Giants

The targets of the bill include global IT giants as well as their South Korean counterparts like Naver.

Accountants 'Grapple' With Whistleblower Obligations

These requirements have serious implications for how some of your businesses will survive.

Secretive owners of Scottish 'tax haven' firms to be revealed

It should mean that the shadowy owners of Scottish shell companies may finally be exposed.

Cayman Islands: AEOI Portal Update

The AEOI Portal is now open and available for CRS Reporting.

Bermuda: CRS regulations, guidance notes issued and portal open - Deloitte

The Ministry of Finance signed the OECD’s multilateral competent authority agreement on 29 October 2014 to become a member of the “early adopters group” for the CRS, meaning that the group will begin exchanging CRS information with partn

Bermuda under EU blacklist threat, claims Richards

Bermudians should regard this Code of Conduct Group as the ‘EU Blacklist Group

Edmond de Rothschild fined for alleged involvement in 1MDB scandal

The affair, however, is mentioned in the annual report published in June.

Regulators Tighten Up Rules For QROPS Advisors

HMRC has scrutnised QROPS pensions to make sure they are compliant with UK rules and are not pension liberation schemes.

Turks and Caicos working to introduce biometric surveillance legislation

The law will also determine the legality of using the technology in the financial sector.

Regulation, Risk & Compliance