Managers of Wealth Offshore

Cayman Islands: New Enforcement Powers For CIMA

CIMA will be able to impose fines for breaches of the Cayman Islands money laundering regulations

Another exchange tie-up: Bermuda and Channel Islands follow the lead of London and Frankfurt

The exchanges will look into ways of working together, including cross-fertilisation of regulatory best practice.

Malaysia: Labuan IBFC – Building Opportunity In Asia Pacific

As individual wealth grows in the region, increasing consumer demand from a larger middle-income population has inspired a raft of more sophisticated and comprehensive wealth management services.

Governor To ‘Bridge Gap’ Between Banks, Web Shops

Their previously unlawful status, and cash-intensive business nature, underpin the commercial banking industry’s concerns.

Transparency International calls on secrecy haven supervisors to take real action against corruption

The Panama Papers revealed how secretly owned companies in offshore havens are used for financial crime, corruption and tax evasion.

Experts say fiscal policy is on right track

The Bermuda Government is saddled with net debt expected to reach nearly $2.4 billion by the end of the fiscal year in March 2017

AxiomSL Introduces New Taxonomy for Cayman Islands Quarterly Prudential Return Reporting Requirements

It is designed to interface with the new REEFS portal, while also retaining users’ traditional Excel view.

Pubs’ plight highlights growing influence of offshore insurers

Many must now be regretting this decision.

Innovation Islands - how the Channel Islands are innovating in the funds arena

But is there a tension in a regulated industry between innovation on the one hand, and necessary checks and balances on the other?

Revenue Announces New Clampdown On Off Shore Tax Evasion

Revenue has warned that time is running out for people hiding money overseas

Cayman Islands: Financial Services Minister Speaks With US Officials About Bank De-Risking

The Financial Action Task Force and the World Bank are grappling with the domino economic effects of de-risking.

New Enforcement Powers for CIMA

If passed in its current form the Monetary Authority (Amendment) Bill, 2016 (the Bill) will allow CIMA to impose fines for breaches of regulatory laws by licensed or regulated individuals or entities.

Plans for States-owned retail bank in Guernsey rejected

The move has been welcomed by the group Finance for Guernsey, which believes that the private sector is more suited to deliver the idea.

British Virgin Islands Finds It Tough to Remove ‘Panama Papers’ Stain

Mossack Fonseca unit fined $440,000 by islands’ regulator

Central Bank warning for Trinidad and Tobago in order to avoid de-risking

De-riskingis the threat of the loss of correspondent banking relationships, particularly for small developing countries”

Brooks Macdonald signs deal with Dubai-based Abacus

The quality, experience and fee-based model at Abacus made them a natural fit for our first international alliance and we are confident that our investment solutions will help to meet the needs of their clients.

Guernsey Funds Business Continues To Thrive, Says New Research

Guernsey had a very busy year in terms of mergers and acquisitions of service providers, highlighting the ever-changing fund landscape and the constant dynamism of the market

PayPal Broadens its Services in Mauritius

The two parties involved are positive concerning the future of their partnership.

Jersey: Dormant Accounts Law

Currently, where a Jersey bank has lost contact with a customer it must maintain the customer's deposit account.

Billions could drain from Cayman entities as Trump is elected

The goal is to halt the practice of U.S. multinationals holding hundreds of billions of dollars in offshore accounts, many of them in the Cayman Islands, to reduce their U.S. tax liability.

Regulation, Risk & Compliance