Managers of Wealth Offshore

June deadline for Cayman EU funds passport

This timeframe was confirmed by Garth Ebanks, Deputy Head of CIMA’s Investments and Securities Division, at the Cayman Alternative Investment Summit (CAIS) earlier this month

Malaysia: The 1MDB money trail

Probes into suspicious transactions at the Malaysian fund have threatened to expose loopholes in global finance

Liquidation Regime Bar To $17m Asset Recovery

Although the Companies Act Winding-Up Amendment Act 2011 was passed into law, the Liquidation Rules Committee has yet to designate which nations are to be listed as ‘relevant foreign countries’ and qualify for assistance from the Bahamian cour

GFSC publishes guide to risk-based supervision

Risk-based supervision encourages supervisors to concentrate on the issues which really count

Heritage Financial Services hosts evening of EU discussion with clients

Hannan described an ongoing shift of financial power from the Atlantic to the Pacific in contrast to a steady decline in the EU’s contribution to global economic growth.

Heritage Fund Services obtains ISAE 3402 accreditation

The conformed procedures mark the end of a project to ensure a common platform internationally.

ESMA’s advice on the application of the passport to non-EU alternative investment fund managers

It might soon be possible for alternative investment fund managers (AIFMs) in the United States of America, Hong Kong, Singapore, Japan, Canada, the Isle of Man, the Cayman Islands, Bermuda or Australia (the Countries), to “market” non-EU alte

Major named Employee of The Year at Bahamas Embassy Consular Annex

Describing Mr. Major’s output of work as exemplary

Maldives Central Bank To Authorise Financial Institutions In Economic Zone

Maldives central bank has decided to authorise all financial businesses san offshore banks in Special Economic Zones

Maldives central bank to authorise financial institutions in economic zone

The Act adds that any financial businesses or offshore services unauthorised by the central bank cannot be operated in SEZ.

Channel Islands join the Single Euro Payments Area

The islands have worked in partnership to progress this matter and have each put in place the relevant legislation to meet SEPA requirements.

Agreement signed for $200 million luxury resort in the Bahamas

The owner of the project, Dona Bertarelli, is a member of a prominent Swiss family.

Serbia: Belgrade Mayor Connected to Another Offshore Company

This is the fourth company in the British Virgin Islands that KRIK journalists found is connected to Mali.

Central Bank Governor Says Belize Is Compliant with Money Laundering Regulations

Central Bank Governor, Glenford Ysaguiire spoke of the country’s position on te money laundering issue.

No political will to get to bottom of 1MDB crisis

More specifically, it was related to the US$4 billion RM16.6 billion suspected misappropriations by 1MDB and possible violations of Swiss law.

Cayman law could increase the number of governance committees

The change in Cayman law also has implications for funds as they work through the requirements of the Volcker Rule.

Banking innovation and research high on Jersey finance industry agenda in 2016

A new piece of work to clarify the finance industry’s contribution to the local Jersey economy will be completed too.

Increased fund governance and regulation keeps Cayman at the forefront

"At Conifer we've seen growth over the last 12 months in both those segments".

‘Fiduciary creep’ could lead to independent governance

Colin MacKay (pictured) is Group Director, Elian Fund Services. In his view, this evolution is, in part, why attempts to codify the duties and responsibilities of those charged with oversight could be counterproductive.

IRS Still Hunts Offshore Accounts As More Foreign Banks Sign Deals With U.S.

The IRS updated its list of foreign banks where accounts trigger a 50% rather than 27.5% penalty in the IRS’s long-running Offshore Voluntary Disclosure Program.

Regulation, Risk & Compliance