Managers of Wealth Offshore

Jersey's New Charities Law

Some aspects of the Law will also touch upon foreign charities raising funds in Jersey.

Regularise encroachments in good time

A formal subdivision planning consent issued by the Planning Department is required as informal agreements or transfers intended for 21 years or more are void under the Development and Planning Act 1974.

AM Best revises PartnerRe ratings

The outlook of the FSR has been revised to positive from stable, while the outlook of the long-term ICR remains positive.

Bahamas regulators grapple with digital assets

"The Bahamas is well-positioned in that, it's not making hasty decisions to be first."

US firm penalised as pension mis-selling goes offshore

DeVere USA, which has no link to UK advisory firm Chase de Vere, at centre of concerns over pensions advice to British expats working overseas.

Don’t forget Malta's UBO deadline

Maltese-registered companies are running out of time to submit the necessary information about their ultimate beneficial owners without incurring a penalty.

Bermuda captives sector innovates, but must do more

Flaxbeard agreed that these are being used in increasingly innovative ways including to better manage some of the risks associated with M&A deals.

GECKO Governance launches compliance solution for ICOs with approval from Isle of Man

GECKO Crypto1 will address issues of accountability and transparency within the ICO market

Liberia signs convention on mutual tax administration

Liberia has signed the Convention on Mutual Administrative Assistance in Tax Matters, as amended by the Protocol amending the Convention on Mutual Administrative Assistance in Tax Matters at the Organization for Economic Cooperation and Development (OECD)

Barbados: A Spoon-Full of Sugar with Bitter Medicine

Among the measures which will go into effect from July 1, are: a repeal of the 10 per cent National Social Responsibility Levy (NSRL)

Digital Jersey signs cryptocurrency MoU

We can provide a permissive sandbox for innovative crypto businesses to thrive without moving away from the general high standards of regulation that apply in our jurisdiction.”

British Overseas Territories in London to fight public register

While the meetings are meant to focus on Brexit, the decision to impose public registers of beneficial ownership on overseas territories is set to be a major part of the agenda.

Abraaj pressured to restructure $1 billion debt

The petition filed by Auctus follows a separate court request last month in the Cayman Islands from an Abraaj investor

Carey Olsen advises Silverfleet Capital on sale of Ipes

The deal is expected to generate a 3.8-times money multiple and 30% internal-rate-of-return for Silverfleet Capital once completion, which is subject to regulatory approval, takes place.

Legal heavyweights back funds-industry bid for ministerial order on Bermuda and Guernsey

The department "is evaluating the submissions from industry on this issue and no decision has been made at this point regarding the addition of these two jurisdictions", he said.

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.

Regulation, Risk & Compliance