02/22/2018
HSBC’s Swiss private bank faces $1.5bn fine for alleged tax evasion
The bank has set aside $604m to settle the probes and said it is cooperating with authorities.
Regulation, Risk & Compliance
02/21/2018
Isle of Man to introduce pension freedoms
The Isle of Man's current rules mean a pension pot smaller than £50,000 after tax-free cash can be fully accessed.
02/19/2018
Compliance Matters: GDPR And Investment Funds
GDPR is the current office ‘crusade du jour’ in many a financial, legal or investment management firm here in Guernsey.
02/16/2018
ID Register signs alliance with KPMG
KPMG said the partnership would allow it to provide a complete solution for investors in private funds, including with fund subscription, FATCA/CRS and KYC.
02/14/2018
Structuring An ICO – Factors To Consider
A bill is expected to be considered by Parliament in the second quarter of 2018.
02/14/2018
Cayman Islands introduce country-by-country reporting for certain multinational enterprises
MNE groups with annual consolidated group revenue in the preceding financial year of US$850 million or more with a Cayman entity in the group are caught.
02/09/2018
OECD announces further developments in BEPS implementation
Canada's regime for international banking centres (IBCs) was determined to be "potentially but not actually harmful" by the FHTP in the 2004 Progress Report.
02/08/2018
Jersey regulator disappointed with suitability review outcome
A host of failings have been flagged up during the Jersey Financial Services Commission’s (JFSC) review of 10 locally-based firms and the suitability of the investments they recommend.
02/05/2018
Jersey regulator warns (again) on initial coin offerings
Most jurisdictions do not regulate ICOs.
02/05/2018
Cayman leads key UK lobby group
It also means Cayman will host the pre-Joint Ministerial Council meetings – which are typically held in late summer between the overseas territories leaders.
02/02/2018
Swiss regulator censures Gazprombank after Panama Papers
Bank banned from taking new private clients over failings on money laundering checks
02/02/2018
Swiss Private bank broke money-laundering rules in Brazilian cases: FINMA
FINMA has investigated more than a dozen Swiss banks in relation to the Petrobras and Odebrecht cases and launched four enforcement proceedings, one of which is pending
02/02/2018
Pilatus Bank supervision comes under scrutiny of EU banking watchdog
European Banking Authority looks into MFSA's actions as regulator
02/01/2018
‘Accidental Americans’ putting Asia’s wealth transfer at risk
Accidental Americans face ruin if their estates are not properly structured, a lawyer has warned.
01/31/2018
Bahamas 'Must Adapt' To Global Integration
The success of the European Union since the 1950s attests to the advantages of regional integration.
01/30/2018
Current trends shaping Cayman Islands’ landscape
Unless subject to an exemption, each company must take reasonable steps to identify any individual beneficial owner of the company and all relevant legal entities.
01/30/2018
Chasing the black money chimera from Panama to paradise?
Individuals and companies are prohibited from investing in countries identified as non-cooperative by the Financial Action Task Force, an inter-governmental body.
01/29/2018
JERSEY: Regulation of pensions advice in the pipeline
We really are the only regulatory authority that does not have the power to fine individuals and that is not sustainable
01/29/2018
Isle of Man cracks down on unlicenced activity
The Isle of Man Financial Services Authority is taking a “proactive initiative” to clamp down on financial services professionals conducting regulated activities without a licence.
01/29/2018
Govt. to Complete Sale of Grand Lucayan, Memories
Resorts This Year, Announces New Sunwing Deal