04/26/2018
New Zealand rated 'compliant' in OECD tax transparency review
New Zealand is due to receive the first batch from relevant jurisdictions in September this year.
Regulation, Risk & Compliance
04/26/2018
British MPs called for disclosing Russians with money in offshores
A group of British parliamentarians demanded the adoption of a bill that would force to disclose the names of businessmen that keep money in the British Virgin Islands and the Cayman Islands, The Times imparts. Up to now, these offshore companies have b
04/25/2018
Cayman regulator issues ICO statement focused on investor protection
Ogier's Digital, Blockchain and Fintech group expects CIMA to release guidance on anti-money laundering concerns related to virtual currencies in the near future and will provide further updates accordingly.
04/25/2018
Guernsey leads with world first green investment fund product
It will be open to all types of new and existing funds, authorised, registered, Guernsey Private Investment Funds, open-ended and closed-ended, with different levels of certification available.
04/25/2018
CIMA cautions investors over virtual currencies
As a result, investors can lose some or all of the money they invest, CIMA noted.
04/24/2018
Comparing GDPR and PIPA – is there a difference?
The latest addition to the data protection legislative canon is the European Union’s (EU) General Data Protection Regulation (GDPR) which is due to come into effect from 25 May 2018.
04/24/2018
Mourant Ozannes achieves Privy Council success for Investec Trust (Guernsey)
The Privy Council also decided an important point of public international law and dismissed a number of other appeals.
04/23/2018
Jersey ‘third easiest jurisdiction’ in world for finance compliance
Despite local complaints about red tape, Jersey has just been named the third easiest jurisdiction in the world as far as financial and tax compliance is concerned.
04/22/2018
FirstCaribbean Bank Drops New York Listing
FCIB is one of the largest listed financial services institutions in the English and Dutch-speaking Caribbean.
04/20/2018
When it's time to come back onshore
Under Article 8 of the European Convention for the Protection of Human Rights, "everyone has the right to respect for his private and family life"
04/19/2018
Cayman Islands Investment Funds AML Update: Natural persons must be appointed as AML officers
This represents a substantial change in practice and comes after discussions between CIMA and the Cayman Islands funds industry to clarify some parts of the updated AML guidance notes1 published by CIMA in December 2017.
04/19/2018
UBS Broaches Swiss Tax Taboo
At present the AEoI standards haven’t affected Swiss domestic bank secrecy – Swiss clients banking in Switzerland.
04/19/2018
Innovative Legislative Amendments can Position Jersey as Forward-Thinking Philanthropic Centre of Excellence
The move to adopt the Charities Law paves the way for the establishment of a voluntary and innovative system of charity registration and introduces a new definition of ‘charitable purposes’ and a charities test, with the registration of charit
04/18/2018
Europe tries to force cloud providers to give up offshore data
Within six hours in "urgent" cases.
04/18/2018
Bermuda delegation welcomed at RIMS
This is strengthened considerably by such a prominent government and regulator presence.
04/18/2018
BMA COO hails 2017 progress
Lespere highlighted BMA’s numerous activities in 2017
04/18/2018
HSBC Malta launches pension plan for its employees
The plan involves contributions from employees that are matched by the bank while ensuring that overall levels of contributions agreed between HSBC and MUBE are achieved
04/18/2018
Guernsey Financial Services Commission signs MoU with Bank of England
The PRA is a part of the Bank of England and responsible for the prudential regulation and supervision of banks, insurers and major investment firms, regulating some 1,700 financial firms.
04/17/2018
Guernsey regulator fines locally-based trust firm for compliance failures
The company had also “significantly strengthened its compliance function…expanded its compliance team by over a third in number
04/17/2018
Why India’s cryptocurrency exchanges may move to Singapore, Switzerland, or Malta
These “cryptocurrency-friendly” locations include Singapore, Switzerland, Estonia, Malta, Japan, Dubai, and the Cayman Islands.