02/03/2017
RBS’s private bank hit with £5m Swiss fine
As Coutts did not report any suspicions to the Swiss authorities until 2015.
Regulation, Risk & Compliance
02/03/2017
Barbados bonds in distress
Barbadian economist and financial analyst Professor Avinash Persaud issued that warning from London yesterday.
02/02/2017
IoM life industry discloses extent of commission complexity
According to industry responses to a consultation paper.
02/02/2017
Caribbean Association Of Banks Urges Compliance With FATCA
The CAB strongly encourages the remaining Caribbean countries to ensure that their IGAs are in force by their extended deadlines
02/02/2017
JFSC focuses on shared responsibility for 2017 Business Plan
It would be focusing its regulation on the areas of greatest risk.
02/02/2017
FINMA sanctions Coutts for 1MDB breaches
When the account was opened, information was provided to the effect that USD 10 million would be transferred to it from the account holder’s family assets.
02/01/2017
Guernsey: Issues Affecting Investment Funds
This article begins to explore some of the more general issues to be aware of in relation to some problems concerning investment funds and funds in distress.
02/01/2017
The protected cell company turns 20
The Protected Cell Companies Ordinance, 1997, came into effect on 1 February 1997 for Guernsey’s captive insurance sector and was the first cell company legislation of its kind anywhere in the world.
02/01/2017
CAB voices support for National Bankers Associations on FATCA
Failure to do so, has far reaching implications for banks in terms of an increase in sovereign risk and its impact on their ability to conduct business.
02/01/2017
2016 loss hits $7.9M at Heartland Bank; Cayman loan cited
Platinum Partners and its funds also are being investigated on accusations it overvalued its assets.
02/01/2017
IoM regulator confirms two commission disclosure deadlines
From 1 January 2018, the Key Information Documents will have to confirm that commission will be paid and the range of commission for each product.
01/31/2017
Bob Warns Preference Investors: No Dividend
The troubled bank that has lost $120 million collectively over the past three years.
01/27/2017
The Growing Importance Of Independent Boards
A split independent board overcomes this issue.
01/27/2017
Could Brexit Britain become 'Europe's cold, wet Cayman Islands'?
Lawyers discuss dual track regulation, equivalence and the potential to streamline the UK's financial regime.
01/25/2017
UK officials visit crown dependencies to discuss ‘Crexit’
The committee will use the trip to compile a report setting out the potential opportunities and risks for the crown dependencies of Brexit.
01/25/2017
OECD’s MLI: will tax treaty benefits apply to private equity investors?
Clear guidance from the OECD on the scope of the broadly-worded PPT is a vital and urgent concern.
01/25/2017
Private equity looks to Luxembourg for access to single market
Sector seeks to ensure it will be able to operate on continent after Brexit
01/24/2017
Gibraltar ups due diligence for stock exchange approval
Due diligence and commercial due diligence remain compulsory elements of listing or joining the GSX.
01/24/2017
Not just a ‘Panama problem’: banks and Big Four are tax avoiders’ middlemen
Europe has some “backyard cleaning up to do” as the second region with the highest number of intermediaries having assisted international tax dodgers revealed in the Panama Papers
01/23/2017
Kurt Wilson | Jamaica Banking Sector Is Advanced
Major names in the banking community have taken pains to ensure that growth this time around is sustainable.