01/06/2016
BAHAMAS: Central Bank Urged: ‘Step In’ Over Bob’S $100m Loss
They will also likely urge the 35 per cent minority investors, and the Bahamian public, to draw encouragement from the 91.4 per cent reduction in year-over-year losses for the 2016 first quarter.
01/06/2016
Cayman Islands regulator refuses to assist with $450m fraud investigation
It has not closed down B & C Capital Ltd, a shell company that held itself out as a "bank," and received the assets of as many as 60 Canadian and American retirees and pensioners.
12/30/2015
Swiss Private Bank Has Agreement in Principle in U.S. Tax Probe
The bank remains committed to cooperating proactively with the DOJ’s investigation
12/29/2015
The Cayman Islands-based unit, The Saudi National Commercial Bank Markets Limited, will be 100 percent owned by NCB and have a paid-up capital of $50,000, a bourse statement said.
12/29/2015
Due diligence procedures for identifying existing individual accounts with balances of at least $1 million will have to be completed by December 31, 2016
12/28/2015
Tony O'Reilly, the former billionaire who was declared bankrupt in the Bahamas in November, has resigned as a director of his Fitzwilton investment vehicle.
12/27/2015
Swiss referendum aims to glimit speculation by granting central bank monopoly over creation of both physical and electronic money, and requiring private banks to hold 100% cash reserves againt deposits.
12/23/2015
CIMA satisfied with Cayman National US$6M settlement
The Cayman Reporter highlighted the report however no details on the actual circumstances around of the investigation were revealed in the Cayman National statement.
12/21/2015
Swiss private banking group seeks deal With US To Settle American Offshore Accounts Case
Will meet with U.S. officials in the coming week for negotiations, the report said.
12/21/2015
CAYMAN ISLANDS: Default settings: Banks offer clarity on troubled loans
Amendments to banking codes don’t normally appear on anyone’s Christmas list.
12/21/2015
The agreement still needs to be approved by the Cayman Islands Grand Court and the U.S. District Court for the Southern District of New York.
12/21/2015
According to the terms of the joint non-prosecution agreement signed today, EdR Switzerland agrees to cooperate in any related criminal or civil proceedings, demonstrate its implementation of controls to stop misconduct involving undeclared U.S. accounts
12/18/2015
The Department of Justice has announced that Bordier & Cie Switzerland (Bordier), PBZ Verwaltungs AG (PBZ) and PostFinance AG reached resolutions under the department’s Swiss Bank Program. These banks collectively will pay penalties of more tha
12/17/2015
New banking code formalizes procedure in customer defaults
The new amended code, which all CIBA members have to adhere to, specifies the steps banks will take to find a solution when borrowers are unable to make their loan payments.
12/17/2015
DMS Managing Director Derek Delaney and Executive Director Nicholas Parkes discuss the firm’s innovative regulatory solutions with respect to FATCA and AIFMD, in Hedgeweek Special Report 2015.
12/17/2015
Lecture by Dr DeLisle Worrell, Governor of the Central Bank of Barbados, at the Carleton University, Ottawa, 17 September 2015.
12/16/2015
Commentary: Cayman Islands regulator repeatedly fails to assist victims of fraud
Cayman financial professionals report that there are at least a dozen open and pending investigations at CIMA into major frauds, and not one has apparently resulted in a criminal referral to the Royal Cayman Islands Police Service.
12/15/2015
Central public register may be inevitable
Cayman has been under pressure for some time now to introduce a central public register
12/15/2015
The UK is expected to send law enforcement officials to Cayman in the New Year to enhance the current cooperation regime between this jurisdiction and the authorities in Britain regarding financial crime and money laundering.
12/15/2015
Four Things That Offshore Funds Should Not Do
Most offshore funds that trade U.S. instruments manage to avoid the ECI issue by restricting themselves to U.S. activity that fits within the “stocks, securities and commodities” safe harbor.