11/30/2015
GFSC recognises use of technology in due diligence process
The changes also include guidance for firms on the use of online utility bills to verify the address of Channel Islands residents.
11/30/2015
Cayman Trust Licence enables Hawksford to expand presence and global capabilities
Hawksford is now able to provide a full range of trust services to both private and corporate clients in the Cayman Islands, having secured a Trust Licence from The Cayman Islands Monetary Authority.
11/27/2015
Turks and Caicos boosts micro, small and medium businesses with new legislation
This move by the government is expressed to be in fulfilment of its mandate to continuously improve the economic climate of the country through expansion of services
11/27/2015
Bankers’ Association’s Message To Customers
The BBA is committed to ensuring that the legal and regulatory framework governing financial services in Bermuda operates in an efficient, effective and fair manner.
11/27/2015
Deutsche Bank wins Custody Risk Award
The Bank was named ‘Channel Islands Custodian of the Year’ at the Custody Risk European Awards 2015 ceremony.
11/27/2015
Delegated Act for Bermuda Solvency II Equivalence published
The EU Parliament has three months to provide objections (with a possible extension of a further three months)
11/27/2015
Banks explain extra information requests
Bermuda is not immune to the impact of these changes.
11/27/2015
UK escalates beneficial ownership demands
The U.K. government has called for a centralized register of beneficial ownership information in all its Overseas Territories and Crown Dependencies since 2013.
11/25/2015
The programme, aimed at creating a pathway for high-performing Caymanian students into the Cayman Islands financial services industry
11/23/2015
Top EC official: treat Bermuda as equivalent
Mr Guersent, the director-general for financial stability, financial services and capital markets union said that the Commission is in the process of adopting two equivalence decisions, concerning Bermuda and Japan.
11/23/2015
The body seeks to promote the adoption of international regulatory standards in the banking, fiduciary, anti-money laundering and combating the financing of terrorism arenas.
11/20/2015
He called the new rules "an important step, but not the end of our work."
11/19/2015
When first tabled in July 2015, the bill proposed a fine of 17.5% in addition to income tax charged at 17.5%.
11/17/2015
ASIC forces Formax to remove false statements on retail forex subsidiary ACMAS’s license suspension
Formax is controlled by Chinese investors, is based in the Cayman Islands, and has forex brokerage subsidiaries in New Zealand and the UK, where Formax recently received an FCA license.
11/16/2015
Standard Chartered to pay $6.3 million in Swiss program deal
The Swiss Bank Program, which was announced on Aug. 29, 2013, provides a path for Swiss banks to resolve potential criminal liabilities in the United States.
11/16/2015
CICRA has the power to approve the transaction, impose the transaction while imposing condition or it can block the transaction outright.
11/16/2015
Overall, the project seeks to establish an integrated insurance and pension market in the ECCU that would lead to the creation a more efficient and better regulated insurance and pension market.
11/12/2015
The bill passed the House by a vote of 230-213; it must still be approved by the Senate.
11/09/2015
Standard & Poor’s has confirmed that Guernsey’s credit rating remains at “AA+”, the highest rating the jurisdiction can achieve.
11/04/2015
Financial Services Firms Set For 25% Contraction
Andbank chief executive, Manel Martinez, said the Bahamian financial services industry needs to effectively “up its game” and differentiate itself from its competitors.