Managers of Wealth Offshore

Weaknesses found in Cayman VASPs’ custody controls

The authority noted that such gaps increase the risk of mismanagement, operational failures, internal fraud and security breaches.

New Vesttoo filing targets Aon’s Bermuda managers

For the first time, the trustee is framing the misconduct as violations of Bermuda statutes, including the Insurance Manager Code of Conduct

FATF Fifth Round Mutual Evaluation – are you ready?

FSPs should review and assess their own policies, procedures, systems and controls ahead of this evaluation.

Landmark Ruling on Shareholders’ Misrepresentation Claims in Company Liquidations: The Houldsworth Rule Modified for the Cayman Islands

The rule in Houldsworth will therefore apply in the modified form which Segal J explained in Direct Lending in relation to liquidations of Cayman Islands companies

Cayman banks implement new global wire transfer standard

Customers receiving international wires must also ensure senders have the correct correspondent bank routing details for the currency being sent.

CIMA finds governance gaps across virtual assets sector

The authority found that more than a quarter of the entities reviewed did not meet minimum board composition requirements.

FRA introduces annual frozen assets reporting requirement

The requirement is to provide an annual frozen assets report to the governor with details of these assets,” the FRA stated in the notice, adding that first reports are due by 30 November.

Anglin announces massive fee hikes

The Compass will have a more detailed analysis in the coming week, but we highlight some of the most notable below.

Cayman’s digital asset businesses prepare for evaluation

In 2024, Cayman amended its VASP Act, aiming to become more compliant with task force regulations

Jersey’s proposed minimum wage for 2026 announced

Minister for Social Security, Deputy Lyndsay Feltham said: “This proposed increase is another important step in ensuring that employees are paid fairly in Jersey."

Bermuda Monetary Authority Advances Landmark Embedded Supervision Initiative To Architect Real-Time Regulatory Oversight For DeFi

The BMA’s Innovation Hub continues to serve as a collaborative environment where industry, academia, and technology providers can test emerging solutions under real-world regulatory parameters.

EU plans for financial markets reform

Europe’s productivity growth, innovation rate and ability to promote new companies are symptoms of its tired economic strategies

CIMA deploys transition period for new fund de-registration system

Applications submitted on or after 8 November without required documents by that date must be resubmitted using the new forms through REEFS.

Regulator detects 142 breaches by licensees

The timeliness definitely can be improved.

Secondary pension minimum contribution increasing

From 2027 the minimum for both will be 2% with further increases planned until 2032, when the employer contribution is set to be 3.5% and 6.5% for the employee.

Cayman seeks UK approval to join Paris climate treaty

“Joining the Paris Agreement would demonstrate that we are ready to contribute meaningfully to the collective effort for a more sustainable and climate-resilient world.”

Companies law changes to allow faster capital reductions

Another significant amendment expands migration options for foreign entities.

Banks streamline services as account opening times improve, Central Bank survey finds

With increasing economic activity and population growth driving demand for banking services, the survey provides critical insights into operational and regulatory factors that affect account opening outcomes

Guernsey's new housing legislation

This new legislation implements housing standards and regulation for the private residential sector

BML debit card merchant fee lowered to 1 percent

MDR is a commission charged by the bank to businesses that use BML's card machines for transactions.

Regulation, Risk & Compliance