Managers of Wealth Offshore

Eastern Caribbean Supreme Court Issues New Practice Directions

The above summary will be supplemented shortly by an article discussing the “ins” and “outs” of the newly adopted practice directions.

Carey Olsen advises Jersey Electricity on lease of land for first ground-mounted solar farm

Jersey Electricity signed an Agreement for Lease for the fields in July 2022

New offence of failure to prevent bribery – Guernsey

To remedy this, Guernsey has now introduced offences of failure by corporate entities to prevent bribery and facilitation of tax evasion

The Corporate Transparency Act: US CLO Co-Issuers and Issuer Subsidiaries

In scenarios where these vehicles are within scope of the CTA, the Maples Group provides a dedicated range of CTA services, which will significantly alleviate the regulatory and compliance burden for clients and US counsel from this legislation.

Regulation Of Moneylending In Mauritius

The Moneylenders Act was repealed and the supervision, regulation and licensing of moneylenders were entrusted to the Bank of Mauritius.

Updates to the AML/CFT/CPF Handbook

These changes have been incorporated into the updated Handbook and, where applicable, corresponding rules and guidance have also been amended.

Rented dwellings licensing regime to commence in Jersey

The Licensing Regulations do not apply to non-residential or commercial lettings.

Fee consultation feedback and new fee notices: TCB, GIMB, MSB and Schedule 2

Following feedback received, we will not be proceeding with the proposed increase in fees of 10.1% but instead will be increasing fees by 6%.

Professionals beware: phishing scams are getting much more sophisticated

Fraudsters are mimicking writing styles and e-mail addresses to dupe businesses

The rights of minority shareholders to bring claims for improper use of power by the company

The dispute arises out of a battle for control of CSCG.

Central Bank Focus Areas for E-money and Payment Firm Applications

This update will examine how Firms can prepare their applications to overcome or avoid these challenges.

Guernsey's inflation rate slows to 5.8%

Inflation is Guernsey is measured by the States of Guernsey

Jersey introduces licensing scheme for landlords

Properties such as lodging houses, tourist accommodation and nursing / care homes are separately regulated, so are not covered by the Regulations.

The Luxembourg government approves major amendments to proposed reform of residential leases

The government decided to entirely amend the provisions regarding the controversial rent ceiling reform and declared a new proposal may be issued following a wider consensus.

AI: Risk and Regulatory Considerations for Irish Regulated Firms

These risks include operational vulnerabilities; ethical concerns; data privacy issues; and, as we will consider further here, regulatory compliance challenges.

BMA chief to take part in investment panel

The panel will be of particular interest because Bermuda-based life re/insurers have come under increased scrutiny over their investment policies.

Trade Commission eyeing direct import route to slash costs by 20 percent

He noted that the Commission is working particularly with countries where The Bahamas has embassies to see how Bahamian exports can be increased to those countries.

EU regulations to impact finance firms warns consultants

There is an additional focus on the EU occupational retirement sector that outsources a significant part of their core business, such as asset management.

Ascot Group implements data magnifier

The magnifier, provided by insurtech Percipience, was delivered 30 days early and below budget

Local banks accused of Exploitation

Skelton argued that local banks keep transferring their operating costs to customers because they do not want to bear these costs themselves.

Regulation, Risk & Compliance