Managers of Wealth Offshore

BMA steps in over Vesttoo

Meanwhile, a new AM Best commentary says the Vesttoo saga highlights the importance of managing counterparty risk.

BMA and White Rock join forces on Vesttoo

By then, the Bermuda Monetary Authority had already successfully caused Vesttoo’s Bermuda subsidiary, Vesttoo Alpha P&C, to be put into liquidation.

MFSA warns about unlicensed entities, clone websites

APS Bank, Club has no connection with APS Bank

HMRC issues compliance follow-up to overseas companies that own UK non-residential property

However, if the company has committed tax fraud it is directed to the contractual disclosure facility.

The Bahamas working towards removal from EU black list

The EU is set to re-evaluate this country’s substance reporting regime

CTAWU negotiates salary increase for BOSVG workers

The increase is distributed over the three year period – two per cent for the period 2021 – 2022; 2 percent for the period 2022 – 2023, and 4 percent for the period 2023 – 2024.

Regulator fines FLOW $400,000 for breaching terms of licence

The regulator has now issued a final determination imposing a fine on FLOW of $400,000 for the unapproved price increase and delivered a warning for the data reporting breach.

Vesttoo says non-Israel employees are not under suspicion in fraud

Vesttoo can confirm that the federal court in New York has removed the temporary restraining order freezing the company’s accounts on the 15th of August

ESMA Statement on Expected Sustainability Disclosures in Prospectuses

The Statement further clarifies that the prospectus should provide the basis for any statements concerning the sustainability profile of the issuer or of the securities issued.

Carey Olsen claims a positive 2023, so far

First, Carey Olsen acted for its long-standing client Industrials REIT Limited, in a deal valued at £511.2 million.

Progress on implementation of the Irish ELTIF 2.0 offering

Irish Funds has confirmed that the Central Bank proposes to create a standalone ELTIF chapter of the AIF Rulebook

US and Bermuda regulators to discuss long term re/insurance

The panel will discuss topics such as the global protection gap that exists in the availability of pension benefits, the influx of capital into the sector, and cross border reinsurance.

Half wouldn’t work somewhere that didn’t offer flexible working

“As companies witnessed the success and productivity of their employees working from home, many realised the potential benefits of flexible working arrangements beyond the pandemic.”

New Fiscal Policy Panel to provide independent assessment of Funding & Investment Plan

The F&IP will address how it intends to finance those projects alongside the States’ other essential strategic and policy work and the funding of day-to-day public services.

Overview of the New Cayman Islands Restructuring Officer Regime

With the benefit of the breathing space under the new regime, it allows corporate entities to promote and implement a restructuring

September seizures for property tax delinquents

We should have done it already.

Regulator tells banks closure practices are “unacceptable”

Lenders have been encouraged to converse with the regulator if they have any concerns with local rules or guidance

Migration of foreign limited partnerships into Jersey

The Regulations permit a foreign limited partnership to continue in Jersey as a limited partnership under the Limited Partnerships (Jersey) Law 1994, provided certain conditions are met.

Trustees and other fiduciaries – consideration of Guernsey's lending, credit and finance law

As a reminder, the purpose of the LCF Law is to regulate consumer credit and finance business

An overview of Jersey funds: Comparative table

All funds are subject to Jersey's internationally compliant laws and regulations in respect of the prevention and detection of money laundering and the financing of terrorism.

Regulation, Risk & Compliance