Managers of Wealth Offshore

Grenada: Government to pay pension to public workers by November

The data coming out from the Ministry of Finance is that the retroactive payment is going to be in the region of EC$60 million.

Cayman freezes US$8.7 billion in Russian assets

This represents over US$1 billion more than initially reported in April by the cross-government task force established to coordinate the application of sanctions against Russia.

Streamline: Trade policy draft calls for review of incentives and duty exemption schemes

It was also noted that the various encouragement acts set different conditions to benefit from exemptions as well as provide a different scope for exemptions.

Additional information sources to support Industry in combatting financial crime

These documents are for information only and do not introduce any new Code of Practice requirements.

78% of Jersey firms believe RegTech tools are increasingly necessary for achieving compliance

RegTech firm RT Associates who conducted the report found that 78% of Jersey firms believe RegTech tools are increasingly necessary for achieving compliance.

Bermuda Government’s two-bond buyback

The Government will determine in its sole discretion the aggregate principal amount of Existing Notes of each series validly tendered in accordance with the terms and conditions that it will accept for purchase.

Real Estate Transactions: Legislative Amendments

These amendments are reflected in the Real Property Tax (Amendment) Act, 2022, the Stamp (Amendment) Act, 2022, and the Value Added Tax (Amendment) Act, 2022, (which all took effect on 1 July 2022) and are set out below.

Performing an AML audit for your organisation – Franklin Cachia

There are various phases throughout an AM audit.

BWCI Pension Trustees reprimanded for data protection responsiveness

Following the investigation, the Authority determined that the Controller breached the Law by failing to respond appropriately to the Complainant’s Request.

STEP conference’s carbon footprint offset by donation to marine conservation project

The event had a full day’s line-up of in-person speakers who covered a variety of topics which included gender identity in family trusts, philanthropy and social purpose and NFTs alongside essential industry updates.

Removing the barriers to Shariah-compliant investments

Quilter Cheviot is now able to provide this solution in partnership with Yasaar, a Shariah supervisory firm

Banks’ fee income doubles in decade

“After interest earnings, fees on the products and services prove to be the second most important source of revenue for banks.

BOJ’s tightening dilemma

This is because the Government of Jamaica has relatively limited capacity to provide meaningful economic stimulus that could coax the economy out of a recession.

100% pass rate for Jersey and Isle of Man financial services staff

The internationally recognised qualification is studied over nine months and equips students with a thorough understanding of the regulation of financial services.

British Virgin Islands Private Trust Companies

This is a corporate trustee established for the purpose of acting as trustee of a specific trust or trusts

Insurers and Insurance Managers: Review & Reset Items

Note that if a company remains in ‘enquiries pending’ for an uninterrupted period of not less than three months, that is treated as prima facie evidence that a breach has occurred and a fine may be issued.

Jersey employment update - zero hours contract consultation and Employment and Discrimination Tribunal annual report synopsis

The vast majority of the determined cases saw the claim being heard within 6 months

Regulation, Risk & Compliance