Managers of Wealth Offshore

Money market report for the week ended March 8, 2024

ECB freezes interest rates

Cayman Companies Act Moves Forward

The version of the Bill that was passed is significantly different from the version that was circulated for consultation.

MFSA campaign informs consumers on the dangers of greenwashing

Companies sometimes falsely portray themselves or their products as environmentally friendly

Minister briefs MPs on planned privacy regulations

The Personal Information Protection Act comes into force at the beginning of next year.

Breaches of regulatory requirements in 70% of client files

The Commission found that half of the reviewed files had been inappropriately risk assessed.

James River seeks to enforce closing of JRG Re sale

James River brings this action in response to the refusal of Fleming to complete the fully negotiated transaction that it executed in November.

Why an in-house consultancy solution to your senior recruitment needs brings more benefits than cost

Businesses have tightened their belts and employees are less fluid; they are staying put with the hatches firmly battened down, waiting out the cost-of-living crisis.

Government of Bermuda to Introduce Corporate Income Tax

The CIT Regime applies to Bermuda tax resident entities and Bermuda permanent establishments that are part of Multinational Enterprise Groups

Imminent amendments to Cyprus Companies Law for the implementation of the EU Mobility Directive

Employees must, under the Mobility Directive, be provided with adequate information and are offered consultation rights in respect of the proposed reorganisation.

Nearly 67k individuals' private data breached due to JFSC system flaw

The JFSC clarified that the data did not link individuals to specific entities or roles.

Annual Returns – Preparation for Upcoming Deadlines

The first step will be a short call with our accounting team to understand the assets, liabilities, income, expenses and activities of your BVI company.

Islanders and Jersey businesses asked to help shape law on cyber security

An OES is defined as “any service which is essential for the infrastructure of Jersey or the maintenance of critical societal or economic activities in Jersey”.

FOCUS: £210k fine for working with alleged war criminal without a licence

Potential UK Budget implications for Guernsey residents and businesses

There have been no changes to previously announced rates and allowances.

Company immigration to, and emigration away from, Jersey

The reasons companies consider migration include seeking out more appropriate tax regimes

Stonehage Fleming Receives FINMA Operating Licence

In 2020, new financial regulations were introduced by FINMA

Cayman minimum wage proposed at $8.75/hr

Only 23 per cent of the total beneficiaries would be Caymanians, while the majority would be permit holders.

Central Bank Fintech Supervisory Priorities 2024

In the Annual Report, the Central Bank identified six key areas of supervisory focus for 2024 which Fintech firms should be aware of.

Lloyd’s approves energy transition syndicate

Receiving permission to underwrite through Energy Transition Syndicate 2050 is a milestone for AXIS.

Cayman Islands Opens Doors for Comments on Proposed VASP Amendments

The Cayman Islands is the world’s largest investment fund domicile after the United States and one of the most popular locations for funds with digital asset strategies.

Regulation, Risk & Compliance