10/31/2023
Cayman Islands and Panama no longer subject to FATF increased AML scrutiny regime
Finally, FATF found, the jurisdiction was not demonstrating that it was prosecuting all types of money laundering in line with its risk profile
Regulation, Risk & Compliance
10/31/2023
Job cuts to save Butterfield $13m annually
Mr Collins was speaking during the bank’s quarterly earnings call, which took place a day after Butterfield announced third quarter net income of $48.7 million.
10/30/2023
Over two decades on, CIG still struggles with accounts
Another worry about the management of public finances is the failure of many public entities to follow procurement rules.
10/30/2023
GCRA updates advice on data roaming
Michael Byrne of the GCRA said the decision to alert consumers to the potential problems follows a recent complaint by a customer of a local mobile network provider, which has since been resolved.
10/30/2023
Guernsey urged to scrap 'unfair' tax cap
Out of our 65,000 residents, approximately 30 individuals benefit from our generosity.
10/30/2023
Resolution Re signs pension risk transfer reinsurance agreement
The transaction is the first of its kind for Resolution Life, which has previously signed reinsurance agreements
10/27/2023
FIAU will continue issuing ‘unconstitutional’ fines until court appeals are over
Anti-money laundering watchdog holds out for definitive decision before switching system
10/27/2023
Where to Relocate: Cayman Islands With Cayman Islands Monetary Authority
The jurisdiction has taken a phased approach to implementation of the VASP legislative framework, which is being done in two phases.
10/27/2023
Bermuda hosts US insurance regulators
The IAIS is the international standard-setting body responsible for developing and assisting in the supervision of the global insurance sector.
10/27/2023
Regulator rejects golden passport fund’s nominee for Lombard Bank director
Paul Abela, who was one of two people nominated by the National Development and Social Fund to serve as a director on Lombard Bank, has failed to receive regulatory approval • John Bonello gets green light
10/26/2023
When two become one: How BVI statutory mergers can help your business
Our team has recently been flat out solving client problems with statutory mergers
10/26/2023
Minimum wage to increase every year for next four years
Agreement reached between social partners
10/26/2023
ROC to expand role, staff and revenue
Significant changes have arisen from that increased scrutiny
10/26/2023
Regulatory and compliance updates for Bermuda Q3 2023
For insurers that do not have such exposure, they can continue to use the previous BSCR models.
10/25/2023
P&R asked to resign
The seven deputies who’ve now written to P&R are; Charles Parkinson, Andy Cameron, David de Lisle, Marc Leadbeater, Aiden Matthews, Andy Taylor, and Simon Vermeulen.
10/25/2023
How will religion and belief be protected under Guernsey's new discrimination law?
The protection of philosophical belief as well as religious belief mirrors the UK Equality Act 2010 (the Equality Act).
10/24/2023
BMA licences one new insurer in September
Although licensing figures are lagging behind 2022 so far, October looks busier
10/24/2023
Securities Commission urges court-supervised liquidator for ArawakX record seizure
The Securities Commission has filed a petition to wind up ArawakX
10/24/2023
States confirm definitive details for implementation of secondary pensions
Medium-sized and smaller employers will be phased in later.
10/23/2023
Canada, CARICOM launch Strategic Partnership following Summit
CARICOM leaders welcomed Canada’s new support of $64.5 million in new climate financing, and $10 million for resilient agriculture systems.