Managers of Wealth Offshore

BMA to propose more transparency over life reinsurers’ investments

They also follow the launch of two consultation papers by the BMA in early December.

Securities Investment Business in the Cayman Islands

If the SIB Act applies to the activities of an entity or person then the entity or person must apply to the Cayman Islands Monetary Authority for a licence or registration under the SIB Act unless one of a limited number of exemptions applies.

Jersey real estate roundup

2024 year in review

Carey Olsen advises Soter Insure on achieving full license approval from Bermuda Monetary Authority

Obtaining this license is a significant milestone for Soter

EU sees gradual reduction in government debt, approves Malta fiscal plan

Government welcomes 'vote of confidence in Malta's fiscal administration'

GCRA publishes ruling on restrictive non-compete clauses and issues fine to MSG

Non-compete clauses, which can prevent individuals from starting new businesses or working for competitors, may stifle innovation and limit options for the community.

New rules for Privy Council appeals

The New Rules apply to all appeals filed with the JCPC on or after 2 December 2024, including applications for permission to appeal.

Deadline to register for data handling work

This helps the free flow of data between the islands and the EU, helping its economy, it said.

Electronic service of judicial documents: a game changer in legal processes

More efficient e-communication and notification procedures would expedite the service process

BMA confirms registration of 13 insurers in December

Aon Reinsurance Bermuda Ltd was registered as a broker and Euclid Mortgage Bermuda Ltd was registered as an agent.

Cayman issues 40 new international insurance licenses in 2024

Additionally, three new insurance managers were licensed during 2024.

Data Protection For Cayman Islands Investment Funds

The DP Act is similar to the General Data Protection Regulation (GDPR) of the European Union with which many clients will be familiar.

AXA XL's Bermuda Professional Lines Business Launches New Wage & Hour Policy

Higher minimum wages, increased salary thresholds for exemptions under the U.S. Fair Labor Standards Act and expanded overtime protections, all point to increased risk and exposure to defend costly litigations.

The doctrine of mistake in Guernsey

The doctrine of mistake can often provide a relatively inexpensive and efficient way to rectify a mistaken decision by a settlor

GFSC increases licence fees by 5.3% despite concerns

It said it had received feedback from all sectors of industry, but primarily on the overall fee increase

Revenue Service director role split into two separate jobs

The responsibilities of the director of the Revenue Service are being split into two separate jobs.

CCA condemns Izmirlian’s winding-up petition as “meritless,” vows to protect Bahamian jobs

BML Properties Ltd. has requested the appointment of Simon Townend and Jean K. Green-Thompson of KPMG Bahamas Ltd., along with James Neill of KPMG Ireland

BMA grants Class IIGB licence to Soter Insurance Ltd

Henson Orser, chief executive of Soter Insure, said: “This licensing milestone underscores Soter Insure’s commitment to redefining insurance for the Web3 economy.

CIBC warns customers of text messaging scam

CIBC said it is taking steps to address the issue by reporting the fraudulent sites.

£140k role created at Revenue Service

The current Director of the Revenue Service is staying on, but will be given a new role focused on domestic and international policy development.

Regulation, Risk & Compliance