Managers of Wealth Offshore

Trustee Decision-Making and the Role of the Court: 'Blessing' Applications

This Guide provides an overview of 'blessing' applications and how and when a trustee may obtain the court's assistance.

Key Measures in Mauritius’ Finance Act

The Mauritius National Budget 2023/2024 was presented by the Minister of Finance, Economic Planning and Development on June 2, 2023.

What documents and records must a BVI company keep?

This guide examines the documents and records that must be kept by a BVI company limited by shares that does not carry on a regulated activity.

H1 2023 populated by ESG Sukuk featuring offshore centers

In this Country Correspondent Report for Islamic Finance News ("IFN"), Manuela Belmontes and Barbara Kramarz discuss the increase of ESG- linked Sukuks that feature offshore centres.

BMA levies $900,000 fine on Acadia Life

The authority has taken the nature of the breaches into consideration in determining the appropriate level of the civil penalties to be imposed for each contravention.

Amendments to legislation administered by the Guernsey Registry

The amendments should also achieve operational efficiencies for the Registry benefitting those using its services.

AML update: consultation on amendments to the AML/CFT/CPF Handbook

In this update, we set out the JFSC's proposals to add new and expanded guidance notes across the Handbook and to add a new code of practice in respect of politically exposed persons.

PTC update: clarification of application of NPTO

These developments provide welcome clarification in respect of the application of the "as a business" test to PTCs, and other corporate bodies, acting as a trustee of an express trust.

Franklin a potential threat to Bermuda

It has been classed as a potential threat to Bermuda.

Amendments to the Proceeds of Crime (Duties of Non-Professional Trustees) (Jersey) Order 2016

The JFSC exercises its powers reasonably and proportionately and looks at any breaches of our requirements on a case-by-case basis.

Bank of Saint Lucia chooses Clearwater for its new fund

Bank of Saint Lucia has selected Clearwater Analytics and Clearwater JUMP to power its new mutual fund.

CIMA signs oversight & regulatory oversight MOU

The MOU calls for the sharing of information to enable the enforcement of laws, regulations, policies and professional standards relating to approved audit firms.

Drop in alerts about potential financial crimes

The unit responsible for tackling financial crime has confirmed a drop in the number of Suspicious Activity Reports

BoJ developing protocols to handle faulty bank notes

That gave rise to significant public debate concerning whether this was a wider problem.

IMF: Bahamians need more protection from bank failure

It also identified the Bahamian cooperatives sector as an area of “some distress” and financial weakness.

Government signs deal for plan to aid in renewable energy integration

CCREEE, which was established in 2018, helps member states navigate their energy transition.

Central Bank advancing financial crisis ‘playbook’

The Financial Stability Council’s membership will be comprised of financial services regulators

Zane DeSilva money-laundering charges dropped

Anthony Blakey’s Savvy Entertainment borrowed the funds from the Government five years ago to open a recording studio in Bermuda.

Jersey’s Privacy Force shortlisted for International Privacy Award

The Global Privacy Assembly has been at the forefront of global data protection and privacy leadership for more than four decades and connects data protection and privacy authorities, worldwide.

Expert: giant holes found in company cybersecurity defences

The largest data breach of 2023 so far was Twitter, leading to 220 million breached records.

Regulation, Risk & Compliance