03/20/2023
Guidance concerning the disqualification of a person from acting as a director
The most common way the AG will become aware of any disqualification triggers would be through the JFSC
Regulation, Risk & Compliance
03/17/2023
TrueUSD Moves $1B in Reserves To The Bahamas After U.S. Banking Failures
“The funds are with the US, but we need to use an offshore bank to achieve that.”
03/17/2023
Irish FinTech Regulation Focus 2023 - Six Key Areas
This sector continues to see significant growth
03/17/2023
Barbados to resume offshore licensing process in April
The prime minister added that there is the possibility of entering into bilateral partnerships to tap the hydrocarbon resources.
03/17/2023
Carrying on business in the Cayman Islands
The guide below sets out the process and procedure to apply for a trade and business licence and, where applicable, a licence under the Local Companies (Control) Act (as amended).
03/16/2023
Bank industry warns of phishing scams
To avoid phishing scams, do not respond to e-mails or pop-up messages asking for personal or financial information.
03/16/2023
Amendment to Matrimonial Causes Act Brings No-Fault Divorce to Bermuda
These amendments have brought a welcome end to the divorce “blame game” that was required under the old legislation.
03/15/2023
Cyber protection gap much bigger than nat cat
The report also provides an overview of the wide range of potential levers that can be used by a broad variety of stakeholders to address the gaps.
03/15/2023
Jersey Limited Liability Company (LLC) legislation to enhance pan-Atlantic business for US fund managers.
A Jersey LLC is a corporate entity with limited liability of its members.
03/15/2023
Government missed red flag before Signature closure, says OBA
Were they providing any ongoing monitoring and due diligence since the start of the relationship?
03/15/2023
What is the revised scope of Jersey’s AML/CFT/CPF Regime and what are the options for those now in scope?
It is important to note that there has been no change to scope of JFSC Regulation.
03/14/2023
CBCS publishes core guidelines for credit institutions
The Guideline for the Sound Management of Credit Risk includes principles for the sound management of credit risk associated with the implementation and ongoing application of overall credit risk practices by credit institutions.
03/14/2023
EY and Revenue Jersey advice on Automatic Exchange of Information Regimes compliance
The seminar provided practical advice and an update on FATCA and CRS developments, as well as Revenue Jersey’s expectations from the financial services industry on compliance in Jersey.
03/14/2023
Circle reassures depositors in wake of SVB collapse
SVB, which was popular with tech start-ups, was toppled late last week after a run by bank customers.
03/13/2023
Bermuda emerging as jurisdiction of choice for European investors in CRE CLOs
The collateral comprises real estate loans backed by mortgages over the underlying real estate assets.
03/13/2023
Attorney General issues guidance note to all directors on insolvent liquidation
The guidance note applies to all Jersey company directors, not only those in the financially regulated environment.
03/13/2023
Bank of Jamaica issues 'no objection' to Cornerstone’s reorganisation
The Central Bank also advised that the consolidation of Barita Finance Limited and MJR Real Estate Holdings Limited be pursued for prudential reporting purposes as a part of Cornestone's restructuring exercise.
03/13/2023
Athene likely tops creditors to failed Silicon Valley Bank
We cannot be sure if companies have bought or sold additional securities
03/10/2023
Compliance and Governance: The Cornerstones of Reputational Advantage
It’s interesting to note just how far the compliance, risk and governance conversation has come over the past decade since Jersey agreed that FATCA style agreement with the UK.
03/10/2023
Legislative and regulatory developments in Bermuda for Q4 2022
The work on modernising the laws on patents and registered designs is expected to result in two pieces of new legislation, instead of the current consolidated legislation and consistent with the current approach of the UK.