Managers of Wealth Offshore

Isle of Man bans fossil fuel heating in new buildings

Plans to move away from fossil fuel heating systems in new builds from 2025 were announced in 2020 as part of the consultation for the Climate Change Bill.

Trading Standards Ordinance to be enacted in October

Combined with proportionate enforcement powers, these provisions introduce a robust statutory framework of fair trading which will support the efficient operation of the retail marketplace, both on Guernsey and through online transactions.

Bermuda considers corporate income tax

Therefore it would be evident that Bermuda finds itself at a pivotal point and must consider how we can adapt to these impending changes to global tax rules.

AML/CFT guidance for registered directors

This guidance is being issued in draft form to allow for addressing any technical issues with the guidance which could hinder or prevent a registered director complying with their AML/CFT obligations.

Regulator puts Vesttoo collateralised insurer into liquidation

Israel-based Vesttoo, which at one point was valued at more than $1 billion, used artificial intelligence to match investors and cedants of insurance.

Saffery Champness staff member certified as ‘Carbon Literate’

The qualification gives people an insight into the science behind climate change and how businesses can mitigate their impact on the environment.

Ariel Re increases cyber capability with expanded partnership

This enables us to communicate more effectively with all stakeholders

The new JFSC outsourcing policy: are you in scope?

The Policy will apply to a broader range of regulated entities and includes updates to take account of Jersey’s evolving regulatory framework.

The countdown is on! An update on the new Guernsey Discrimination Law

The guidance notes are easily accessible on the Employment and Equal Opportunities Service website and this update is intended to serve as a brief overview of what's addressed and what employers need to be doing to ensure that they are ready.

From the Bench: When a creditor challenges a debtor's acts as fraudulent

Companies' restructuring, change of ownership and transfers impacting loan conditions

Appleby Continues to Expand Its Asia Offering

Hannah is a native Mandarin speaker and fluent in English.

Premier asks banks to do more to protect borrowers

The US prime rate, which local banks adopt as the Cayman Islands’ lending rate, is 3% above the Federal Reserve Rate – so is now at 8.5%.

Distillery law could help create new jobs, says Gosling’s

Mr Gosling said that right now Gosling’s rums are distilled overseas and shipped into Bermuda to be aged and blended.

CIMA’s rules and statements of guidance – update 2023

The Rules apply to various types of regulated entities in the Cayman Islands, rather than just regulated funds.

Shake-up at the top of Vesttoo over growing scandal

But a brewing scandal, which has brought an FBI investigation could lead to the ouster of company co-founders.

Commission granted leave to appeal

The Commission has been granted leave to appeal the judgment of LB Marshall KC in the case of Domaille, Clarke & Hannis and the Guernsey Financial Services Commission.

Landmark regulation case heading for appeal

She has granted leave to appeal in a case which will continue to be watched by industry, saying that there will be a public interest case in many of the issues raised by the commission.

Insurers insist they cannot give contractors annual insurance policies

Insurance association insists there are 'extremely valid reasons' for its position

Fitch: Prudential financial transactions to have favourable longer-term impact

The block of business represents approximately one-third of Prudential’s in-force guaranteed universal life statutory reserves.

FirstCaribbean to raise interest rates on borrowing again

CIBC FirstCaribbean noted that any customers that have queries should contact their Branch or Relationship Manager.

Regulation, Risk & Compliance