Managers of Wealth Offshore

Privacy and Data Breaches in the Cayman Islands

The first step in ascertaining as to whether or not the DPA is applicable to a Cayman entity is to establish if the entity is a data controller or a data processor.

Cayman Islands: The Virtual Currency Regulation Review

The Cayman Islands Special Economic Zone provides a simplified route to establishing a physical presence and employing staff in the Cayman Islands.

Concerns government isn’t engaging with businesses enough

In response, Mr Hooper explained that industry is ‘at the heart of the department’s decision making’ and it has plenty of communication.

Proposed amendments to SRA standards and regulations

The amendment specifies that bills and notifications of costs must be for costs that have already been incurred.

Luxembourg Budget Law 2023

Although the adopted tax measures do not represent any drastic changes or substantial reforms for individual or corporate taxpayers within the funds industry, they provide for useful clarifications and are worthwhile noting.

Ocorian achieves leading information security certification ISO 27001

Achieving this certification reflects our ongoing commitment to keeping not just our own data safe, but more importantly, that of our clients.

Central Bank reserves increased to $2.6 billion in 2022

Rolle noted that the foreign exchange markets continue to provide more quantifiable, real-time indicators of the country’s recovery.

Bermuda Cyber Risk Code Compliance Deadline

Each Relevant Legal Institution is also required to appoint a Chief Information Security Officer to oversee and implement its cyber risk programme and enforce the cyber risk policies.

Bermuda Insurance Code of Conduct: Conduct of Business and Conflict of Interest Policy Compliance Deadline

The remainder of section 8 of the Code of Conduct also requires compliance by 1 March 2023.

Time runs out for registration of overseas entities

OEs still needing to register under the new regime should contact us urgently for assistance to avoid further penalties applying.

Thousands of offshore companies miss UK property register deadline

List set up to tackle estimated £100bn of illicit financing often channelled through British real estate

Funds & Investment Management Update - Ireland and Luxembourg - Q4 2022

This quarter's highlights include the publication of the Central Bank of Ireland's consultation on proposed new prudential rules for UCITS ManCos and AIFMs with MiFID permissions

Isle of Man Financial Services seeks feedback from firms it regulates or oversees

The 2023 survey builds on the Authority’s commitment to delivering a responsive and effective regulatory service

CCJ orders bank to repay customer money transferred from its account without authorisation

Caye Bank offered Rosemore, as it did for all its customers, the use of its secure online banking portal to conduct online transactions and gave it two sets of unique credentials to access the online banking portal known only to Rosemore.

BML opens self-service banking ATM center in AA. Rasdhoo

The center houses a state-of-the-art multi-functional ATM

China and Barbados look to strengthen ties

Ambassador Xiusheng conveyed his appreciation of Barbados’ One China Policy, and Minister Symmonds gave the assurance that Barbados remains committed to this policy.

Minimum Wage increases proposed to Tynwald

The Department for Enterprise and Treasury have proposed the changes following consideration of the report and recommendations of the Minimum Wage Committee.

Cayman’s chances of getting off money laundering body’s “grey list”

This is done via teams of inspectors, including those from FATF-style regional bodies like the Caribbean Financial Action Task Force.

FIAU chairman Jesmond Gatt nominated to head MFSA board

Gatt set to take over from John Mamo

Raft of employment legislation changes to be included in new bill

DfE consultations to lead to reforms

Regulation, Risk & Compliance