Managers of Wealth Offshore

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

United we stand

It is important to understand that our laws are not the same as those in the UK and our courts are not generally required to follow their decisions.

Apex Group to acquire Bank of America Irish depositary business

Apex Group’s existing depositary services delivered by EDB, support a range of regulated fund types, underpinned by top-tier technology and workflow systems.

Poll: Support for alternative plans

By contrast - support for the amendments laid by Deputies Charles Parkinson and Liam McKenna and Deputies Heidi Soulsby and Gavin St Pier was split at around 40% each.

Virtual Assets Service Providers Act enacted in the BVI

The registration requirements and continuing obligations are designed to ensure that service providers in the BVI operate in a prudent manner

'Pause’ payroll tax changes, say businesses

There would be an increase in the taxable cap on individual incomes from $900,000 to $1 million

Treasury confirms it was warned about Safe Hands ahead of collapse

The collapse came after around 46,000 people paid as much as £4,195 each to Safe Hands before it went bust.

New compliance and regulatory updates for Bermuda

The BMA is enhancing the annual AML/ATF Data Call submission process via a web‐based portal, which requires dual‐factor authentication and includes database encryption to advance efficiency and efficacy.

Unanimous support for four-day week trial at Law At Work

Heidi Gibaut, Group Managing Director of LAW, and her team were keen to see whether it would work, what difficulties would arise and what benefits it would bring.

New security features introduced for Guernsey banknotes

Guernsey is an ideal location to introduce new technology due to the nature and size of the circulation

GFSC publishes final Lending, Credit and Finance rules

The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 was approved by the States of Deliberation, the States of Alderney and the Chief Pleas of Sark in July 2022.

Regulation, Risk & Compliance