Managers of Wealth Offshore

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.

Last chance! Deadline looms for the UK's new register of overseas entities

Beneficial owners will be registrable if they are individuals, legal entities, or governmental authorities.

Advice firm surrenders licence just two years after launch

The business was set up by Rob O’Connor and Chris Connor.

Bank of Jamaica emphasises confidence in financial system

Bank of Jamaica continues to monitor the developments in the financial sector closely to ensure the soundness and stability of the financial system.

Bermuda fifth highest in corporate penalties

According to the Good Jobs First Violation Tracker website, Signet received a $175,000,000 fine in an employment-discrimination suit.

New insurer formations reach new highs in Bermuda

Of the 2022 total, 80 are insurers and four are intermediaries, the highest number of insurers since 2013, when 91 were added to the BMA’s books.

Buyer beware! Stamp duty increase introduced on the purchase of second homes in Jersey

The 3% stamp duty rise also applies to residential leases for a term greater than nine years (contract leases), where the property will not be the tenant's main residence.

Time's running out for registration of overseas entities

Collecting the necessary details, notifying beneficial owners and arranging verification takes time and it is critical that OEs take action now to avoid penalties.

Saffery Champness completes acquisition of Holdun Trust (Cayman) Limited

The combined business will operate as Saffery Trust (Cayman) Limited.

Land Transaction Tax (LTT) - New Concessionary Guidance Issued for Share Transfer Purchases in Jersey

At this stage, this guidance only applies to share transfer properties (generally, apartments or parking spaces) where LTT is payable.

China and Trinidad and Tobago seeking to strengthen trade and investment relationship

They agreed on a work plan of activities to increase Trinidad and Tobago exports in Asia

Key Developments & Latest Trends in the Fintech Sector in The Bahamas

From a central Government policy perspective, the Government of The Bahamas (the “Government”) published a Policy White Paper on The Future of Digital Assets in The Bahamas

BVI Approved Managers: Upcoming Filing Deadline - 31 January 2023

BVI Approved Managers are required to file an annual return with the BVI Financial Services Commission (the "Commission") by 31 January 2023 in respect of the preceding year pursuant to the Regulations.

HMRC to impose controls on tax repayment agents

HMRC has published its finalised policy on enforcing higher standards on tax advisors, including reforms to the currently unregulated repayment agent sector.

Channel Islands 'vision' to address £1.5bn public services bill

Its work suggested that States of Guernsey and States of Jersey spending on services could top a combined £2bn by the end of the decade.

Time is running out - The Economic Crime (Transparency and Enforcement) Act 2022

If you believe that the Economic Crime Act applies to you, now is the time to take steps to ensure that you comply by the deadline of 31 January 2023.

Regulation, Risk & Compliance