Managers of Wealth Offshore

Walkers Global Fintech Group Attains Chambers Band 1 Rankings Again

The firm has fintech specialists across its 10 offices spanning the Americas, Europe, Asia and the Middle East.

Regulator warned 127 on financial crime compliance

The revelations came in a Compliance Commission report that concluded The Bahamas was “unlikely” to be “a real estate-based money laundering centre”

UAE: St Kitts and Nevis to enhance citizenship by investment programme

Caribbean country invites investors to benefit from, 'cash in on' opportunities in diverse sectors, especially renewable energy

ECJ Rules Public Access to Beneficial Ownership Information Invalid

The introduction of publicly accessible Ownership Registers gave rise to concerns from an invasion of privacy perspective.

TrustQuay signs technology agreement with Perpetual Guardian

Having been in business for more than 135 years – and with offices around the country servicing over 140,000 client relationships – Perpetual Guardian has unsurprisingly amassed a complex and varied landscape of legacy software.

Mastercard and Vesta enhance fraud management

The two organisations are joining forces to not only meet merchants’ security needs but also address a broader effort to enhance the consumer’s digital experience and strengthen their trust in e-commerce.

Newpoint sues BMA for ‘rejecting acquisition of Citadel Re’

The BMA rejected its application on 30 September.

Barbados joins IOM

The IOM works to help ensure the orderly and humane management of migration; promote international cooperation on migration issues

Tax amendments incoming

The plans include introducing GST at 5%.

VBL Group enters new phase after securing financing from Bank of Valletta

Accelerating the conversion of dormant assets into revenue generating ones

BOB triples value of loan recoveries

This credit loss expense was $5.3m or 45.28 percent lower than the prior fiscal year primarily due to efforts on remediation and improvement of loan status and recoverable values.

Central Bank shift in govt securities policy lauded

The Central Bank announced in a statement that it will create a savings bond for small investors that is expected to launch in April 2023

Malta shuts door to beneficial owner registry as EU Court invalidates rules

Malta Business Registry follows suit after European Court of Justice rules that public access to the beneficial owner registry was an interference with privacy rights

Guernsey funds legal and regulatory update

An overview of Guernsey funds legislative and regulatory developments for the period 1 September to 30 November 2022.

Bankman-Fried admits that he prioritised Bahamian withdrawals

“This was us trying to create a regulatory pathway forward for the exchange just to like kind of appease the citizens of the country that we’re currently in.”

Communiqué of 103rd Meeting of the ECCB Monetary Council

While global inflationary pressures are expected to ease by the end of 2022 (the pace of price increases is expected to slow), the overall price level is expected to be substantially higher than it was pre-pandemic.

Parliament approves amendment to VAT Regulations

The Vat Added Tax (VAT) Regulations will allow customs officers to accurately classify and apply duties to items coming into SVG under the 2022 Harmonized Commodity Description and Coding System.

BankClarity Partners with Moneycorp to Deliver Global FX Purchasing Power and STP of Cross Border Payments

Specifically, the agreement will hugely benefit global providers of administration services to international corporations, trusts and funds.

Bahamas attorney general attacks 'gross oversimplification' of FTX blame critics

Any attempt to lay the entirety of this debacle at the feet of The Bahamas because FTX is headquartered here would be a gross oversimplification of reality.

Cayman Islands: Year-End Obligations

Under the ES Act, a late penalty filing fee of US$6,098 can be imposed together with an additional penalty fee of US$610 for each day an ES Return remains outstanding.

Regulation, Risk & Compliance