11/03/2022
Clarien Bank increases base lending rates
That was following an increase in the Bermuda dollar base rate for personal mortgages and the rate for commercial mortgages on June 1.
Regulation, Risk & Compliance
11/03/2022
Bermuda Insights: Regulatory & Risk Advisory
The Notices permitted entities to make representations to the ROC for the ROC to decide whether the actions taken by the entity are adequate to meet the economic substance requirements or whether further enforcement action is required.
11/02/2022
Private bank obtains Cayman licence
It can now offer services to HNW individuals residing in the region
11/01/2022
Jersey Aircraft Registry to close
The decision has no impact on commercial flight connections, and will not affect private pilots.
11/01/2022
NCB granted ‘Category A’ banking license in the Cayman Islands
NCBKY previously held a Category B banking licence in Cayman, since it was established in Cayman almost 30 years ago, which permitted only non-resident business.
10/31/2022
Bermuda needs NFT and blockchain policies, says entrepreneur
Bloktime uses non-fungible tokens to help brands authenticate products and increase revenue over multiple cycles.
10/28/2022
Staff poaching and wage inflation causing problems for employers
The States confirmed this week that RPI has reached 7.9% - almost double what it was a year ago.
10/28/2022
Insolvent Trusts: the Order of Priority is……
There were insufficient funds to meet the claim, let alone those of other creditors.
10/28/2022
Guernsey introduces a summary civil forfeiture procedure: what does this mean for trustees?
The summary procedure will apply where assets in a Bailiwick bank account have been the subject of "no consent" for at least a year.
10/27/2022
Government sources reportedly say scheme is ‘dying’
But the government expects to make less than half by the end of this year – around €30m – and even less in 2023, with a forecasted revenue of €20m.
10/27/2022
Price control amendments to take effect November 1
Halkitis warned that there will be various penalties for non-compliance, but expressed that the government will not be coming down with a “heavy hand”.
10/27/2022
MFSA warning about unlicenced entity
Quickx or CNexchnage not licensed to provide financial services
10/27/2022
Conister Bank applies for UK branch banking licence
This application is a significant milestone in our banking subsidiary’s UK expansion strategy.
10/26/2022
Highlight on the Mauritius FSC Communique on updates to the AML and CFT Handbook 2020
Recent amendments made to the Mauritius AML and CFT Handbook in relation to authorised certification and independent audits.
10/26/2022
Jersey Company Law Series – Demergers
A Demerging Company may also survive, if desired, as a separate entity, being known as the “Survivor Company”.
10/26/2022
Caribbean Development Bank head proposes new trade deal for developing countries
The meeting is seeking to respond to the agency's renewed mandate to assist SIDS by addressing their specific vulnerabilities, building resilience and promoting structural economic transformation and productive capacities.
10/26/2022
ECCB Governor, Gonsalves support Bahamas PM on Blacklisting position
Davis, while addressing the 71st United Nations General Assembly, took the Union to task, pointing out that there is growing evidence that the EU discriminates against black economies and those of former colonies.
10/25/2022
Affordable housing “discrepancy” delays Leale’s Yard OPM
A new target date of November 16 has been set for the Leales Yard open meeting, but Deputy Oliver added this date is dependent on the arbitration finishing.
10/25/2022
CIG still working on automation of work permits
Saunders outlined the goal of a system where accredited employers with a clean bill of health would be assisted by an automated system that would be much faster.
10/25/2022
Vincentians can now use credit and debit cards to pay for gov’t services
St Vincent and the Grenadines (SVG) Government implements E-Payment Services