08/12/2022
Deputies receive pay increase for first time in two years
The practice of increasing States Member’s pay in line with inflation was agreed to by the previous assembly and would usually come into effect in May.
Regulation, Risk & Compliance
08/12/2022
JFSC fines Lloyds Bank Corporate Markets Plc, Jersey Branch (LBCM, Jersey Branch) for regulatory and AML/CFT breaches
The JFSC accordingly places great importance on registered persons identifying correspondent banking relationships
08/12/2022
BMA’s mandate to include conduct of business
The passing of this amendment provides the BMA with the express mandate and powers to provide a new avenue of protection for customers
08/12/2022
Saint Kitts increasingly the program of choice for wealthy investors in citizenship by investment
St. Kitts & Nevis does not impose foreign income, capital gains, wealth, or inheritance tax on its citizens.
08/12/2022
Central Bank Publishes Outsourcing Register - Submission Requirements
The latest advisory from Walkers' Asset Management & Investment Funds Group explains the scope of the rules, reviews the guidance notes, and sets out the key deadlines.
08/12/2022
The Wait is Over - The Jersey LLC is Arriving
Following the registration by the Royal Court of Jersey of the Limited Liability Companies (Jersey) Law 2018 (LLC Law) there has been extensive consultation and preparation to support the establishment of limited liability companies in Jersey.
08/11/2022
Skipton updates saving offerings as bank base rate rises
The new products include a fixed rate product, maturing September 2024 at 2.7% and a fixed rate product maturing September 2023 at 2.4%.
08/11/2022
The rise & rise of financial services regulation & its enforcement
Together with the demand for increased transparency with respect to the financial affairs of the wealthy with a view of securing higher domestic tax revenues, especially post the global financial crisis, these suspicions have manifested in ever increasing
08/11/2022
Australia and the People's Republic of China now part of Luxembourg's third country regime for investment services
The change follows new regulation issued on 20 July 2022 by the Luxembourg Financial Sector Supervisory Authority
08/11/2022
Enstar unit buoys Argo with loss portfolio transfer
The closing of the transaction is subject to regulatory approval and other closing conditions and is expected to be completed in the second half of 2022.
08/10/2022
Elliot Refson featured in PERE’s Fund Domiciles and Regulation Keynote Interview
Additionally, looking to the future, the interview covers what Jersey as a jurisdiction is doing to adapt to a new era of digital assets and how the increased importance of ESG to investors will affect fund domiciliation decisions.
08/10/2022
Aspida Re partners with Texas life insurer
The partnership will improve National Western Life's product competitiveness, increase financial flexibility, and provide an opportunity for incremental earnings.
08/10/2022
Dirty money - The biggest policy failure of all
A paper Mr Littrell published on the enforcement of AML last year in The Bahamas had a section dedicated to biases in national AML risk assessments, which concluded that dirty money in aggregate is much more of a problem in white majority countries and fo
08/10/2022
Data privacy survey reveals Islanders more aware of protecting their data
Under the Law, individuals have rights over the use and processing of their data.
08/10/2022
Chambers Global Aviation Finance & Leasing Guide 2022
The Aviation Finance & Leasing Guide covers 28 jurisdictions
08/10/2022
EDPB's Approach to GDPR Fines
The Guidelines are intended to harmonise the starting point and methodology for calculating GDPR fines but not the outcome, as fines will depend on all the circumstances of the particular case.
08/10/2022
The Mauritius Finance Miscellaneous Provision Act 2022
The monthly retirement benefit is reduced from MUR 4,500 to MUR 1,000 for the months of July 2022 to June 2023
08/09/2022
HSBC reprimanded for missuse of Guernsey staff information
The Authority issued a reprimand to HSBC, which is a formal recognition of wrongdoing and one of the sanctions available under the local data protection law.
08/09/2022
Non-profit ‘tired of the run around’ from local commercial banks
“There is no set standard and I think the Central Bank needs to step in and make a decision on what the guidelines are and what the standard should be.”
08/09/2022
Hungary hits Ryanair with fine over inflation tax
Irish budget airline fined €766,000 for passing on Hungarian tax to customers