02/25/2022
JT partners with Sky Mobile to protect customers from SIM-swap fraud
The service is already widely used by banks and businesses throughout the UK and around the world, providing additional security and peace of mind.
Regulation, Risk & Compliance
02/25/2022
NDAs in the Channel Islands – Enforcement, Limitations and Ethical Considerations
This would leave the employee with the choice of either bringing a claim in the Employment and Discrimination Tribunal, with all its attendant stress and uncertainties, or walking away from that claim.
02/24/2022
Maltese watchdog eyes powers to settle cases with individuals
There is no legal framework for regulator to enter discussions with those under investigation
02/24/2022
More change proposed to Jersey's AML regime: Are you Exempt?
The rationale for the application of certain current scope exemptions, which mean certain businesses do not have to comply with the anti-money laundering framework, was also identified by the MONEYVAL Report as a cause for concern.
02/24/2022
Some Factors for Financial Services Firms to Consider in light of the War between the Ukraine and the Russian Federation
All firms involved in investment in countries involved in armed conflict should also take care to ensure that investors are treated equitably, especially in terms of fair valuation and allocation of liquid and illiquid assets between investors.
02/24/2022
Offshore SPACs: Will Asia be next to witness the boom?
The recent revisions to the Hong Kong Main Board Listing Rules introducing the SPAC regime is an incredibly positive step forward in addressing the competitive disadvantage Hong Kong faced in attracting SPAC sponsors to the market, particularly from the d
02/24/2022
Bermuda to be put on EU grey list, report says
The EU groups countries into two lists depending on the level of co-operation and commitment to EU taxation standards.
02/24/2022
Cayman fund allegedly embroiled in 1MBD scandal
The petitioner, SRC BVI, was a wholly-owned subsidiary of 1 Malaysia Development Berhad (1MDB) and later under the ownership of the Malaysian Ministry of Finance.
02/23/2022
Removal of Mauritius from European Union List of “High-Risk Third Countries”
The removal of Mauritius from the EU list follows the delisting of Mauritius from the FATF List of Jurisdictions under Increased Monitoring on 21 October 2021.
02/23/2022
Channel Islands impose sanctions on Russian interests
"Any assets held in Jersey in relation to these individuals and financial institutions must be frozen without delay."
02/23/2022
Pre-IPO Employee Benefit Trusts: Advantages of Structuring in Guernsey and Jersey
A frequently-used way to secure loyalty and commitment is through a well-structured employee incentive scheme, and the employee benefit trust (“EBT”) has become one of the preferred preIPO structures to achieve this objective.
02/23/2022
Cayman fund allegedly embroiled in 1MBD scandal
About $112.5 million were withdrawn and paid to various third parties, the petitioners allege.
02/23/2022
JFSC: Feedback to Consultation on bank financial reporting and audit
The New Order would cover the appointment of auditors, prudential returns, declarations of compliance and the publication of financial statements. It would also provide a legal foundation for this reporting, which follows the approach used by other financ
02/22/2022
Taking a Jersey company private: Is there a new kid on the block?
Take private transactions in Jersey have frequently been implemented by members’ schemes of arrangement under Part 18A of Companies (Jersey) Law 1991 (CJL).
02/22/2022
'Lull' in affordable housing after no approvals in 2020
"We're having a lull in terms of new homes coming along because it's quite a long production line of getting land"
02/22/2022
Ogier introduces expansive family leave benefits
“We recognise how important time with family is and we want to increase the support we provide for our people to have families and to continue building their careers at Ogier."
02/22/2022
Sanctions Compliance - Key issues for Trustees and Financial Institutions
This rise in the use of financial sanctions poses particular compliance risks and below we explore some of the fundamental issues that arise for trustees and financial institutions in the Bailiwick of Guernsey in complying with the various Guernsey sancti
02/22/2022
The Cayman Islands, the EU AML list and the FATF grey list
There are few practical consequences arising from inclusion on the EU AML List although clients should be aware of the following.
02/22/2022
CIMA fines Lion Brokers $262,000 for AML failings
The group’s Cayman Islands’ subsidiary, Lion Brokers Limited, received its licence from the Cayman Islands Monetary Authority in September 2018.
02/22/2022
Bermuda National Pension Scheme, Occupational Pensions
Where we are now - the highlights