12/14/2022
Privy Council restores rights of trust beneficiaries
The combination of charitable and non-charitable purposes in a trust of this sort is allowed under Bermuda law.
Regulation, Risk & Compliance
12/14/2022
Securities Commission of The Bahamas Addresses Misstatements In FTX’s U.S. Bankruptcy Case
The Commission holds those assets as trustee only (under Bahamian Law), and they will be ultimately distributed, to creditors and clients of FTX, wherever they may be located, in accordance with the court’s direction.
12/13/2022
Deadline to apply for payroll tax relief is Thursday
Those earning less than $60,000 per year will receive $250 and those earning between $60,000 and less than $96,000 will receive $100.
12/13/2022
Bermuda: Minimum wage set to be introduced next June
Enforcement officers will be able to investigate business records to ensure compliance and employers found to be in default will face financial penalties.
12/13/2022
Cooper touts “revolutionary” National Investment Funds Bill
Cooper noted that the legislation will ensure that investments and private share holdings of the government are managed professionally for the long-term benefit of the citizens of The Bahamas.
12/12/2022
MPs have high praise for the Bermuda Monetary Authority
Bermuda is far above other countries, and other countries are continuously copying what Bermuda is doing.
12/12/2022
Amendments to Guernsey's Insolvency Law 2022: The Annotated Guide
Reform of Guernsey's insolvency regime has long been discussed and a process of reforming the Companies Law to expand and improve the insolvency legislation has been underway leading to the 2017 formal approval of proposals for reform.
12/12/2022
Changes to Guernsey's insolvency regime in force from 1 January 2023
Exempt companies in liquidation from the requirement to have their accounts audited.
12/09/2022
BVI Voluntary Liquidations Now Require a Locally Resident Voluntary Liquidator
The BVI residency requirement for a voluntary liquidator applies for appointments made after 1 January 2023 and in cases where joint voluntary liquidators are appointed, only one must be resident in the BVI.
12/09/2022
New disaster risk management bill seeks to ‘right the wrong’
Cooper slammed the Minnis administration’s response to Hurricane Dorian while making his contribution to the debate on the Disaster Risk Management Authority Bill in the House of Assembly.
12/09/2022
Cayman Islands Monetary Authority fines Artex
The Authority reminds licensed Insurance Managers of their ongoing legal obligation to report any unauthorised material change in the business plan of an insurance company under their management and any other instances of non-compliance with legal and reg
12/08/2022
Contracting with segregated portfolio companies — what any lender should know
The priority position with respect to the security will relate only to the specific segregated portfolio and will have no bearing on that of any other segregated portfolio.
12/08/2022
Preferred, professional, pragmatic
The depth of the knowledge, expertise and experience of service providers here is world renowned.
12/08/2022
Credit Suisse attempts to get $550m payout ruling overturned
Chief Justice Narinder Hargun had estimated that Credit Suisse Life Ltd, a Bermuda-based subsidiary of Credit Suisse, defrauded the Georgian billionaire Bidzina Ivanishvili, his family and two related companies of about $600 million.
12/07/2022
Guernsey Listed Funds
Guernsey's companies law includes many English companies law principles
12/07/2022
Cayman diligently carving a path to FATF compliance in 2023
One concern is the virtual assets' space, including the virtual and virtual asset service providers.
12/07/2022
Trouble in paradise: Bahamas fears FTX crash could hurt its rep
The previous Bahamian administration, led by prime minister and finance minister Huber Minnis, launched DARE with great pomp and confidence.
12/06/2022
ADB approves $7.51million grant to Maldives to support gender equality project
The grant will support innovative gender approaches, which have a catalytic role in changing social norms and discriminatory practices.
12/06/2022
HSBC Malta slapped with €82,000 fine by money laundering watchdog
The FIAU highlighted incidents when high-value transactions went unnoticed by the bank's system
12/06/2022
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.