Managers of Wealth Offshore

Chambers Corporate M&A 2022 Global Practice Guide – Trends and Developments, Cayman Islands

Learn more about recent trends and developments in the Cayman Islands

Government of Belize following through with plans to raise minimum wage to $5; launches call for consultancy services proposals

Тhе mіnіѕtrу аddеd thаt thе соnѕultаnt іѕ ехресtеd tо ѕtаrt wоrkіng durіng thе mоnth оf Арrіl 2022 аnd соnсludе thе ехеrсіѕе аt lеаѕt, bу Осtоbеr 2022.

Bedell Cristin is shortlisted for Offshore Law Firm of the Year at Chambers Europe Awards 2022

The awards recognise achievements of law firms based on research for the latest edition of the Chambers Europe guide (2022).

Reclaiming Lost Ground’: Gov’Ts Digital Asset Plan

Pledging to work with the Central Bank and private sector to enable Bahamians to invest in digital assets using Bahamian dollars

ABIR opposes S&P’s ‘disruption’ of senior debt

S&P has requested comments by April 29 on its proposed methodology and assumptions for analysing the risk-based capital adequacy of insurers and reinsurers.

Updated Consolidated AML/CFT Handbook to capture change in legislation for imposing civil financial penalties

The changes to the Handbook are purely administrative in nature.

Central Bank of Ireland makes changes to controlled function roles for financial firms

The CBI has also created another new standalone role, that of head of anti-money laundering and counter terrorist financing compliance (PCF-52). This is in addition to the existing role of head of compliance (PCF-15).

Cyprus announces expansion of responsibilities of the Financial Sanctions Advisory Committee

The examination of requests in relation to the wrongful freezing of funds at credit institutions.

Snapshot: Cayman Islands Court of Appeal clarifies test for security for costs in context of recovery claims by official liquidators against former management

The Court was satisfied that its conclusion "involves no element of prejudgment on the substantive issues raised in the proceedings" and overturned the decision on appeal.

HSBC introduces ‘Quiet hour’ in branches to support customers with sensory needs

Staff will be available in the branch during that hour but won’t proactively approach customers in order to keep noise to a minimum.

3 Simple Steps to Creating an Evergreen Compliance Strategy for Islamic Funds and Structures

The average multinational financial services firm spends hundreds of millions of pounds on compliance each year.

General Court decision in Gibraltar State aid case

The General Court partially annulled the State aid decision issued by the Commission, in so far as it relates to individual aid granted to the plaintiff, based on a tax ruling, for the period 2014 onwards.

Establishing A Regulated Fintech Firm In Ireland

This includes project management, application submission and support, and regulatory advice.

Snapshot: Cayman Grand Court considers section 238 valuation date and impact of PRC laws on discovery obligations

At an initial directions hearing, the Court was required to determine inter alia

Enforcement Guidelines and administrative fines – CRS and economic substance

The TIA will exercise its enforcement powers in a manner which is reasonable, transparent, lawful, rational and proportionate.

16 charged by US over $194m complex investment scam across 3 continents

All of the investigations received assistance from the SEC’s Office of International Affairs

Nearly £3m of employers' payroll 'overclaims' still to be repaid

70% of repayments were made within 30 days, 90% within six months and 2% after one year or more.

BWCI welcomes secondary pensions policy letter

This will provide the basis for a more comfortable retirement for the large number of Guernsey employees who do not currently have the benefit of an occupational pension arrangement.

BMA launches data call on sanctions against Russia

Registrants are to disclose their exposure to the ongoing events between the Russian Federation and Ukraine and provide details on the impact these events have had on their assets and underwriting as of 31 March 2022.

Cayman Gov’t sets October deadline to seal financial deal on ReGen

Energy recovery facility projected to be commissioned in 2026

Regulation, Risk & Compliance