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.
Regulation, Risk & Compliance
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
10/25/2022
15.4% proposed fee increase for deposit taking business
The deadline for feedback is 22 November 2022.
10/24/2022
Cayman remains on “grey list” following FATF meeting on Oct 21
Cayman must address remaining strategic deficiencies identified by the FATF
10/24/2022
Belgian court orders company to repay millions to the Central Bank of Suriname
Clairfield filed a lawsuit against the Central Bank of Suriname in May 2020
10/24/2022
Cooper: $1.2 billion worth of investments approved for Exuma
While September has typically been a slow month for the country’s tourism sector, Cooper claims this past September has been very strong.
10/24/2022
Mikro Kapital appoints EDB for paying agent services
EDB will provide Mikro Kapital with paying agent services in issuing further bonds.
10/24/2022
Many jobs set to receive long term employment permits
This has the potential to help businesses combat recruitment challenges experienced since Brexit and the pandemic.
10/21/2022
Global Tax Proposal Gains Ground at UN as OECD Plan Falters
After years of stalled efforts, a new draft resolution submitted to the General Assembly calls for a global tax body that could set international tax standards and stamp out corporate tax dodging.
10/21/2022
“Discriminatory” amendment rejected – but Procurer says it wouldn’t have been unlawful
The Committee had previously warned that the amendment was “dangerous” and “discriminatory”, points later repeated throughout the debate.
10/21/2022
Jersey economic substance and withdrawal of COVID concession
Now that travel restrictions have been removed and isolation requirements have been relaxed, the Jersey Comptroller has withdrawn this concession.
10/21/2022
Public spending must start falling, says Saunders
The subsidy to CUC has so far racked up more than $5 million of public cash.
10/20/2022
New Regulatory Considerations for End of Year Liquidations
Under new guidelines handed down from CIMA, however, there is now increased clarity around the timing of the deregistration process.
10/20/2022
Revised proposals for South Hill announced
The reduced heights allow the buildings to nestle within the landscape of the hillside ensuring a more sensitive approach to this prominent location.
10/19/2022
Apex Compliance Solutions Quarterly Update - Cayman Islands
Regulated entities must ensure that their sanctions compliance programmes remain fit-for-purpose