Managers of Wealth Offshore

Kenya to receive millions seized in Jersey to help fight Covid

When it came to splitting up their assets, Ms Njeri felt she was not getting her fair share.

Russia Sanctions: Reporting obligations in BVI, Cayman, and Anguilla

Bermuda was not included in the UKOTs to which the 2019 Russia-UK Regulations were extended.

Bahamas ‘Open For Business’ With Latest Covid Upgrade

The reality is that the lower the level, or better the upgrade, the better the situation for the tourism industry and it will certainly have a positive impact on group bookings as well as general tourism.

T-Bills Mutual Fund: Grand Court sanctions ground-breaking SEC resolution

The complaint stated that the two individuals, Ofer Abarbanel and Victor Chilelli, misappropriated investor funds by diverting these monies into shell companies in uncollateralized loan transactions in violation of the Fund's prospectus and in breach

Guernsey finances 'better than expected' despite Covid-19

"In terms of the bailiwick's continued response to Covid-19 and what that's meant for our economic performance"

Snapshot: what to know about transfers of shares under BVI law

There is no BVI legal requirement for the instrument of transfer to contain details of the consideration.

New lasting powers of attorney – international clients

For similar reasons, it can be advisable to have a Guernsey Will limited to Guernsey assets to avoid paying probate fees in respect of the worldwide estate and release Guernsey funds more quickly, to assist the family and administration in other locations

Guernsey and Jersey Employment: Post Termination Restrictions and What New Employers Should Consider When Bringing in New Talent

Post-termination restrictions are incredibly common in employment contracts for financial services businesses in Guernsey and Jersey.

Cayman Islands regulator notifies industry on Russia/Ukraine sanctions regime

Other sanctions lists (eg OFAC, EU, and UN) should also be considered and monitored by all FSPs, VASPs and persons conducting business in the Cayman Islands as they may be relevant but aren’t legally binding in the Cayman Islands.

Commissions add UAE to AML/CFT Handbooks

Zimbabwe remains in Appendix I as it is listed by other relevant external sources.

OECD requests comments on reporting framework for crypto-assets and amendments to CRS

The OECD announcement indicates that the CARF would cover “crypto-assets that can be held and transferred in a decentralised manner

FIAU fines firm €94,000 over lax money laundering checks

N Trust was fined following a review earlier this year

FATF Publication on ML/FT risks arising from Migrant Smuggling & FATF Public Statement on the situation in Ukraine

The FIAU strongly encourages subject persons to consult this publication which is accessible on the FIAU website.

Demystifying the Mauritius Trust: Insight, Concept and Residency

Mauritius Trusts are governed by the Trust Act 2001 which lays out the regulations relating to the creation and administration of Trusts on the island.

MALTA: Submitting reports via goAML in line with regulation 15(4) of the PMLFTR

SPs were therefore requested to report a TRN for every pending transaction in addition to the STR/SAR.

Increased Crackdown on Citizenship and Residency by Investment Programs

A breakdown of three recent major developments.

Sanctions screening poses compliance challenge

Sanctions are also applied against North Korea over its nuclear weapons programme and against Iran for its nuclear enrichment activities.

Alderney power price cap to be kept 'as long as possible'

Diesel is the fuel for Alderney's power station and kerosene is the fuel most people use to heat their homes.

Ask the Business Coach: Any ideas on how to deal with customer complaints?

Customers tell family, friends and colleagues when they have received a great customer experience, but they tell 3X more people when they have a terrible experience.

Navalny supporters claim Cayman superyacht tied to Putin

Crew members allegedly part of Russia’s security services

Regulation, Risk & Compliance