Managers of Wealth Offshore

Bahamas Central Bank Looks to Phase Out Checks

This project follows discussions last year with the country’s Ministry of Finance and Clearing Banks about reducing the use of checks and cash in the Bahamas over the next five years.

MFSA slams the brakes on company for ‘ultra-rich’

Chris Cardona-linked Insignia Cards ordered to restrict its operations

Offshore Perspective: Updates to HK Listings Rules

The Core Standards are intended to be applied in a unified manner across all listed companies, and so derogation from any of the Core Standards will not ordinarily be available.

Joint consultation with Government of Jersey on anti-money laundering exemptions

The proposals will mean that several Island businesses that are not currently subject to registration or notification requirements will need to register with us, or notify us about their activities in the future.

St Kitts and Nevis' Visa-Free Agreements and Diplomatic Partnerships Reach Historic Height

These partnerships have moved St Kitts and Nevis ahead of Mexico and Israel, leveling with Barbados for the number one passport in the Caribbean region and 24th globally.

The Bahamas Update

The Bahamas is Compliant with 18 Recommendations and Largely Compliant with 20 Recommendations, positioning the country in the top tier amongst FATF and FATF-Style Regional Body global network.

Guernsey and Jersey Joint Guidance on Economic Substance and Partnerships

Both Guernsey and Jersey implemented legislation extending economic substance to partnerships earlier this year.

Walkers Fundamentals White Paper 2021 – Regional Update: Europe

There has been strong Cayman hedge fund activity in the London market in 2021, notwithstanding the macro uncertainties continuing from 2020.

Fidleg what portfolio managers need to know

The changes have wider implications for many businesses

OECD Update on Future of Global Taxation is Welcomed

The Model Rules relate to Pillar Two of the solution and expand on previous announcements by both the G7 and the Inclusive Framework in July and October this year.

Country Financing Roadmap for the SDGs: Saint Lucia

The Saint Lucia CFR report is the result of multistakeholder discussions with experts, thought leaders and representatives from more than 50 institutions, including public-sector institutions, development finance institutions, banks, private-sector invest

Offshore courts' approach to liquidation in the face of arbitration agreements

As matters stand, the BVI courts will not stay or strike out insolvent winding up applications in favour of arbitration unless the respondent demonstrates that there is a genuine dispute as to the matter giving rise to the insolvency

New Listing Regime for Special Purpose Acquisition Companies (SPACs) in Hong Kong

As an effective safeguard to preclude retail participation, SPAC securities are required to be traded in a minimum board lot size of HKD1 million per lot.

Financial Services Policy Framework published

The Minister for Financial Services, Senator Ian Gorst, said: "Our core purpose in updating the policy framework has been to secure the future growth of the financial services sector and to ensure that it continues to be the engine of our economy.

MSG fined £1.5 million for anti-competitive non-compete clauses

The GCRA considers that this conduct had the potential to obstruct its investigation.

Cyprus revamps temporary permissions regime for British firms

Regulator set up the scheme in December 2020

Mauritius: Key legislative amendments to make the banking and finance sector more attractive to investors

The objective of the amendments is to strengthen the development of key sectors, such as innovation in terms of fintech and regtech.

Breathing new life into London listed SPACs - Guernsey's role

As a result, investors will remain free to buy or sell shares in the SPAC and can get a return of their capital, in full, if they do not support the acquisition.

Changes to 2021-2022 banking fees following consultation

Relevant businesses will receive notification via myJFSC that an invoice is ready for them.

Proposal to Amend the Alternative Investment Fund Managers Directive - A Closer Look

What follows is a brief overview of some of the key proposed amendments to AIFMD described in the EC Proposal.

Regulation, Risk & Compliance