Managers of Wealth Offshore

MFSA issues warning about three different online entities

Two of those companies appear to be clones of legitimate ones, with the third appearing to be an unlicensed entity.

Jersey employers take note: statutory redundancy and minimum wage increases

Redundancy: increase in the maximum statutory redundancy entitlement

ESG/Sustainable Investments - How Jersey Law is Adapting to Fight Greenwashing

The Investment Business Code of Practice will also be similarly updated in due course.

Guernsey to tighten CRS and Fatca reporting

As online registration becomes mandatory for all financial services firms

Fiscal strategy report “broadly compliant” but issues over data quality and availability exist, notes council

The extent and quality of the sourcing of data are considered material deficiencies, notably the lack of national statistics for domestic income projections, including domestic income forecasts by its components.

Head sought for bank failure watch group

Jill Britton, JFSC Director of Supervision, commented: “As the regulator, our role is to supervise banks, making sure they are operationally sound and minimising the likelihood of failure.

Guernsey Bar hopefuls continue virtual attendance at University of Caen

Importantly, not only were all local firms and employers of aspirants supportive of the solution offered by Carey Olsen but the University of Caen and lecturer Sophie Poirey were equally pleased and excited to embrace the new Caen experience.

Irish Regulatory Framework for Real Asset Depositaries

It sought feedback from industry on the proposed regulatory framework and earlier this year issued its long awaited guidance1 on the regime.

Jersey employers take note: statutory redundancy and minimum wage increases

This is an entitlement enshrined under the Employment (Jersey) Law 2003, as amended and is an obligation imposed on all employers to pay to their employees in the event of redundancy.

Isle of Man FSA bans two directors from regulated activity

The directors of IF Ltd, Mr Christopher Stirk and Mr Christian Burton do not hold the requisite licences in their own names to undertake any regulated activities in or from the Isle of Man or hold themselves out as doing so.

INSOL Channel Islands Conference 2021 – Round-up of key points

The seminar, which provided a welcome opportunity for insolvency practitioners and advisers to reconnect in person, showed why Jersey and Guernsey remain leading locations for structuring complex financial transactions and for the secured lending market.

Financial Stability Board consultation

The proposals involve providing the FSB with legal gateways and duties to enable it to operate more effectively

UBS notes postponed verdict in 4.5 bln euro French tax case

UBS noted a decision by French judges to postpone their ruling on the Swiss bank’s appeal against a 4.5 billion euro ($5.27 billion) fine imposed for helping wealthy clients stash undeclared assets offshore.

Irish Regulatory Framework for Real Asset Depositaries

The Central Bank’s guidance states that a DAoFI may only be appointed to act for authorised AIFs which are qualifying investor AIFs

The Financial Services Commission of Mauritius issues the Financial Services (Crowdfunding) Rules 2021

In effect, the Crowdfunding Rules legitimate the operation of a crowdfunding platform in Mauritius and provide for its modus operandi.

Under examination: BVI and Cayman regulatory inspections

They also allow for jurisdictions and products to remain competitive and attractive to clients who are looking for reliable

Central Bank of Ireland Review Identifies Market Abuse Deficiencies

In July 2021, the CBI issued a Dear CEO Letter (the "Letter") setting out its findings and expectations arising from the review.

BVI Commercial Court guidance on adverse inferences relating to the non-disclosure of lawyers' documents

The Claimants formed a consortium with CPE Fund Management Limited and on 7 December 2020, made a non-binding offer to acquire all outstanding shares of the Company for $15.47 per share (the Proposal).

Guernsey introduces new compliance measures for CRS and FATCA reporting

This briefing note provides a summary of those strategies and will be of interest to those operating in the finance industry and compliance sector.

Collas Crill Explains... Changing the Proper Law of a Guernsey Trust

Consequential amendments – most provisions that allow for the proper law to be changed also allow consequential amendments to be made to the trust instrument when the power to change the proper law is being exercised.

Regulation, Risk & Compliance