Managers of Wealth Offshore

Ombudsman fights data breaches

It provides a legal framework to ensure any breaches are punished and it’s a role that falls to Ombudsman Sandy Hermiston and her team, who take this function very seriously.

Jersey Court declines to follow Bermuda Court on the role of protectors

The Court also commented that full and open discussion is expected between trustee and protector

Apex Group closes acquisition of ARM Swiss Representatives

ASR’s integration into the Group will enable clients to benefit from Apex’s international footprint

Caribbean Regulatory Update - Q4 2021

The Financial Investigation Agency Act, 2003 has been amended to enhance the FIA's supervisory powers in relation to financial institutions

Cayman Islands funds: economic substance notification filings for partnerships

Notwithstanding this expansion, an investment fund structured as a Cayman Islands exempted limited partnership is exempt from the requirement to meet any economic substance test in Cayman

Administrative fines: The process and possible responses

In this Update, we examine the administrative fines process and the steps that can be taken in response to a breach notice.

Guernsey's new bespoke private wealth structure

Trusts have long been the “go to” structure for the holding of family wealth for its protection and for passing it on to future generations.

GFSC: Revised rules, codes and guidance

The new and amended laws also aim to eliminate inconsistencies between the regulatory laws which should help to create efficiencies for industry and the Commission.

Luxembourg: New Performance Fee Declaration

The declaration will be available from 30 September 2021 for all funds with a July to December 2021 financial year end and from January 2022 for all funds with a January to June 2022 financial year end.

Take privates by way of a scheme of arrangement in the Cayman Islands

A scheme of arrangement is a compromise or arrangement made between the target and its shareholders

Fund finance: Guernsey perspective and updates

Often an acceptable approach is for a notice to be delivered to the corporate administrator acting for and on behalf of each investor

DeFi, DAOs and VASPs in the Cayman Islands

The industry interpretation of these regulations is such that a private sale would therefore not constitute a sale to the public.

The BVI Common Law After Broad Idea

Although it is the usual situation, there is no requirement that the judgment should be a judgment against the respondent.

A “sea change” in attitudes towards third party litigation funding in Jersey

These old offences of champerty and maintenance were first decriminalised in England in 1967.

FATF - Consolidated assessment ratings

FATF and FSRBs conduct peer reviews on an ongoing basis to assess how effectively their respective members' AML/CFT measures work in practice

Swiss Wealth Manager Urges Against Condemning the Wealthy in Response to Pandora Papers

Ralf Rickard Danbrandt of Ibex Capital Partners says the leak unfairly punishes innocent people and stresses that holding assets offshore is not illegal.

Central Bank in talks with RBC over move to discontinue issuance of $20 bills

As reported by Eyewitness News, the bank’s decision sparked major backlash on social media last week as many customers expressed their outrage and disapproval over the move.

Fund finance: Guernsey perspective and updates

Often an acceptable approach is for a notice to be delivered to the corporate administrator acting for and on behalf of each investor and the general partner of the fund to upload the investor notice to the fund's investor portal, and to then provide

What the Pandora Papers Reveal About Offshore Wealth

Using avenues not available to most people, they park money in trusts, shell companies and holding companies established in jurisdictions that typically offer low taxes and a high level of anonymity.

Malta Shouldn’t Bend Knee To FATF And Take Money Laundering Cases To The Extreme, Franco Debono Warns

Indeed, he noted that both PL and PN governments have previously launched schemes to incentivise people to regularise their tax positions.

Regulation, Risk & Compliance