Managers of Wealth Offshore

First licence secured for cannabis cultivation locally

The medicinal cannabis industry has been championed by Deputy Neil Inder, President of the Committee for Economic Development, as potentially an important economic sector for island.

LV to be run from tax haven after £530m deal: Private equity predator registers shell company in Jersey

Private equity firms often use complex webs of offshore companies in the Isle of Man, Jersey and the Cayman Islands to take advantage of lower taxation and disclosure requirements.

The third Annual Monitoring Report for the Island Development Plan has been published

The report also shows that there was a high rate of approval of planning applications in 2019 and 2020 (only 131 applications were refused out of 3,081 applications determined) and only 4 appeals against refusal of planning permission were decided during

Employment & Social Security engages with local pension providers following withdrawal of preferred supplier

Initial discussions have taken place with local pension providers, from which the Committee has determined that there is significant interest in providing the scheme.

MCE Insurance Company enters administration

The Gibraltar Financial Services Commission has announced that MCE Insurance Company Limited has entered into administration.

Guernsey: Will Guernsey's Regulated ESG Funds End Greenwashing?

This is often linked to the scarcity of data provided by portfolio companies – and highlights the need for them to work with asset managers on a consistent, pragmatic but ambitious approach to ESG.

CYPRUS: Latest amendments to Companies Law Cap.113

Section 361A is amended by reference to the Open-Ended Undertakings for Collective Investment Law and/or Alternative Investments Law.

Transforming a black swan into a phoenix the British Virgin Islands’ solution to standalone injunctive relief

Dispute Resolution International is distributed to all members of the IBA Dispute Resolution Section, giving it a readership of approximately 4,000. It is published twice a year and was launched in May 2007.

Lloyd’s head meets Bermuda industry leaders

Lloyd’s of London CEO John Neal was in Bermuda this week meeting regulatory and insurance leaders.

Credit Suisse's Settlement Under Scrutiny

Credit Suisse settled tax fraud allegations with the U.S. Justice Department (DoJ) for $2.6 billion.

Jersey aims to build ties with Oman

The Minister also met with the Central Bank of Oman, the Ministry of Finance and the Tax Authority of Oman to "discuss how to develop the Oman-Jersey relationship in a number of areas.

Guernsey linked to thousands of UK property ownerships

THE legal ownership of thousands of properties in the UK has been linked to Guernsey by new research.

EU formally adopts public CbC reporting

Subsidiaries or branches below the revenue threshold also will be required to publish their tax information if they are deemed to exist only to help the group avoid the new reporting requirements.

Reaching out for regtech

Despite all these challenges, there are ways of phasing in regtech so organisations aren’t overwhelmed by the transition.

In Brief: Guernsey Employment Law – Autumn 2021

The Population Management Office is continuing to encourage individuals and businesses to get in contact with them if they or their employees are reaching their limit under a Population Management Permit.

Bermuda to provide a new framework to obtain permanent residency

The changes come into force effective 1 December 2021 and the Department of Immigration will begin to accept applications for Permanent Resident Certificates (PRC) pursuant to the new provisions as of 1 January 2022.

The Cayman Islands' progress in strengthening measures to tackle money laundering and terrorist financing

Cayman Islands will remain in enhanced follow-up on the basis that it had a low or moderate level of effectiveness for 7 or more of the 11 effectiveness outcomes.

FATF Consolidated assessment ratings

This table provides an up-to-date overview of the ratings that assessed countries obtained for effectiveness and technical compliance (last updated on 16 November 2021).

AML/CFT Handbook consultation support – first release

These proposed changes will simplify the use our handbooks, making it easier to find the information required for all supervised persons in one place.

Cyber Security Breaches Are Greatest Staff-Related Risk

Employers surveyed also revealed that over three-quarters of businesses had "significantly" or "moderately" changed their employment policies as a result of the impact of Covid-19.

Regulation, Risk & Compliance