Managers of Wealth Offshore

GFSC Director General William Mason to open Governance Guernsey 2021

“This year’s conference is, therefore, focussing on how companies can create a sustainable future."

Further CRS powers in Guernsey

The Bulletin issued on 13 September can be found here.

FSC issues crowdfunding rules to take SME support in Mauritius to the next level

Both frameworks will foster innovation and facilitate access to finance to SMEs

Fund finance: regional perspectives and updates

The global fund finance market has shown much resilience over the last 18 months and as we head into the last few months of 2021, our team offer their thoughts and insights on what we are seeing in each of our regions.

New filing and deadline for Cayman Islands private funds

For all private funds with a financial year end up to 31 March 2021 the date for filing the FAR form has been extended to 31 October 2021.

Revisions to regulatory laws

Most of the changes are minor in nature and do not set out any material policy changes from the previous rules and guidance.

Bank Recovery and Resolution: Progress

The Law will bring Jersey’s banking legislation into line with changes made by the European Union’s Bank Recovery and Resolution Directive 2014/59/EU (BRRD)

Cayman Private Fund Annual Return and Related Fund Entity Deadlines Extended ( Final-Extension )

The filing due date for the Forms for private funds with a financial year-end of 30 April 2021 and later will continue to be 6 months following such financial year-end.

Notary fined €62,000 for breaching anti-money laundering rules

UBO shortcomings among main reasons FATF greylisted Malta

Resealing of Foreign Grants of Probate in the BVI – New Act brings welcome Clarity

After the death of the shareholder, any BVI shares will be effectively frozen; voting rights will likely be suspended and the BVI company will be unable to distribute any dividends paid on the shares because no one will be authorised to give a good receip

Warning: Four overseas financial service providers impersonated in scam

These scam businesses, their websites and email addresses are in no way related to the registered or previously registered businesses by the same names which are based in Belgium, Austria and The Netherlands.

Bermuda re/insurers paid $35bn to UK policyholders from 2016-2020: BMA

The US$35.2 billion in total losses paid is comprised of US$25.7 billion relating to property and casualty insurance losses and US$9.5 billion attributable to life insurance claims.

Maltese trusts – an attractive estate planning tool

Anjelica Camilleri de Marco, Senior Associate in Malta, outlines the adoption of trusts in Malta and examines their tax treatment.

Cap on cash transactions leads fight against money laundering

This cap which arose from a government policy discussed in parliament in 2019, will be enforced by a dedicated team from the FIAU.

FSC issues the Financial Services (Crowdfunding) Rules 2021

Both retail and expert investors will have the opportunity to participate, in a regulated environment, to the growth of SMEs, thus bolstering entrepreneurial spirit in the jurisdiction.

Award-winning cyber security expert to speak at Mourant Trusts Forums

David’s keynote will discuss how cyber criminals operate, the way criminals exploit businesses and their data, and what firms can do to guard against cyber crime.

Cayman private fund annual return deadline further extended

All private funds with a 2020 or a 2021 financial year-end up to 31 March 2021, must submit the FAR and RFE forms by this deadline. CIMA has confirmed that no further extensions will be granted.

ESMA guidelines on marketing communications

The guidelines will apply six months after the date of the publication of the guidelines on ESMA’s website in all EU official languages, ie from 2 February 2022.

Bermuda Reinsurers Claim Payments To UK Policyholders

The key role that Bermuda plays in the supply of risk capacity to the UK makes a notable contribution to a thriving London (re)insurance market.”

BVI enhances registered agent whistle-blower requirements

The revised section 54A came into force as of 19 July 2021.

Regulation, Risk & Compliance