10/27/2021
Sanne’s ACCA accreditations now approved to global platinum status
Across jurisdictions, Sanne supports over 200 trainees on their journey to achieve an ACCA qualification
Regulation, Risk & Compliance
10/27/2021
Improved Access to Capital Markets for Jersey Companies
The definitions of qualified investor and professional investor in the new exemptions are taken from the EU Prospectus Regulation and Jersey’s investment business regulatory regime respectively and are well-known to investors and those who operate
10/27/2021
Malta has not filed a single actionable report of EU funding fraud this year
Chief prosecutor at EPPO flags concerns about lack of reporting in Malta
10/26/2021
Malta greylisting means week’s delay for BOV-to-HSBC transfer
Malta bank-to-bank transaction held up for one week until correspondent bank was satisfied that underlying clients are not from Iran or North Korea
10/26/2021
Cayman Islands to introduce a dedicated 'restructuring officer'
Under the Amendment Bill, the filing of a petition for the appointment of a restructuring officer would trigger an automatic global moratorium on claims against the company, giving it the opportunity to seek to implement a restructuring.
10/26/2021
New Restructuring Tool in the Cayman Islands
A powerful tool for companies when facing creditor pressure. In keeping with its creditor friendly regime, the moratorium does not prevent secured creditors from enforcing their security.
10/25/2021
Extension to Global Citizen Concierge Program
The annual fees are relatively low and a successful applicant will pay US$1,500 per annum for their Certificate (a fee which includes one dependant), with fees of US$500 for each additional dependant.
10/25/2021
Barbados FTC wants stronger legislation to deal with pyramid-type schemes
She told the online publication, Barbados Today, that in order for an offence to be constituted, you had to have both.
10/25/2021
The Anti-Money Laundering Act of 2020
Congress also increased penalties for violating the BSA.
10/25/2021
Extension to Global Citizen Concierge Program
The annual fees are relatively low and a successful applicant will pay US$1,500 per annum for their Certificate (a fee which includes one dependant), with fees of US$500 for each additional dependant.
10/25/2021
Revision of fiduciary regulatory legislation
The New Fiduciary Law will be complemented by revised rules, codes and guidance coming into force on the same day
10/24/2021
Cayman improves technical AML compliance rating
Cayman already had a high technical compliance with the 40 standards, even as it was added to the FATF list of jurisdictions under increased monitoring in February 2021.
10/22/2021
CYPRUS: The Ministry of Finance announces new measures to attract foreign investment and enhance business activity in Cyprus
The permits will be issued immediately within one month and will have a duration of up to three years.
10/22/2021
FATF removes Mauritius from the list of jurisdictions under increased monitoring
The Mauritius International Financial Centre remains a competitive and attractive jurisdiction and a domicile of choice for structuring investments in Africa and Asia.
10/22/2021
Cyprus to Revoke 45 Golden Visas Issued Illegally
Because of obvious irregularities revealed by the media and the subsequent criticism by Brussels, it was terminated in 2020.
10/22/2021
Consultation to be held on change to the Probate Law
This would include items of personal property, such as cash, jewellery, clothes and furniture, where the total value is no more than £30,000
10/22/2021
Apex Group signs sustainability partnership with Cricket West Indies
The partnership covers an initial a three-year period with Apex as CWI’s Exclusive Sustainability Partner.
10/22/2021
Panama braces for ‘Pandora Papers’
ICIJ promises to reveal ‘most expansive expose of financial secrecy yet’
10/22/2021
Jurisdictions under Increased Monitoring - October 2021
The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented below in their risk analysis.
10/22/2021
FATF Public Statement on Pandora Papers
The FATF has long warned of the dangers associated with networks of anonymous shell companies and legal arrangements.