Managers of Wealth Offshore

Government announces changes to EIRC investments

Those who invest $2.5 million in specific Bermuda industries, sectors, charities, or government programmes, receive residency rights.

Cayman Islands Anti-Money Laundering Surveys for Financial Service Providers 2024

The AML surveys assist CIMA in the exercise of its functions, including the collection of AML / CFT / CPF and sanctions data from FSPs.

Key Advantages of Using Cayman Islands Exempted Companies

There are no exchange control regulations or currency restrictions in the Cayman Islands

Higher Jersey savers’ rates ‘driving up mortgage costs’

During the investigation, JCC chair Carl Walker wrote to the six main mortgage providers requesting a “detailed explanation” about the elevated rates in Jersey, giving them three weeks to respond.

£1.3m in compensation awarded last year by financial ombudsman

The ombudsman, who is accountable to the States of Jersey and Guernsey, found in favour of complainants in almost half the 342 cases closed during the year.

Pensions deadline approaches for larger firms

The new rules are being phased in, with smaller companies needing to comply over the following 15 months.

Guernsey’s regulator becomes signatory to IOSCO Enhanced Multilateral Memorandum of Understanding

IOSCO's membership regulates more than 95% of the world's securities markets in some 130 jurisdictions.

Data protection fees could rise 20% for firms

However the DPA said States of Guernsey's fees would be reduced by £50,000 to £250,000 in order to reduce the cost to tax payers.

Flagstone approved as standalone Trust Company by Jersey Financial Services Commission

This approval from the JFSC recognises Flagstone International as an independent trust company able to provide services under Jersey’s regulatory framework.

BOV selects Databricks to implement state-of-the-art intelligence platform

Harnessing the benefits of data-driven decision-making

Jersey’s implementation of the OECD Pillar Two rules

The Government of Jersey has issued an update to the statement it released a year ago in relation to its plans to implement key aspects of the Pillar Two international tax reforms in Jersey.

Money market report for the week ended May 31, 2024

Information on ECB monetary operations and the domestic Treasury bill market

Putting good corporate governance into practice

'Corporate governance has proved excellent business with hundreds of conferences but that unfortunately, it has produced loads of hollow talk, repetition and platitudes'

Bermuda to participate in global privacy forum

By participating in the forum, Bermuda would be granted mutual recognition for our privacy rights and standards, ensuring certainty for Bermudian businesses and expanded international protections for the rights of its people.

BMA and Lloyd’s sign MOU

In signing the MoU, both parties have agreed to jointly navigate regulatory developments and explore related opportunities by leveraging the Lloyd's Lab.

Antigua & Barbuda signs declaration to join CAF Development Bank

Antigua and Barbuda's confirmation of its interest in joining CAF is a strong signal of the organisation's expanding presence in the Caribbean.

ESMA call for evidence – review of the Eligible Assets Directive

The Commission mandated ESMA to carry out a review of market practices to ensure that the eligibility rules are being implemented

New Chair for IoD Jersey to focus on the leaders of the future

The IoD Jersey branch has grown substantially in numbers in recent years

BOJ cuts certificate of deposit (CD) minimum to $100k

The BOJ highlighted that this move not only aligns its auctions with best practice, but also improves financial inclusion for investors with smaller sums of money.

The EU and Caribbean strengthen their partnership and exchange on investment opportunities at the SIDS Conference

Caribbean countries were able to present their priorities and engage with EU investors.

Regulation, Risk & Compliance