Managers of Wealth Offshore

UBO in the USA: reporting requirements on the horizon

Businesses will need to keep abreast of developments or enlist the support of a third party who can keep them informed, or even handle compliance obligations on their behalf.

New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission

For the avoidance of any confusion, it does not discuss the recent adoption of intra-EEA controller to processor standard contractual clauses under Article 28(7) of the GDPR.

US flags Maltese pension plans as ‘potentially abusive’

Government body warns they may be facilitating tax avoidance

Sustainable Investments: Jersey Makes Codes of Practice and Private Fund Guide Changes

In that sense, these changes support Jersey Finance’s 2030 Vision and overall strategy for sustainable finance, ensuring that Jersey plays its part in the global transition to a more sustainable finance system.

Hawksford strengthens its services across 13 Asia-Pacific cities and jurisdictions

The development will support companies seeking to scale and grow their venture into Asia-Pacific by offering through their international business expansion experts, serving as a central point of contact across services.

Recent Updates of the Cayman Islands Economic Substance Regime bring certain partnerships into scope

This expansion of the regime’s scope necessitated amendments to certain key terms in the Schedule to the ES Act (e.g. broadening of the definitions of “entity” and “relevant entity”) and the addition of new terms.

Economic substance for the British Virgin Islands

The Act applies to existing entities and new entities incorporated or formed from 1 January 2019.

Bermuda Economic Substance Amendment Act 2021

Walkers Professional Services is available to assist entities to file economic substance declarations where required under the ES Act.

Tackling the Gender Pay Gap and Pay Transparency in Ireland

The changes will be introduced on a staggered basis, beginning with larger employers.

‘Can-do’ attitude makes Guernsey a natural home for ILS innovation

The bonds were settled using Replexus’ unique ILS Blockchain.

Resealing of Foreign Grants of Probate in the British Virgin Islands

This means that where an individual held shares in a company incorporated in the BVI, the grant of representation will be required in order to deal with those company shares.

Funds & Investment Management Update - Ireland and Luxembourg - Q2 2021

Other notable developments include the CSSF’s updated guidance on granting loans to the public and updates to its UCITS and AIFM FAQs, the publication of a Circular on remote working as well as further EU sustainable finance developments.

New Legislation gives Guernsey Revenue Service new Powers and Extends FATCA/CRS Reporting

The Revenue Service will now have the power to enter any business premises to inspect the premises and any documents therein.

Malta could take longer to get off the FATF grey list

Leading financial crime expert warns that Malta faces a 'difficult road ahead'

IGI Europe begins trading in Malta with former MAPFRE exec at the helm

IGI Europe is authorised by the MFSA to write a full suite of IGI products and will exercise passport rights across the European Union (EU) and European Economic Area (EEA).

BVI Guv okays bills to deter financial crime

The new amendment specifies that investment fund business doesn’t count toward “relevant activities.”

Central Bank of Ireland updates AML/CFT Guidelines for Financial Sector

The Updated Guidelines list a number of steps that the Board should take in order to meet the necessary standard of governance and oversight.

MALTA: Cabinet approves extension of commercial court’s competence

Government takes up suggestion made by judge Joseph Zammit McKeon

Brussels sets stage for battle over emissions cuts

EU reform proposals attacked by politicians, industry lobbies, environmentalists

Mauritius on the way to being delisted from FATF grey list

Mauritius has been commended by the FATF on the progress achieved in addressing the highlighted strategic deficiencies and has implemented a series of reforms.

Regulation, Risk & Compliance