Managers of Wealth Offshore

Maples seeking judicial review of AML regulations

Group disagrees with CIMA’s interpretation

Fears of ‘significant deterrent’ for whistleblowers as top EU court quashes Lux Leaks case

The European Court of Human Rights ruled that Luxembourg’s treatment of whistleblower Raphael Halet “struck a fair balance” between protecting his freedom of expression and the rights of PwC, despite objections from two dissenting judges

EU plans to ban cash payments above €10,000 in AML move

Some member states currently have ceilings on cash payments, ranging from €500 in Greece to €15,000 in Poland.

Bermuda: CRS deadlines extended and reminders issued

The extension is as a result of the ongoing effects of COVID-19.

Guernsey Update: New Plans for Bringing Partnerships in Scope of Economic Substance Rules

These changes will be most relevant to the funds industry in Guernsey

Financing a Cayman Islands merger take-private

Privatisations by way of a Cayman Islands statutory merger are often financed by loans.

ECSRC confirms new qualifications regime with CISI

The CISI is the not for profit, global membership body for those working in capital markets, wealth management and financial planning, with 45,000 members in over 100 countries.

Guernsey announces new economic substance rules for partnerships

The changes are accompanied by new requirements for all partnerships to submit an annual tax return

Commission to deregulate Non-Guernsey Scheme regime

The Commission will continue to monitor the type of investment business undertaken by regulated firms

HSBC heist allegations, Standards reports ‘coordinated attack against me’, Abela says

Minister says allegations of having been involved in HSBC heist when he was employee there are coordinated attack against him

JFSC publishes 2020 Annual Report

While the JFSC made a surplus in 2020, mainly due to lower than planned expenditure, it is still working on bolstering its financial reserves to strengthen its organisational resilience.

Navigating Data Protection risk and liability at board level – Support available from JOIC

The sessions are an opportunity to work with the subject matter experts in a safe space to stress-test the data protection practices in your organisation, and identify the risks before they are realised.

Do you really understand Jersey’s work permits?

Work permits are a requirement under the Immigration (Work Permits) (Jersey) Rules 1995 and as such employers are required to apply for a work permit for employees who require immigration permission to enter or remain in Jersey for work.

Luxembourg CSSF Publication of Guidance on Teleworking

In addition, the CSSF points out that remote working arrangements must comply with the provisions of the Luxembourg Labour Code and must not contravene any mandatory public policy provisions.

Supporting the Maltese economy

Complementing the fiscal manoeuvring space, it was also important to have the institutional capacity to deliver the required support measures effectively while protecting the interest of public finances.

The UK is losing the fight on money laundering, but we can still win - if we want

Britain’s white-collar professionals would wince at the thought that they are enablers of global corruption. New research suggests that the UK’s corruption problem is not only structural, but cultural, too

Trends in Sustainable Finance Disclosures

The primary aim of the SFDR is to ensure that investors are equipped to make a reasoned decision in a transparent market with the hope that capital flows will ultimately be rerouted to sustainable investments.

Shifting the focus away from periodic KYC

Financial institutions in Mauritius generally perform a Periodic KYC exercise

Guernsey Financial Services Commission Consults on Proposed Re-Issue of Statutory Instruments

The draft Statutory Instruments replicate the current Statutory Instruments with the incorporation of new terminology and, in some cases, the amalgamation of previous Regulations into Rules.

Seven steps to buying property in the British Virgin Islands

Completion is usually arranged to take place within a specific time after all the conditions in the SPA have been satisfied.

Regulation, Risk & Compliance