09/15/2020
Luxembourg financial watchdog sharpens its teeth
Regulator Marco Zwick on efforts to strengthen supervision after years of criticism
Regulation, Risk & Compliance
09/14/2020
Malta's MPM Capital handed record fine of €1.18m
The Financial Intelligence Analysis Unit (FIAU) in Malta has fined the now-closed MPM Capital financial services firm a record €1.18m for operating as an unlicenced payment services provider.
09/14/2020
Jersey introduces statutory migration regime for foreign limited partnerships
With effect from 17 July 2020, Jersey now possesses a statutory regime allowing non-Jersey limited partnerships to migrate into Jersey.
09/14/2020
Bahamas ranks 39th on Economic Freedom, enters top quartile
The Bahamas’ score for its size of government increased from 8.1 out of 10 last year to 9.1 this year — the second-highest score of the list; only topped by Guatemala, which received a score of 9.51.
09/11/2020
EU banking watchdog calls for single set of anti-money laundering rules
Such binding regulation would then mean that cooperation and information exchange across the EU single market “is no longer the exception, but the rule”, the EBA said.
09/11/2020
Premier: Pension withdrawals end in October, pensions holiday extended
The premier added that staycations are working “remarkably well” and people are spending lots of money in bars and restaurants.
09/10/2020
JFSC publishes report on Lumiere
The breaches demonstrate Lumiere has failed to comply with the legal and regulatory regime operated in Jersey.
09/10/2020
Licences of two law firms revoked over anti-money laundering failures
The unit has already been informed about the two firms whose licences have been revoked.
09/10/2020
Regulators investigate elite London law firm
Solicitors Regulation Authority has spent at least two years scrutinising firm
09/10/2020
Liquidators sue Platinum auditors BDO
The funds are asking for the return of management fees, director fees, consulting fees, certain operational expenses, audit fees and costs from BDO USA.
09/09/2020
Following Jersey's lead would "come with compromises"
Since the changes were brought in, the island has carried out more than 63,500 passenger tests, finding just 46 positive cases.
09/09/2020
Regulatory Clamping Reaching Safe Havens. Should CFD Brokers Be Afraid?
Changes in regulatory requirements reach off-shore destinations
09/08/2020
Seychelles' Central Bank governor warns against speculating on the foreign exchange market
The governor said that it is crucial to address this speculation, which is dangerous if it becomes a reality.
09/08/2020
From New York to Chile and in between: The Cayman Islands court approves protocol for communicating with foreign courts in LATAM Finance restructure
The guidelines primarily cover the procedural rules that may be adopted and applied for regulating communications between courts, including joint hearings.
09/08/2020
BVI: Gambling law guts rules in original bill
The law, which is now titled VI Gaming and Betting Control Act, 2020, proved controversial during debate in the House of Assembly, with some members sharing concern about the potential negative effects on society.
09/08/2020
Malta gets another downgrade at crucial juncture for financial services industry
Malta’s lucrative financial services industry and its international ranking has suffered another blow as the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has downgraded the island’s standing to “
09/08/2020
Comment: Resilience marks the Bahamas financial services industry
The Bahamas maintains that it is attaining the highest standards in the fight against money laundering, terrorist financing and other identified financial crimes risks.
09/07/2020
Cyprus to strip seven of citizenship in passports probe
Cyprus began offering citizenship in exchange for substantial investment as far back as 2007, but the scheme was stepped up following the Mediterranean island’s 2013 economic crisis.
09/07/2020
Proportionate Protection for All Beneficiaries of an Estate
Executors of an estate accused each other of misconduct in relation to the administration of the estate.
09/04/2020
Barbados moves to digital ID cards
The system will also facilitate the secure electronic transfer of information for a range of activities, such as e-commerce, Internet banking and e-communications.