03/02/2021
EBA Revises Guidelines on Money Laundering
The Guidelines are central to the EBA’s work to lead, coordinate and monitor the fight against money laundering and terrorist financing.
03/01/2021
A PARTNERSHIP between the UK government and Crown Dependencies respectful of ‘constitutional boundaries’ will deliver progress on publicly-accessible registers of company beneficial ownership.
03/01/2021
CARICOM — an organisation of 20 states and dependencies — further said it is “dismayed” at how the COI was established with “no consultation, or prior communication between the UK government and the duly-elected government of
02/26/2021
CSSF on SFDR special accelerated procedure
The CSSF informs that the letter confirmation of the SFDR special fast-track procedure, has been adapted and it can also be used to support the review of sustainability information included in a prospectus/issuance document submitted outside of the SFDR s
02/26/2021
The CBI updated its COVID-19 FAQs to list factors investment firms should consider when looking to pay dividends and variable remuneration, given the impact COVID-19 has had on the markets and the economy in recent months.
02/26/2021
Cayman Islands, Morocco Placed on Terror-Financing Watch List
The Financial Action Task Force has added four jurisdictions to its list of countries subject to increased monitoring
02/26/2021
This guide outlines the eligibility criteria for an approved manager, the obligations of the role and the steps you need to take to apply for approval.
02/26/2021
Jurisdictions in the increased monitoring category are required to work with FATF to swiftly address outstanding strategic AML deficiencies in their regimes.
02/26/2021
The amendments and guidance notes formally extend the economic substance rules to self-managed funds and such funds are subject to the economic substance test for financial periods commencing on or after 1 January 2021.
02/26/2021
The Cayman Islands Government has given the jurisdiction’s commitment to satisfying the plan’s requirements and notes that, in any event, this work was already underway.
02/25/2021
She added that nature reserves that added to Bermuda’s “sense of national and cultural identity” would also be damaged by the changing climate.
02/25/2021
World auditors voice concern at access to Cyprus cash-for-passport scheme records
Before that, authorities had defended the initiative, which was popular with Russians, Ukrainians, Chinese and Cambodians.
02/25/2021
Malaysia’s Apex Court Decides Labuan FSA Guidelines Carry The Full Force Of Law
A perennial question posed - what weight should be attached to guidelines issued by Labuan FSA.
02/25/2021
Guernsey’s fast track pre-authorisations expected to help boost captive formations in 2021
A captive can go ahead with changes to retentions, changes to reinsurance, to fronting arrangements, they can add new lines of business and they can do that without needing to provide any notification or await any approval from the Commission.
02/25/2021
Electronic signatures – issues to consider, and how the law in Jersey and Guernsey is developing
Since 2000, both Jersey and Guernsey have had legislation which makes it clear that that contracts may be formed by electronic means
02/25/2021
Mandatory Disclosure Rules
The Regulations do not follow the EU model enacted as DAC 6 (EU Council Directive 2011/16) (DAC 6).
02/25/2021
Heads of state launch historic UN plan to stamp out global tax abuse
The tax reform proposals were harshly criticised by leading economists
02/24/2021
Bermuda Announces New Economic Investment Residential Certificate
This is the Government’s latest immigration initiative aimed at increasing economic activity in Bermuda
02/23/2021
While there is no suggestion that any of the funds provided by Angola were of suspicious origin or that the investments into which the funds were placed were themselves suspicious, LGL failed to identify the real risks of money laundering that were appare
02/23/2021
The survey, which issued 42 questions set against the impact of "catastrophic physical damage" resulting from a Category Five striking New Providence and Grand Bahama, received 94 responses from the 110 institutions targeted for a reply rate of