Managers of Wealth Offshore

Economic substance matters for investors

“Quality of service providers and substance on the ground is one of the absolute major key factors, or should be, in domicile choice,” said Kate Storey.

Ireland Update: Winds of Change for Whistleblowing

The definition of relevant wrongdoings will be broadened to include breaches of financial services regulations

Managing and Resolving Shareholder Disputes in Jersey

A shareholder is able to force the board to call a meeting of the company by having one-tenth (or more) of the total voting shares.

Government will develop business plan with industry to launch world’s first state sponsored digital bank

It will also identify corresponding banking partners and potential risks and risk-mitigation strategies for the development of the digital bank, and advise on the design of its core technology.

Governance superstars lauded at ICSA: The Chartered Governance Institute’s Guernsey Branch Annual Dinner

The academic achievements of the Institute’s members and students were also celebrated at the Guernsey Branch Annual Dinner and Awards

Appleby Acted as Bermuda Counsel for Chaucer

Appleby’s specialist Insurance & Reinsurance team provides advice on the establishment, regulatory compliance and business operations of (re)insurance companies, as well as advising (re)insurance managers and brokers based in international juris

JTC to Enter FTSE 250 Index

Headquartered in Jersey, JTC listed on the Main Market of the LSE in March 2018

70 apply for Global Citizen scheme

As applications can include spouses and children, the total number of people included in current applications is 70.

CRS and FATCA UPDATE

The CRS and FATCA Amendment Regulations 2020* amended the annual reporting deadline for CRS and FATCA to 31 July in each year.

Back off black

Cayman is expected to remain a premier global tax-neutral financial hub.

CRS and FATCA Update

Our previous article dated 24 April 2020 summarises industry advice released by the Department for International Tax Cooperation on 16 April 2020.

CIMA fines Bank Cainvest $100,000

The bank is headquartered in the Cayman Islands and, at the outset, offered private banking services for family offices, institutional clients and high-net-worth individuals.

New Central Bank of Ireland Guidance on AML Transaction Monitoring

The Central Bank of Ireland recently issued an anti-money laundering advisory note highlighting how Irish regulated firms can improve their monitoring of customer transactions to detect potentially suspicious activity.

Irish Fund Management Companies: Time to Get Serious About Substance & Oversight

It is this commitment to the sustainable growth of the industry that requires the stakeholders to continually critically review the model to ensure it exceeds international best practice and maintains Ireland’s position as a Gold Standard jurisdicti

Spotlight Report – Emerging themes in our funds markets

Aside from COVID-19, Brexit lingers as a significant force impacting the global funds market, particularly the EU.

Privy Council approves constitutional changes

Under the amended Constitution, the Cayman Islands will become the third British Overseas Territory to have a legislative body known as Parliament.

Association formed for investment managers

The CIWMA intends to liaise with local and international industry associations and build alliances with bodies such as the Personal Finance Society, the Chartered Institute of Security and Investment and the Institute of Directors.

Irish Schemes of Arrangement and Cross-Border Debt Restructuring.

The court approved of the release of debt owed by primary obligors which were not themselves subject to the scheme – provided that there is a "sufficient nexus" between the guarantee liabilities and the primary obligations.

Information Notice has brought clarity to industry's questions over investment into cannabis assets by Guernsey structures

The position taken by the States of Guernsey in relation to cannabis investment follows the approval by the Assembly in June 2019 that businesses can grow and process cannabis in Guernsey for medicinal uses.

Addressing the growing demand to migrate to Guernsey

The Bailiwick of Guernsey’s movement was possibly easier than some, given that the move was not much more than a shift from de facto to de jure requirements on substance.

Regulation, Risk & Compliance