Managers of Wealth Offshore

FOCUS: Corruption, conviction and red flags

The case involved two breaches of the 2008 Money Laundering Order

Germany: Draft law proposes anti-avoidance measures regarding noncooperative jurisdictions

A jurisdiction that is engaged in unfair tax competition would be defined as a jurisdiction that applies tax measures

Important changes to the prudential reporting regime for BVI funds

The Order requires that the Funds continue in the traditional manner to file their Mutual Fund Annual Returns

Higgs & Johnson Extends Global Platform Through Collaboration with Andersen Global

This collaboration strengthens our commitment to our clients’ needs and further equips us to provide best-in-class solutions globally.”

Walkers acts on Diamond Standard's DABA Licence

The DABA licence enables Diamond Standard Ltd. to issue, sell or redeem virtual coins, tokens, or any other form of digital asset in or from within Bermuda during the period of the licence and subject to its terms.

Cayman Islands: Registry enforces beneficial ownership regime with fines

Failure to comply with the warnings can result in companies being liable for the administrative fines, the ministry said.

JFSC Press statement on WCM Partners

We wish to advise that, although the trading name ‘WCM Partners’ has been reserved in the Jersey Registry, no application has been received or processed to authorise WCM Partners to operate as a Jersey company

Appleby Advises Transverse in AMRISC Transaction

Appleby acted as Bermuda counsel to Transverse Insurance Group in their partnership with AmRisc LLC, a subsidiary of Truist Insurance Holdings and the largest catastrophe-focused property MGA in the United States.

Finance industry copes with inquiry fallout

After the inquiry was announced, some international media reports featured headlines speculating about millions of dollars in allegedly missing funds and the VI’s possible links to organised crime.

Jersey Financial Services Commission fines firms £700,000 for breaching anti-money-laundering rules

The three SG Kleinwort Hambros firms acknowledged their failings at an early stage and have taken steps to make material changes to strengthen their governance arrangements and compliance systems and controls.

The Cyber Security Rules and Guidance, 2021

The new Cyber Security Rules and Guidance have been created following extensive engagement with industry over the last two years

Guernsey funds specialists assist with £75 million fundraise for Hipgnosis

Ogier has advised the fund since its launch and initial listing in 2018.

What to know about BVI's regulatory change for investment structures

The official registration deadline for any structure caught by the new regulations was 1 July 2020

Registry enforces beneficial ownership regime with fines

If the fines are not paid or the companies involved continue not complying, the registrar will remove them from the companies register.

EU’s parliament extending blacklist criteria

Any expansion of the blacklist must be made by the EU’s Economic and Financial Affairs Council following an investigation and recommendation by the EU’s Code of Conduct Group.

Private M&A Involving British Virgin Islands Companies

Such benefits provide many advantages for corporate holding structures established in the BVI

Financial Policy Council welcome work on economic recovery plan

The meeting focused on pathways to sustainable growth in Bermuda, discussing both risks and opportunities emerging from the new economic conditions created domestically and globally by the Covid-19 pandemic.

Partnerships to be brought within scope of economic substance

This is necessary in order for the Government of Jersey to fully deliver on its commitments made to the EU Code of Conduct Group in 2018.

Irish employee succeeds in first Covid-related employment claim

The case is the first example of a claim for unfair dismissal in Ireland related to the coronavirus pandemic.

Changyou.com Limited: Fair value in a short-form merger

The merger was not subject to a vote of the shareholders of the Company.

Regulation, Risk & Compliance