Managers of Wealth Offshore

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.

Registrar of Companies Enforces Cayman’s Beneficial Ownership Regime

The Registrar of Companies (RoC) is imposing penalties and issuing warning letters to companies that fail to submit accurate information on their ultimate beneficiaries (their ‘beneficial owners’).

Registrar fines companies not revealing owners

Head of Compliance Paul Inniss noted that the companies had all been warned about their obligations to reveal the ultimate owners to the authorities here and comply with the law.

Walkers Acts as Cayman Islands Counsel to Ace Convergence Acquisition Corp. in Business Combination with Achronix Semiconductor Corporation

Acting with US legal advisors Skadden, Arps, Slate, Meagher & Flom, LLP, the Walkers team was led by Cayman Islands-based partner Jason Allison and associate Tom Hagger.

The Cape Town Convention five years on

In the five years since the Convention came into force we have advised leasing companies, aircraft owners, lenders and others that use Cayman structures for financing and leasing aircraft on the rights and interests conferred by the Convention and the imp

Guernsey active in captive market already in 2021 activity as pre-authorisation pilot has impact

The scheme is currently limited to protected cells, hosted by a protected cell company that is owned by a licensed insurance manager.

Regulation, Risk & Compliance