Managers of Wealth Offshore

Satabank ‘blindly’ took on client portfolio without knowing risks

FIAU report finds bank did not always get to pick its own customers

BMA imposes $400,000 of penalties on two life insurance companies

"The breaches came to light during an on-site review of the companies’ activities conducted by the AML/ATF unit of the Authority in November 2018."

The Corporate Transparency Act in 2020: A new US federal reporting requirement for beneficial owners of US entities

These rules reflect a growing international trend to require disclosure of beneficial ownership and creates compliance similar to many other countries, including but not limited to Bahamas and Bermuda, for example.

myRegistry update and Registry opening times

Whilst we continue to carry out these final preparations, our Registry will be closed.

A new momentum for ESG in Asia

Sustainable investment has actually been around for a long time, particularly in the guise of socially responsible investing.

The ESG conversation in Hong Kong

The interest in ESG is now a truly global one.

Environmentalists discourage use of Chinese lanterns

The lanterns, she said, can glide in the sky for miles, “placing them in the pelagic feeding grounds of aquatic animals who can eat or become entangled in their remains”.

Harneys closes 2020 with three additional IPOs

Netjoy is a China-based digital marketing and advertising service provider

Carrying on business in the Cayman Islands

Under the T&BL Act, the Board may, within 28 days of the receipt of an application, request additional information from the applicant that it deems necessary for the purpose of considering the application.

No pay rise for Guernsey’s public sector except health, care and lower paid workers

One of these exceptions is the Agenda for Change staff (health and care staff including nurses and midwives), where the previous Committee had already implemented a 5% increase (following a 5% increase for 2019).

Guernsey plans for second Covid-19 vaccine after UK authorises AstraZeneca

Guernsey follows the guidelines stipulated by the Medicines & Healthcare Regulatory Agency, who say that due to an absence of evidence on the effects the vaccines have on children and adolescents, they should only be administered to people over the ag

Report: Cyprus Failed to Act Even When Warned of Shady Passport Buyers

A report put together by a committee and released on Tuesday said that even when authorities were in possession of disqualifying details about a candidate, they did not act.

Malta Business Bureau welcomes EU-UK Free Trade Agreement

Cautions about ‘substantial’ implementation challenges

A New ERA for ILS on Bermuda

At the BSX, we have a unique vantage point as we provide Bermuda’s exchange platform supporting ILS securities and their ability to list on a regulated market to meet investor requirements for transparency and information disclosure.

Finding Focus After Covid-19

The split is now between businesses that were able to stay open and continue normal operations and those whose demand has been significantly reduced.

Compliance business expands with law firm

As the compliance space grew, she launched Kastleway Compliance, part of the Kastleway Group.

Walkers Acts for Onex in Relation to Convex Group’s $1 billion Fundraise

The Walkers team that advised on the further investment was led by Jonathan Betts (Partner) with assistance from Rachel Nightingale and Melanie Fullerton (Senior Associates).

7 major changes coming to UK laws in 2021 including travel to the EU, data roaming and more

New year, new rules - find out what some of them will be

The ‘Brussels Effect’ Comes For Big Tech

Under the DMA, for example, practices such as self-preferencing will be blacklisted – presumed illegal without the need for the EU to bring an antitrust challenge to demonstrate harm to competition.

Wilton Announces IOMA Group Acquisition Agreement

Wilton and IOMA target similar markets and clients with complementary products and we are excited by IOMA’s potential as part of Wilton.

Regulation, Risk & Compliance