Managers of Wealth Offshore

BMA to consult on new framework for parametric insurance

The BMA said a fit-for-purpose framework would support the growth of a strong parametric market

Changes to beneficial ownership regime

Many of the key features of the framework set out by the Act remain to be defined in those regulations and in guidance notes.

Recent changes to charities law in Guernsey

Guernsey’s economic substance regime requires entities deriving income from certain 'relevant activities' to demonstrate that they have sufficient substance.

Central Bank of Ireland Publishes Expectations on SFDR Compliance

The Central Bank noted there are areas that require a marked improvement

Money laundering risk assessment for the banking sector published

The assessment identifies a number of emerging threats, including cyber-enabled crime, fraud, and the misuse of virtual assets

Compliance costs drive corporate service consolidation

Those costs are easier to bear with economies of scale.

Tynwald approve new rate of Minimum Wage for the Isle of Man

This new rate represents a fair and considered step forward, based on a new methodology that is clear, evidence-based and rooted in the real status of the Island’s economy

Advising Architect Bermuda Ltd. on the launch of AX, Bermuda’s first regulated traditional perpetual futures exchange

Natalie commented: 'We are delighted to have assisted Architect and to officially welcome this first-in-class regulated global exchange to Bermuda's thriving digital asset sector.'

Key updates to Bermuda’s Work Permit Policy 2025

For corporate businesses, a work permit holder can only work for multiple employers if the worker is providing the same job functions for affiliated companies.

Positive factors align prior to APS Bank Rights Issue

Rights Issue will primarily be aimed at raising Tier 1 capital, APS Chief Financial Officer Ronald Mizzi explains

Guernsey business fined £100k over major data breach - Key lessons for organisations

This enforcement action serves as a reminder that maintaining the security of personal data is a continuous process.

New employment rights for shared parental leave and parental bereavement leave

This leave may be taken as a single two-week block or two separate one-week blocks within the first year after the child’s death.

The Malta Exchange threat

A pincer move by EU regulators and Germany threatens the existence of Malta’s capital market ecosystem

10.6% of civil servants over former retirement age of 60

Another 152 employees are aged 65 and over, representing 3.1% of the workforce, which is beyond the current retirement age of 65.

Former HSA boss Osbourne Bodden fires back over board pay controversy

The board held 190 meetings and collectively took home almost $500,000 in payments during an 18-month period up to the end of July this year.

International insurance sector issues 11 new licences

The additions bring Cayman’s total to 719 Class B, C and D insurance companies, which collectively represent approximately US$51 billion in premiums written and $173 billion in total assets.

Auditor General not done yet

The probe follows widespread public concern over the government’s deposit of more than five million dollars of taxpayers’ money into the now-collapsed Bank of Asia (BVI) Limited.

Bank failure reform impact for depositors and creditors

The proposed amendments also seek to ensure depositors receive preferential treatment and a mechanism to protect public funds during resolution

Legal reform in Jersey: tackling gazumping and gazundering in property transactions

In Jersey, all transfers of property (other than share transfer property) must be completed by passing a contract before the Royal Court.

Estate Planning in the Cayman Islands

Trusts created pursuant to Part VIII of the Trusts Act (STAR Trusts) which enable the creation of trusts for the furtherance of purposes

Regulation, Risk & Compliance