Managers of Wealth Offshore

BMA begins consultation process to strengthen enforcement measures

The BMA has also proposed changes to reinforce its internal procedures, ensuring there is more transparency when enforcement measures have been commenced.

Government of Bahamas to Continue with Protocols to Curb COVID-19 Spread

The Bahamas government says it will continue to implement protocols aimed at reducing the spread of the coronavirus (COVID-19) especially among the frontline health care workers. “Protocols will continue to be implemented to minimize patient and st

SMAs – a Phoenix from the Flames of Covid-19?

Fund finance options are available to SMAs as they would be to more traditional “funds”, and in the last few years there has been an increased appetite from banks and credit funds in the market to provide SMA financing.

EU Anti-Tax Avoidance Directive 1 in Luxembourg - Where are we now

Exceeding borrowing costs” correspond to the amount by which the deductible “borrowing costs” of a taxpayer exceed the amount of taxable “interest revenues and other economically equivalent taxable revenues”.

Cayman Islands Economic Substance Update

This new guidance was developed in response to feedback from statutory private sector consultations

Channel Island Financial Ombudsman hosts first ever pan-island webinar

We provided continuous support during the event and the feedback from CIFO and the attendees has been very positive.

Special Purpose Acquisition Companies (SPACS) Make A Comeback

SPACs, also known as “blank cheque companies,” are re-emerging as a powerful alternative to traditional IPOs in the current volatile market.

New streamlined permits regime introduced in Mauritius

New rules announced in the Budget speech

Global Anti-Money-Laundering Fine Amounts Released

For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.

Cyprus and Russia agree to double taxation treaty amendment

This is very good news for Cyprus. A termination of the agreement would have proven a great challenge for our economy."

New name, new visual identity – A new bank?

CEO Christian Bjørløw tells about how the new name and visual identity were created and how Trusted Novus Bank has handled the transition so far.

Private Banking and International Environmental Goals – Aligning Misalignment

Reaching international environmental goals needs financing, and private banks have their hand on a significant lever guiding where finances flow globally.

ERA still conducting analysis of land reclamation sites

Environment and Resources Authority confirms that 'analysis' of potential land reclamation sites are still underway

Bermuda simplifies and enhances "firewall legislation"

The Amendment Act contains a wide provision which requires that once the trust has been created

St. Kitts and Nevis reopening borders in October

Nevis will soon announce reopening plans.

Fit and Proper - How to Manage Employee Breaches if You Are a Regulated Business

At all times, the employer will need to weigh up the competing requirements of the regulatory and employment regimes in Jersey.

Mauritian Government Adopts New National Budget Measures in the Finance (Miscellaneous Provisions) Act 2020

The Bank of Mauritius Act has also been amended to introduce the concept of “digital currency” as the central bank digital currency issued by the Bank of Mauritius.

Update on economic substance in the Cayman Islands

This briefing note discusses the substance regime in place in Cayman and highlights the key changes and practice points referenced in the Amendment Law, Amendment Regulations and Updated Guidance.

Fimbank fined €168,943 for ‘serious’ anti-money laundering failures

FIAU says remedial action being undertaken by bank at the time of review

Alternative Investment Funds 2020 Guide: Cayman Islands

An analysis of the laws and regulations of alternative investment funds in the Cayman Islands.

Regulation, Risk & Compliance