Managers of Wealth Offshore

Complying with Economic Substance Requirements in the Face of the COVID-19 Pandemic

The deadline for entities required to make an economic substance notification for the past financial year has been extended to 30 June.

Global Forum publishes new peer review reports and reveals compliance ratings for eight jurisdictions

The results are equally contrasted, with some jurisdictions struggling to implement their legislation on transparency.

Mauritius: capital markets | practical considerations in the context of the Coronavirus (COVID-19)

Trading and settlement activities on SEM and CDS will, therefore, resume on Monday, 6 April 2020

Guernsey banks work with States on loan guarantee scheme

All three governments were advised by government lawyers and teams from Carey Olsen on the establishment of the schemes, including agreeing the heads of terms, drafting the scheme documentation and its launch, while Appleby advised the banks.

Structured Credit in the PRC and Hong Kong

With the tightening of liquidity and credit controls in the PRC, banks and financial institutions are looking for ways to reduce its existing credit exposure by moving any existing loans off their balance sheet.

Application of Bermuda's Bribery Act considered by Supreme Court

Acting Justice Kawaley’s decision in X Limited concludes, generally, that the application of the Act is broader than one might expect

Malta regulator warns of steep rise in covid-19 scams

MFSA issued four warnings in just the last two weeks of March, which under normal circumstances would be the number of warnings issued over a two-month period.

Time for a rethink on what a quality flag really is…

Captain Hutchinson further added: “Our Owners, their Managers and crew onboard their ships demonstrate the best values seen in the shipping industry.

Electronic signatures in the Cayman Islands

The ETL provides that, subject to certain requirements, contracts will not be excluded from having full legal effect by virtue of their execution with an electronic signature.

BVI ITA list of CRS Reportable and Participating Jurisdictions gazetted

Participating jurisdictions under the CRS are those jurisdictions that have committed to implement the CRS and are able to enforce reporting by its financial institution.

Entities now able to act as PPOC and AP and CIMA licensee may act as both

The updated institutional user guide was published by the TIA on its website on 17 March 2020.

COVID-19: introduction of practical regulation and considerations in Luxembourg

This reaffirms the importance of providing regulatory reporting in a timely manner, extending the filing of annual financial statements and insisting on the importance for supervised entities to provide virtual or remote access to their employees.

SANNE announce new client win

This collaboration is representative of the continued efforts of SANNE to maintain a leading position within the Africa-centric hub.

Simple structures and practices can help staff working remotely

COVID-19 is inevitably affecting not only the physical health of many but also their mental health, with many feeling anxious and fearful about a situation that they are unable to control.

JFSC Expectations on Business Continuity

It is more than likely that you will not be able to meet your customers face-to-face to obtain their original identity documents.

Jersey Cash Box Structures: A Fast Route to Funding

It is no surprise, as a result of the wider economic unpredictability arising from COVID-19, that listed companies requiring urgent access to capital are turning their attention back to Jersey cash box structures.

Charities Registration and Regulation Act 2019

Every registered charity (even small charities) must now have a written governing instrument and the Attorney General must give prior written consent to any amendment to the written instrument (unless it is a foreign charity).

Global Forum: Switzerland scores well

The report was published on 6 April 2020. It noted significant improvements, in particular as regards bearer shares and the efficiency of information exchange in practice.

How has the Coronavirus shaped succession planning trends in Latin America?

Some of the subtler considerations around succession planning in light of the current economic situation is a founder’s desire to position a business strongly.

First 'hardship' payments due this week

So far over 2,300 businesses have registered for support and each of these business has now received an application form which many have already returned to us.

Regulation, Risk & Compliance