Managers of Wealth Offshore

Licences of two law firms revoked over anti-money laundering failures

The unit has already been informed about the two firms whose licences have been revoked.

Regulators investigate elite London law firm

Solicitors Regulation Authority has spent at least two years scrutinising firm

Liquidators sue Platinum auditors BDO

The funds are asking for the return of management fees, director fees, consulting fees, certain operational expenses, audit fees and costs from BDO USA.

Following Jersey's lead would "come with compromises"

Since the changes were brought in, the island has carried out more than 63,500 passenger tests, finding just 46 positive cases.

Regulatory Clamping Reaching Safe Havens. Should CFD Brokers Be Afraid?

Changes in regulatory requirements reach off-shore destinations

Seychelles' Central Bank governor warns against speculating on the foreign exchange market

The governor said that it is crucial to address this speculation, which is dangerous if it becomes a reality.

From New York to Chile and in between: The Cayman Islands court approves protocol for communicating with foreign courts in LATAM Finance restructure

The guidelines primarily cover the procedural rules that may be adopted and applied for regulating communications between courts, including joint hearings.

BVI: Gambling law guts rules in original bill

The law, which is now titled VI Gaming and Betting Control Act, 2020, proved controversial during debate in the House of Assembly, with some members sharing concern about the potential negative effects on society.

Malta gets another downgrade at crucial juncture for financial services industry

Malta’s lucrative financial services industry and its international ranking has suffered another blow as the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes has downgraded the island’s standing to “

Comment: Resilience marks the Bahamas financial services industry

The Bahamas maintains that it is attaining the highest standards in the fight against money laundering, terrorist financing and other identified financial crimes risks.

Cyprus to strip seven of citizenship in passports probe

Cyprus began offering citizenship in exchange for substantial investment as far back as 2007, but the scheme was stepped up following the Mediterranean island’s 2013 economic crisis.

Proportionate Protection for All Beneficiaries of an Estate

Executors of an estate accused each other of misconduct in relation to the administration of the estate.

Barbados moves to digital ID cards

The system will also facilitate the secure electronic transfer of information for a range of activities, such as e-commerce, Internet banking and e-communications.

Barbados to Implement Updated Travel Protocols for Some Countries

These countries include Dominica, Grenada, Anguilla, Antigua and Barbuda, Cayman Islands, St. Lucia, New Zealand, Finland, Montserrat, St Kitts and Nevis and St Vincent and the Grenadines.

Conyers - Alert - Single Family Offices – Regulation under the Securities Investment Business Law

“Single family” in this context means an individual or a group of individuals who are connected in at least one of the ways set out in Schedule 4A of SIBL

Golden passports: the EU must act

The European Commission published a comprehensive report on ‘citizenship-by-investment’ (golden passports) and ‘residence-by-investment’ schemes operated by a number of EU Member States in January 2020.

Maltese regulator shuts down MPM Capital Investments

The Malta Financial Services Authority (MFSA) has revoked the licence of MPM Capital Investments and issued its directors with 10-year bans following a series of breaches.

British Virgin Islands - Voluntary Liquidations for Second Half Year Companies

It is time to plan the liquidation of entities that are at the end of their life cycle to avoid unnecessary fees.

Highlights of the Mauritius Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) (Miscellaneous Provisions) Act 2020

Companies registered in Mauritius were already required to disclose information on their beneficial owners

Important Changes To Guernsey's Document Duty Law

The Amendment also clarifies a number of transfers made by trustees that shall be considered as exempt transactions.

Regulation, Risk & Compliance