Managers of Wealth Offshore

DAC6 – Extension of Cyprus Reporting Deadlines

The first periodical reporting by the Cypriot Tax Authorities to other interested countries will take place on 30 April 2021.

Xceedance partners with BriteCore to support systems integration

P&C insurers urgently need to adopt new digital capabilities to improve services and increase efficiency, are making investments in cloud technologies and digital channels.

Cayman joins neighbours in pursuing a "Global Citizen Programme"

It is also in keeping with the new trend of working from home since the onset of the pandemic and would not displace jobs in the host country.

Bermuda’s Incorporated Segregated Accounts Act: Six Months on

This month, Apex’s Matthew Charleson and Graham MacDonald wrote for Thomson Reuters Regulatory Intelligence on the ISAC Act and its potential uses.

Artificial intelligence to nab tax evaders

Any “purported extension” of current list of SFTs will not impact the honest taxpayers as they are not required to file details of high value transactions in ITRs, an official said.

ILS new issuance spreads widen by up to 30% due to COVID-19: Swiss Re

That caused spreads on new issuances to follow the trend of the secondary market, Swiss Re explained.

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

Regulation, Risk & Compliance