Managers of Wealth Offshore

Decade-long Saad litigation settled between AHAB and Grant Thornton Defendants

The case continues against the other Defendants in the case.

Use of Jersey and Guernsey Structures by US Managers Targeting European Capital

In the current politically driven regulatory climate, managers/promoters in the major US fund centres are increasingly looking for alternative ways to structure investment vehicles suitable for and acceptable to their European domiciled investor base.

Cyprus officials implicated in plan to sell passport to criminals

Al Jazeera’s investigation reveals how senior Cypriot officials discussed ways to provide citizenship to a convicted criminal.

Governance Guernsey: Creating a sustainable future

The importance of organisational purpose has been thrown into sharp relief by the pandemic, with the general public keeping a watchful eye on an organisation’s social and environmental impact.

Consultation on proposal to increase banking fees

The JFSC’s enhanced supervision activities over the last two years in respect of banks have required additional supervisory effort and continue to bear higher costs.

Corporate Transparency and Register Reform

UK Corporate Entities - UK Government publishes Corporate Transparency and Register Reform

British Virgin Islands to introduce public register of company owners

The territory’s secrecy rules have long attracted criminals and secretive companies created there have featured in several ICIJ investigations on offshore finance.

BMA registers eight new insurance entities in September

The Bermuda Monetary Authority registered eight new insurance entities in September.

The BMA’s Jeremy Cox to be awarded a CBE

Jeremy Cox, the executive chair of the Bermuda Monetary Authority (BMA) is being awarded a Commander of the Order of the British Empire (CBE) as part of the 2020 Queen’s Birthday Honours.

OECD drafts principles for $100bn global corporate tax revolution

Technical blueprint would upend taxation of US tech groups but still needs political agreement

Changes to Jersey’s Social Security pension age and approved Jersey pension schemes

Update prepared by Ed Devenport (Partner, Jersey) and Carly McIver (Senior Associate, Jersey)

Exchange of information with 86 countries on around 3,1 million financial accounts

These countries have claimed technical difficulties due to the COVID-19 crisis.

Guernsey fintech business The ID Register spins out of Apex Group

Each investor controls their own information in a profile, which, once approved, they can connect to their investments and service providers like a “passport”.

European Lawmakers Are Looking For New Ways To Fight Money Laundering In The Wake Of The FinCEN Files Investigation

“The FinCEN Files illustrate the vast scale of the problem,” Šuica said.

No Swearing Please – Ireland Updates its Rules on Written Evidence

The Act is an omnibus one and addresses various matters, however this advisory focuses on the introduction of statements of truth into Irish law for the first time.

Commonwealth Finance Ministers call for extended financial support for vulnerable nations

It also appeals to multilateral development banks to be more flexible in their treatment of the impact of COVID-19 so that countries have easier access to financing.

The offshore cash conundrum solution

Offshore policy wrappers offer some real solutions to some of the potential issues with investing offshore.

Lost trust: leaked files expose Jersey’s inaction on fraud scandal

But behind the scenes, it used client money for personal expenses by borrowing from clients under the guise of investments and onboarding new clients to repay the existing ones.

Eastern Caribbean Central Bank calls for resilience to Covid-19

The topic: financial empowerment through education advocates this year for the resilience of ECCB´s members in order to counterattack stressful economic events such as unemployment, divorce, disability and health issues.

Trina Solar Limited and the meaning of 'fair value' in s.238 fair value appraisal cases

The Court held that it is not bound to determine value based only on a hypothetical sale on the open market

Regulation, Risk & Compliance