Managers of Wealth Offshore

Cayman Islands’ re/insurance industry continues to thrive: CIMA

As at the end of Q2 2024, a total of 24 new international insurance licenses have been issued, marking a 50% increase over the same period in 2023.

Reducing human error in data protection: The crucial role of training and compliance tools

Training in data protection awareness helps to keep data protection at the forefront of employees’ minds

Managing risk is riskier than ever

The Jersey Financial Services Commission notes that Moneyval has led to the equivalent of a decade of regulatory and legislative change in the past two years.

Financial services activity, fee increases boost government surplus

Most financial services and licensing fees, which make up more than one-third of government’s annual revenue, are due in the first quarter.

NY regulator fines Nordea $35M over AML failures

The fine will have “no material impact” on Nordea’s financial position, the bank said.

Jersey Finance Welcomes Tokenisation of Real World Asset Guidance as Evidence of Jersey’s Maturity as a Virtual Asset Jurisdiction

Recognising the innovative potential of blockchain technology, the new guidance seeks to promote Jersey’s competitiveness as an international finance centre (IFC) by clarifying the JFSC’s regulatory expectations in relation to this technology.

Cayman Islands abolishes perpetuity rule in legislation

This adjustment does not affect Cayman Islands STAR trusts, which were already exempt.

Economic prosperity must align to Malta’s physical, demographic characteristics

'This situation is squeezing profit margins, forcing many business owners to seek desperate measures to survive' - Kevin J Borg

Proper analysis of bank fee hikes urged before reform

After CIBC Bahamas announced an increase in fees, FNM Leader Michael Pintard released a statement pledging to implement major reforms in the banking sector if the FNM wins the next election.

Consultation response released for draft cyber security law for Jersey

There was a feeling that provision could be made to require Banking and Financial Services Providers to enhance their cyber security resilience

Compliance sweep disrupts Cayman residents’ bank accounts

Butterfield Bank customers were alerted to the requirement, in most cases by email

URCA releases consultation document for 5G

URCA believes that the consultation document represents a significant step towards the introduction of advanced broadband connectivity in The Bahamas

Continuing obligations for BVI private investment funds

This note provides a quick reference to your PIF’s ongoing BVI obligations.

URCA proposes expanding content regulation to digital and social media in revised code

The Code does not comprehensively cover all aspects of digital or online content regulation

Financial services activity, fee increases bolster government’s financial performance

Most financial services and licensing fees, which make up more than one third of government’s annual revenue, are due in the first quarter.

Trademark law changes in the works to reduce fees

Ebanks said it is the government’s intention to have draft amendment legislation produced before the end of this year.

BMA registers four insurers

The BMA noted that the registration/licensing of approved insurance entities is issued after the IALC application process and may be confirmed in future periods.

Entrepreneurs and creatives to benefit from proposed changes to trade marks legislation

This proposal reflects the commitment made by the Deputy Premier and Minister of Financial Services and Commerce, André Ebanks MP

BOV launches new corporate social responsibility foundation

Bank marks another milestone in its 50-year history

Longshore Labs pairs Caymanian students with software development experts in apprenticeship programme

Young Caymanians selected for the programme are each paired with an experienced developer, or report to a developer or test engineer in Chennai.

Regulation, Risk & Compliance