Managers of Wealth Offshore

Malta’s FIAU sees spike in reports about suspicious activity

According to the last FIAU annual report, banks and remote gaming companies reported the most suspicious activity among their clients.

Jurisdictions move towards full implementation of standards for financial market infrastructures

The CPMI and IOSCO encourage jurisdictions to continue to adopt measures that will enable them to fully implement the PFMI.

Switzerland: New rules on inter-cantonal tax allocation established

Daniel Stutzmann and Manuel Angehrn of Deloitte Switzerland consider how the Swiss tax reform has led Swiss cantons to move towards a ‘function-based’ tax approach.

Signing on – how Guernsey makes business easier in unprecedented times

Craig Cordle, partner at Ogier in Guernsey, explains how the island’s foresighted legislation is facilitating electronic transactions for businesses.

COVID-19 vs fund managers: IQ-EQ speaks to law firm Foot Anstey

Although many investors are adopting a ‘wait and see’ approach in terms of making an investment, now is actually a good time for them to be carrying out due diligence.

Govt to urge OECD to give downgrade second-look

The report downgraded Barbados from a “largely compliant” to a “partially compliant” rating.

A Stable Framework for a Changing World

The implementation of the Register of Beneficial Owners (RBO), was yet another critical step-change which has “greatly enhanced the transparency” alongside other various Directives.

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.

Regulation, Risk & Compliance