Managers of Wealth Offshore

A four year strategic focus for the JFSC

As well as focusing on financial crime, over the next four years the JFSC will prioritise developing its approach to supervising businesses and strengthening its own organisational resilience.

Cayman/Jamaica visa disparity flagged

McLaughlin reminded lawmakers that visas and entry of people into the country are considered a matter of national security.

SYZ Bank (Bahamas) becomes EAM after management buyout

The buyout is subject to regulatory approval, which is expected to take place in the coming months.

CSSF launches annual online AML/CFT survey

The survey has to be initiated and submitted within the eDesk by a member of the management of the supervised entity (preferably the AML/CFT compliance officer), while the completion might be entrusted to another employee of the entity, without prejudice

Collas Crill Explains... Striking Off a Jersey Company

The Law gives the registrar the power to strike off a Jersey company from the register.

Guernsey brings home host of IFC awards

The other win was for Cazenove Capital, which was confirmed as Crown Dependencies Investment Management Company of the Year.

Irish Finance Act 2019 - Enactment of the EU Mandatory Disclosure of Cross-border Arrangements Directive (DAC6)

DAC6 can apply to transactions where no tax advantage results and transactions which are driven by purely commercial as opposed to tax planning motives.

Luxembourg Update: CSSF's Brexit Transitional Period Advisory

In anticipation of the UK's withdrawal from the EU, the Commission de Surveillance du Secteur Financier provided an update in respect of the status of the transitional period foreseen by the Brexit laws and the mandatory notifications procedure imple

33 new licenses for Cayman Islands in 2019

The total value of premiums at the end of 2019 was over $18 billion, a rise of $2.6 billion from 2018, with assets, $68.9 billion in total assets—an increase of almost $10 billion over a two-year period.

Mindful Wealth Successfully Completes VCC Pilot Programme With MAS

After MAS launched VCC framework, it has been running a pilot programme for selected Permissible Fund Managers who wished to register a new investment fund as VCC or re-domicile a foreign corporate entity as a VCC.

‘No surprise visits’ to Pilatus bank

Reasonable suspicion of money laundering in Enemalta deal

Trust industry sees new prospects amid regulatory pressure

Speed of regulatory change a challenge but new opportunities in Asian markets

Amendments Passed In LA To Enhance Cayman's Financial Services Industry

These bills seek to provide clarification of what constitutes a beneficial owner and corporate service provider responsibilities in gathering, recording and filing such information with the Registrar of Companies.

‘Cyberattacks, biggest threat to African businesses’

It cited an African cybersecurity study by Demadiur Systems Limited, which revealed that banks, insurance companies and government institutions in Nigeria spent an estimated sum of $270.22m in 2018 to prevent cyberattacks.

EU citizens in Jersey facing four-month wait for settled status

Subject to criminality checks, they are either granted a Pre-Settled Status or Settled Status, depending on whether they have lived in Jersey for less or more than five years.

BVI to spend an additional $150,000 on economic substance legislation

Queen's Counsel Michael Furness was hired in October 2018 to draft this piece of legislation for the territory's financial services industry as it needed to meet EU requirements to avoid being put on a blacklist.

Eagle Re issues first mortgage ILNs with exchangeable note feature

The reinsurance covers Radian’s eligible mortgage insurance policies in January through September 2019, excluding single premium payment policies.

FPIs may skip Mauritius, Caymans

The development comes after the Securities and Exchange Board of India introduced new categorisation rules for FPIs in 2019.

Bermuda Is Planning a Comprehensive Crypto Ecosystem

Pitcher hopes to create a system that allows Bermudians to spend the digital currency they receive on government services and, in so doing, build a bridge to overseas economies.

Private Equity Fund Regulation In The BVI: Dawn Of A New Age Or Business As Usual?

We have a global network of experts on hand to advise clients who wish to alleviate the burden of understanding each offshore jurisdiction’s regulatory frameworks and requirements.

Regulation, Risk & Compliance