Managers of Wealth Offshore

Bermuda prepares to end its state of emergency on June 30

Bermuda has been relatively successful in containing its outbreak.

Physical distancing guidelines update

Licensed venues (for example, pubs) will be able to provide an alcohol-only seated service from 01 July, provided the number of cases remains low.

Does the threat of being blacklisted change behavior?

Regression discontinuity evidence from the EU’s tax haven listing process

Fidelity CEO admits breaking law

Fidelity has around 11,000 members in its pension fund

Ultra-Rich Monaco Wants to Fund Social Impact Projects With Security Tokens

Given Monaco’s high concentration of wealth (one in every three people is a millionaire and the place attracts hundreds of billionaires), it’s surprising it doesn’t have much of a financial center – like the comparably small Lichte

Tynwald vote not to kick pension can down the road

Middle MHK Bill Shimmins accused Mr Thomas of trying ’to kick the can down the road for another six months’.

Equity Trust fined £115k over money laundering vulnerability

Shortcomings were found in the identification and monitoring of ‘Politically Exposed Persons’ – customers in prominent public roles, putting them at higher risk of bribery and corruption.

'Pioneering' Manx ruling settles the law on 'mistake'

’HMRC provided submissions in the proceedings but again, declined to participate.’

Cyprus: Corporate Measures undertaken by the government in response to COVID-19

The annual returns (HE32) with preparation date from 01/01/2020 to 31/12/2020 may be submitted to the RoC

The future of Ireland’s funds industry post COVID-19

Opportunities lie in four key areas: funds industry service provision, technology, portfolio and risk management, and fund governance.

GFSC issues public statement and imposes civil penalty for failure to fulfil the minimum criteria for licensing

Update prepared by Helen Wyatt (Partner, Guernsey) and Annaliese McGeoch (Associate, Guernsey)

Compre to establish presence in Bermuda

Compre will finalise details with the BMA in the coming weeks.

Treasury Minister announces timetable for two tax changes

In addition, plans to charge interest on new tax debts will now be deferred until 1 January 2022 at the earliest.

Bahamas ‘Obvious Target’ For Hackers

Everyone is going to get attacked, and especially ourselves and the likes of Cayman and Bermuda, because we have all these companies domiciled here.

Companies Urged To Focus On It System Weaknesses

The way the Internet is set up now we all can find access to resources that store information.

Cayman Islands introduces regulatory regime for virtual asset service providers

The framework makes Cayman an attractive destination for VASPs

Mourant defends claim against the GFSC

Former company director Alan Chick claimed that the GFSC breached his human rights during an investigation it carried out into his conduct when working in financial services.

'Financial grooming' on the rise

The regulator said this was just one example of the type of financial grooming they are increasingly seeing.

Solvency II solutions when choosing reinsurance from Guernsey

Jason Noronha, Head of Actuarial and Analytics at Aon, who heads the firm’s non-life insurance actuarial consulting team, clarifies Solvency II regulations as they relate to reinsurance from Guernsey.

States specify businesses worst-hit by pandemic

The expectation is that businesses in sectors that are more reliant on tourist trade will be hardest hit and far more likely to require support over this extended period.

Regulation, Risk & Compliance