Managers of Wealth Offshore

US Reveals How Wealthy Kenyans Laundered over Sh800 Billion Illicit Cash Stashed Abroad

It allowed Kenyans with money hidden in offshore accounts to repatriate it without disclosing the source.

New Registration Requirements for Unregulated Investment Funds

"Funds" which are established for only one investor will be outside the scope of a "private fund" given the "pooling of investor funds" requirement.

Ogier advises SEB Group on the acquisition of stake in Canadian school chain Maple Bear Schools

The acquisition was a major step in SEB Group's international expansion, following its initial acquisition of 95% of Maple Bear's South American operations in 2017.

DFSA strengthens ties with Isle of Man regulator

The MoU establishes the framework for cooperation for the consolidated supervision of cross-border financial services activities, including retirement benefits schemes and employee money purchase schemes.

Commission invests in Supervisory Technology

For these projects, Commission staff are working alongside UCL staff, researchers and Regul-AI-tion to explore ways in which new technologies can potentially augment the supervisory process and aid regulatory reporting and compliance.

Competition authorities work with Statistics Unit to analyse telecommunications market

The first report will be published later in the year in autumn.

Cayman Islands Trusts and the ‘rule in Hastings Bass’

To the extent that the exercise of the power is set aside by the Court under section 64A, it shall be treated as never having occurred.

Economic substance in the BVI: a guide for directors and operators of BVI companies and limited partnerships

The Act came into force on 1 January 2019 and was effective immediately for relevant entities incorporated, formed or registered in the BVI on or after that date.

OECD Pushes For $100 Billion Tax Increase On Mostly American Businesses

The OECD began its BEPS project in 2013 in response to concerns about corporations avoiding taxes with offshore accounts.

Bahamas expands digital currency pilot

Users will be able to make payments or transfers in the absence of Wi-Fi or data capabilities.”

Mauritius on the FATF grey list

Securities and Exchange Board of India confirmed that FPIs from Mauritius would continue to be eligible for registration with increased monitoring as per FATF norms.

MLROs being challenged by Guernsey's suspicious activity report regime

Speaking at the firm's latest regulatory conference in Guernsey, titled 'To SAR or not to SAR

Jersey’s Commitment to Africa Highlighted Through New Publication

Jersey’s evolving political, commercial and cultural ties with the African continent were highlighted through the launch of a new publication at an event in London this week.

Aspen enters adverse development cover reinsurance agreement with Enstar

It is expected to close in the first half of 2020.

Jersey banking and funds sectors report strong end to 2019

Corporate activity was also up year on year, with the number of company formations 5% higher in 2019 than the previous year.

Bermuda braces for coronavirus

“We’re telling everybody to get hand sanitiser and to carry it with them.”

How transparency and data privacy will shape the future of IFCs?

Laws do not always operate in concert and, as they proliferate, confusion is bound to increase.

Mauritius Regulatory Update

This is the second in a series of Mauritius Regulatory Alerts in which we bring you an overview of the latest legal and regulatory developments in the offshore world, with a particular focus on Mauritius.

DFSA strengthens relationship with Isle of Man Financial Services Authority

Collaboration is crucial in enabling the DFSA to maintain the integrity, efficiency and financial stability of the Financial Services industry in the Dubai International Financial Centre.

Morocco Discusses Cooperation Prospects with Malta, Portugal

The ministers dicussed how European countries can benefit from enhanced cooperation with Morocco.

Regulation, Risk & Compliance