Managers of Wealth Offshore

Imminent risk of personal fines for NEDs warned by Club NED

The fines have been getting bigger for organisations, and in Guernsey, an individual has faced fines too.

Conyers Advises Fix Price On Largest Ever BVI IPO

The IPO is the largest ever listing for a Russian retailer and the largest Russian IPO since 2014.

Additional clarification on the application of SFDR and Article 8 of the Taxonomy Regulation

Publication of a joint statement of the European Supervisory Authorities with respect to the application of SFDR

The Bahamas Removed from the French List of Non-Cooperative States and Territories in Tax Matters.

The French Government has imposed a number of sanctions on blacklisted countries, including applying withholding taxes at a higher rate on financial transactions involving blacklisted countries.

Regulator denies Jersey is “back door" after disgraced financier announces local venture

The head of Jersey’s financial watchdog has said that a disgraced fund manager’s attempts to start a new venture in Jersey have led to the impression that the island can be used as a “back door."

FIU uncovers $27B in suspicious transactions

In the reporting period between 2019-2020, the FIUTT adjusted its supervisory activities due to the challenges of COVID-19.

Country lists updates to the Handbook and Instruction

The amendments include the removal of the Cayman Islands from the list of equivalent jurisdictions

Jersey financial regulator attacks Neil Woodford’s relaunch plan

Channel island vows to uphold strong protections for fund investors

Anti-money laundering: Cayman is held to a higher standard

The move does not directly impact doing business with or through the Cayman Islands. But being placed on the FATF’s so-called grey list is a blow to Cayman’s reputation as a financial centre.

Anti-money laundering: Cayman is held to a higher standard

The move does not directly impact doing business with or through the Cayman Islands. But being placed on the FATF’s so-called grey list is a blow to Cayman’s reputation as a financial centre.

Trust company fined $835,000 for opening ‘gateway to possible money laundering’ in Angola

An investment scheme involving tycoon Jean-Claude Bastos de Morais exposed in ICIJ’s Paradise Papers investigation bore “obvious” risks of possible corruption, a Jersey court finds.

Missing the mark? Why the future of beneficial ownership rules hangs in the balance

The onus is not on the individual but on the government to make the case.

Isabel dos Santos’ Maltese consulting firm served with $230,000 tax bill

The Angolan billionaire’s company had “no intention” to carry out economic activity in Malta, the island nation’s authorities said.

Update on the Cayman Islands and the FATF’s List of Jurisdictions Under Increased Monitoring

The inclusion of the Cayman Islands on the Monitoring List has no direct consequences for investors or clients using Cayman Islands structures.

Skipton International welcomes Stamp Duty Holiday extension

The holiday allows overseas resident purchasers to generate as much as a £15,000 saving on a property purchased at £500,000.

Cyprus to lift veil of secrecy with register of company owners

Experts predict some companies will shift jurisdiction rather than reveal their beneficial owners.

Ocorian acquires Guernsey-based compliance consultancy, Platinum Compliance.

Ocorian’s global operations and services are highly complementary to Platinum’s offering

Stage 2…“a lot to get to grips with”

This will be a big test, to see if it sparks a rise in cases of Covid-19 and to see how effectively we can find them and control them.

EBA Revises Guidelines on Money Laundering

The Guidelines are central to the EBA’s work to lead, coordinate and monitor the fight against money laundering and terrorist financing.

UK ‘will respect constitution’ on ownership registers

A PARTNERSHIP between the UK government and Crown Dependencies respectful of ‘constitutional boundaries’ will deliver progress on publicly-accessible registers of company beneficial ownership.

Regulation, Risk & Compliance