Managers of Wealth Offshore

UPDATE 1-Swiss revamp antiquated money laundering, terrorism finance report system

Switzerland, the world’s largest repository for offshore wealth

MS Amlin restructures business to strengthen international collaboration

James Illingworth will also step down as chief underwriting officer, but retains his seat as a non-executive director of the group in the near term.

BVI Securities And Investment Business (Amendment) Bill

The FSC will have the power to issue regulations to supplement the legislation (Regulations).

Bermuda to be ‘less affected’ by Brexit

“Bermuda is less affected than some other overseas territories as we do not receive aid from the European Union."

BVI to embrace digitalisation to further innovate funds industry

Weak links, whether large or small can have significant effect and impact.

Cayman National Bank IOM confirms customer account details stolen in hack

The bank warned stolen details could be used for "fraudulent purposes" and said it would contact customers affected.

Vattenfall chief calls for 'EU-level offshore vision'

Industry facing “unprecedented pressure” Gunnar Groebler tells Offshore2019 delegates

11 POGO branches shut due to tax violations, BIR says

The government has intensified its crackdown on illegitimate operations following a plea from China to "punish" firms that illegally recruit its nationals.

Why Guernsey and Jersey should be in your UK/European tool kit

The mature and stable regimes of the Channel Islands offer Asia-based managers an efficient hub to manage capital flows across the world, write Carey Olsen's Andrew Tually and Susan McKinstray.

Switzerland pushes for more financial transparency

The Swiss parliament is likely to examine the proposal for the first time in the 2020 spring session.

Bermuda Updates Outsourcing Guidance

This guidance will come into force on 1 May 2020 and replaces previous guidance on outsourcing issued in 2007.

Switzerland pushes for more financial transparency

The Swiss parliament is likely to examine the proposal for the first time in the 2020 spring session.

Summary of key points of additional implementation guidance on CbC reporting

The guidance clarifies that, consistent with the definition of revenue, profit (loss) before income tax (PBT) excludes payments received from other constituent entities that are treated as dividends in the payer’s tax jurisdiction.

Luxembourg Updates: CSS AML/CFT Investment Market Entry Forms

Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier, issued a press release regarding the availability of two AML/CFT investment market entry forms.

Ogier Latin American team bring their expertise to CAIS Brazil

They will be taking part in panel discussions which also feature presentations from investor, hedge fund manager and philanthropist Mark Yusko and Jude Scott, CEO of Cayman Finance.

Economic substance requirements for Jersey companies

EU Finance Ministers signalled their approval of the Substance Law by whitelisting Jersey on 12 March 2019.

Policy & Resources Committee publishes detailed Economic Substance guidance

The additional detail published today on how these rules work in practice builds on the guidance issued when the legislation was made.

Past Govts 'Negligent' On $160m Btc Pension Hole

The agreement also required the government to make annual “top-ups” to the plan as required to cover any future payments, but neither these injections nor the original $39m payment were ever made.

Changes to US Visa system will impact Caymanians

Seibel says just about 1,400 Caymanians apply for US visas each year.

Blacktower opens ‘fully regulated’ Cayman business

To offer financial planning services on the island EmailFacebookTwitterLinkedInPrint

Regulation, Risk & Compliance