01/27/2020
More than £5 billion secured after crackdown on multinational companies diverting profits
The extra tax is due to reforms introduced in 2015 to tackle profit diversion.
Regulation, Risk & Compliance
01/27/2020
New regulatory regime for closed ended funds in the British Virgin Islands
A private investment fund is defined in the Amendment as a company, partnership, unit trust or any other body that is incorporated, registered, formed or organised under the laws of the BVI
01/27/2020
CySEC press release and policy statement on investment-based crowdfunding rules
In turn, the policy statement summarises the feedback received in response to the Consultation Paper and sets out CySEC’s final position on the subject matter.
01/24/2020
Liechtenstein Regulators Approve Ethereum-Based Real Estate Fund
A fully regulated tokenized real estate fund has been approved by officials in Liechtenstein.
01/24/2020
Gibraltar regulator overhauls management structure
The new and wider management team will continue with the GFSC's stakeholder engagement initiative both locally and internationally to ensure a positive climate for the benefit of Gibraltar's financial services industry.
01/24/2020
European Commission seeks public consultation on an EU framework for cryptoassets
The European Commission (EC) published a consultation document in search of opinions on a regulatory framework for markets in cryptoassets.
01/24/2020
Expanded regulatory oversight for Cayman Islands funds
A private fund is prohibited from accepting capital contributions from investors in respect of investment interests until is registered by CIMA.
01/24/2020
Austrian Banks Elude Criminal Probe Despite New Findings
The lawyer was hired by Browder who suspected that his Hermitage Capital was misused to facilitate the theft of $230 million of public funds through fraudulent tax refunds.
01/24/2020
Jersey announces Ministerial Decision on Brexit regulations
Senator Ian Gorst commented: “The Government of Jersey has been working since the announcement of the UK referendum on EU membership in 2016 to ensure Jersey is fully prepared for all Brexit-related scenarios.
01/23/2020
The Void Filled: Constitutional Vacuum In Grandfathered Bearer Share Companies
The transitional provisions also contained provisions enabling the company to force the redemption of outstanding grandfathered bearer shares.
01/23/2020
UK FCA becomes AML/CFT crypto supervisor
The development comes under the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs)
01/23/2020
ZEDRA announces attractive regulatory updates by the Guernsey Financial Services Commission that will allow EBT Trustees to make payments to ex-employees in a more streamlined way.
Guernsey has always been a fantastic place to set up an EBT
01/23/2020
Panama to introduce a beneficial owner register
The Bill requires resident agents to file relevant information
01/23/2020
COMMENTARY — Brexit seen as likely to benefit offshore
The City of London will use offshore finance destinations to buttress its profitability as it hits a buffer in an EU that is intent on replacing the City’s pre-eminence with European cities such as Frankfurt, Berlin and Paris.
01/23/2020
Data Protection Commissioner calls for a culture of improvement
The Bailiwick’s Data Protection Commissioner, Emma Martins, notes that changing attitudes and behaviour is key to reducing data breaches and preventing harm.
01/22/2020
The Cayman Islands offer portfolio diversification to investors
To keep up with competitors around the world, European companies must channel more funding into research and development. The Cayman Islands is opening up businesses’ access to capital through diverse investment options
01/22/2020
Nevis International Bank & Trust and Kroll Launch Global Collaboration on Best Practices Regulatory Compliance
The collaboration will allow NIB&T to leverage Kroll's expertise and augment NIB&T's footprint servicing a fast-growing private banking and corporate banking global clientele.
01/22/2020
Private Funds Bill 2020
The Bill will be considered by the Cayman Islands Legislative Assembly on 30 January 2020 and, thereafter, drafted into law.
01/22/2020
S&P improves its assessment of outlook for Guernsey
These strengths are offset by the external risks to Guernsey’s economy and policymaking framework, and its lack of meaningful monetary flexibility.”
01/22/2020
European Union: The General Election And The Future Of Brexit - What It Means For Guernsey Funds
Brexit will therefore have no direct impact on the Channel Islands' financial services industries.