Managers of Wealth Offshore

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.

December Quarter 2019 Investment Statistics

Over the past year, total net asset values decreased by £13.3 billion (-4.7%).

Duff & Phelps releases Global Regulatory Outlook

The survey found that only 33% currently see London as the foremost global financial hub, falling more than 20% over the past two years.

Will the UK backtrack on offshore public registers?

Now that the UK has made its long-awaited exit from the EU, the Conservative government has the opportunity to reverse its commitment to public registers of beneficial ownership in crown dependencies and overseas territories.

New ESG Disclosure Requirements for Asset Managers

A new EU Disclosure Regulation has been made regarding disclosures by asset managers and investment funds relating to sustainable investments and sustainability risks.

Regulators looking at CIBC FirstCaribbean $797m deal

The consideration to be paid is made up of about $200m in cash and the remainder in secured financing provided by CIBC itself.

Guernsey reports surge in new captive numbers

Guernsey is responsible for more than a third of the European captives market.

Jersey and Guernsey regulators sign MoU

The MoU sets out how the two offices will work collaboratively in a number of key areas, further strengthening the cooperation requirements that are contained within the data protection legislation.

Blacklisting, de-risking hurt Caribbean

Inclusion of The Cayman Islands in the EU blacklist regime came as a shock to most because that territory was thought to be compliant with legal requirements, though regarded as a tax haven.

KPMG issues warning to IoM firms in breach of economic substance rules

"As many companies will now be in their second period to which the rules apply, the stakes are getting higher," said Rotherham.

The Cayman Islands has been added to the EU Blacklist. What Now?

EU Member States have been encouraged to apply additional administrative measures regarding structures or transactions with jurisdictions on the EU blacklist.

Regulation, Risk & Compliance