03/25/2020
How The Bahamas Is Tackling Coronavirus
Residents can leave their home for essential travel, meaning doctor visits, grocery shopping, pharmacy visits or refueling, for example.
Regulation, Risk & Compliance
03/25/2020
Cayman to be put on lockdown
All non-essential businesses will imminently be required to close, unless they can operate with staff working from home.
03/24/2020
Malta sees 157% increase in suspicious transaction reports
The anti-money laundering unit also reported an unprecedented increase in the number of requests
03/24/2020
Ireland Update: SFTR reporting update issued by ESMA
The reporting obligations for credit institutions, investment firms, CCPs, CSD and relevant third country entities will now all commence on 13 July 2020
03/24/2020
Mutual Funds - Enhanced Information Required for Annual Returns
The 2020 Regulations also require information to be disclosed in relation to the number and net asset value holdings of the “top five” types of investors and nominee investors
03/24/2020
Recognized but not Compromised; English Court recognizes Brazilian insolvency over dissolved company
This decision confirms the commitment of the courts to exercise their discretion in a manner to uphold the framework of cooperation in cross border insolvency.
03/24/2020
Cayman Immigration and Employment Questions Arising Out of Covid-19
Notice pay is determined by reference to the contract of employment. Where no notice period is prescribed it is deemed to be the interval between pay days.
03/24/2020
Cayman Set to Introduce New Virtual Asset Legislation
The Bill defines virtual asset services as providing one or more of the following services or operations for or on behalf of a natural or legal person
03/24/2020
The growing popularity of Jersey funds
The stable political environment and very proactive regulatory and governing bodies make Jersey a very popular jurisdiction with ZEDRA’s clients
03/24/2020
Gov’t preps to deal with ‘lean times’
Government is also considering an increase in borrowing, McLaughlin told the press.
03/24/2020
Caribbean Resorts and Destinations Expand COVID-19 Restrictions
“As the global community grapples with the effects of the Covid-19 pandemic, the safety, and well-being of our staff, partners, guests and citizens of The Bahamas are our top priority,” the statement adds.
03/24/2020
Bermuda: Economic Substance Industry Notice
As Bermuda responds to the effect of COVID-19, the Registrar acknowledges that business continuity is challenging and as such, where meetings or other similar compliance measures are not possible due to necessary travel or quarantine restrictions, this ma
03/23/2020
A time for Caribbean unity
Subsequent to this meeting, there have been about one hundred Covid-19 cases in the Caribbean, with four deaths.
03/23/2020
Saint Lucia-based Caribbean Association of Banks remains open for business
The health and safety of our team is paramount, and so we have asked them to work from home for the time being.
03/23/2020
Malta’s FIAU slaps Credorax Bank with €51,000 fine
In a separate FIAU notification, the unit said that an unnamed notary had been ordered to improve anti-money laundering controls.
03/23/2020
Follow the money: How to combat money laundering
Firms need to understand the risks and be alive to the constantly evolving threats in the landscape, as there is no one-size-fits-all approach to AML, says Louise MacDonald of HMRC’s Fraud Investigation Service.
03/23/2020
Financial Services Update – Cayman Islands Government
The Ministry addressed a number of matters as part of its business continuity plans in relation to the coronavirus (COVID-19) pandemic.
03/22/2020
Bahamas Strengthens Its Protections Against COVID-19
The Bahamas Ministry of Tourism & Aviation continues to implement updated protocols and protection measures, guided by the Ministry of Health and other government agencies, in alignment with the country's Preparedness and Response Plan for COVID-
03/22/2020
Minister lays down the law on closures
A $500 a day penalty will also be imposed for continuing offences.
03/21/2020
JERSEY: Late fees capped for annual returns
You can still get a certificate of good standing regardless of whether we still need to process your return.