02/11/2020
Barbados' economic substance rules brings an end to separate tax rates
The new requirements in Barbados are contained in the Business Companies (Economic Substance) Act, 2018.
Regulation, Risk & Compliance
02/11/2020
Buyers bemoan ILS need for models
These revelations will be of great interest to the ILS community in Bermuda as they clearly illustrate some of the barriers to growth that still exist in this market—and what needs to happen for these to be overcome.
02/10/2020
Key Amendments to Cayman AML Regulations and Guidance Notes
Changes to the AMLRs and the AML/CFT Guidance Notes to implement observations made by the CFATF in its Mutual Evaluation Report of the Cayman Islands.
02/10/2020
The Offshore Litigator's Perspective
It is our client's second win in the Privy Council in this litigation and our briefing on it is vital reading for those interested in the offshore funds industry
02/10/2020
Guide To Cryptocurrency Tax Rules
A profit is taxable as a short-term gain if a position has been held for a year or less, as long-term if held for more than a year.
02/07/2020
Amendments to Investment Funds Act passed
“The amendments also expand the provisions for sharing information with other regulators and adjusts the transitional period for the investment funds act 2019 to facilitate adjustments being proposed in the amendment bill itself.”
02/07/2020
NCB lost heavily on its commercial and consumer banking segment in 2019
Only business line not to make a profit in 2019
02/07/2020
Practice Direction Issued In Maritius For Disclosure Of Beneficial Ownership Information To The Registrar
The Registrar of Companies in Mauritius has issued a practice direction relating to the disclosure of beneficial ownership by companies and any other entities such as partnerships and foundations.
02/07/2020
A four year strategic focus for the JFSC
As well as focusing on financial crime, over the next four years the JFSC will prioritise developing its approach to supervising businesses and strengthening its own organisational resilience.
02/07/2020
Cayman/Jamaica visa disparity flagged
McLaughlin reminded lawmakers that visas and entry of people into the country are considered a matter of national security.
02/07/2020
SYZ Bank (Bahamas) becomes EAM after management buyout
The buyout is subject to regulatory approval, which is expected to take place in the coming months.
02/06/2020
CSSF launches annual online AML/CFT survey
The survey has to be initiated and submitted within the eDesk by a member of the management of the supervised entity (preferably the AML/CFT compliance officer), while the completion might be entrusted to another employee of the entity, without prejudice
02/06/2020
Collas Crill Explains... Striking Off a Jersey Company
The Law gives the registrar the power to strike off a Jersey company from the register.
02/06/2020
Guernsey brings home host of IFC awards
The other win was for Cazenove Capital, which was confirmed as Crown Dependencies Investment Management Company of the Year.
02/06/2020
Irish Finance Act 2019 - Enactment of the EU Mandatory Disclosure of Cross-border Arrangements Directive (DAC6)
DAC6 can apply to transactions where no tax advantage results and transactions which are driven by purely commercial as opposed to tax planning motives.
02/05/2020
Luxembourg Update: CSSF's Brexit Transitional Period Advisory
In anticipation of the UK's withdrawal from the EU, the Commission de Surveillance du Secteur Financier provided an update in respect of the status of the transitional period foreseen by the Brexit laws and the mandatory notifications procedure imple
02/05/2020
33 new licenses for Cayman Islands in 2019
The total value of premiums at the end of 2019 was over $18 billion, a rise of $2.6 billion from 2018, with assets, $68.9 billion in total assets—an increase of almost $10 billion over a two-year period.
02/04/2020
Mindful Wealth Successfully Completes VCC Pilot Programme With MAS
After MAS launched VCC framework, it has been running a pilot programme for selected Permissible Fund Managers who wished to register a new investment fund as VCC or re-domicile a foreign corporate entity as a VCC.
02/04/2020
‘No surprise visits’ to Pilatus bank
Reasonable suspicion of money laundering in Enemalta deal
02/04/2020
Trust industry sees new prospects amid regulatory pressure
Speed of regulatory change a challenge but new opportunities in Asian markets