03/10/2020
Cayman: Update in Respect of Automatic Exchange of Information
The FATCA Amendment aligns FATCA requirements with CRS requirements
Regulation, Risk & Compliance
03/09/2020
The Minister of Labour Issues Regulations of the Portable Retirement Gratuity Fund (PRGF)
The PRGF Regulations confirm the procedure to be followed in order to lodge claims under the PRGF
03/09/2020
Cayman Captive Forum mulls expanded agenda as industry absorbs CICA cancellation
To this end, it has been considering adding new sessions to broaden the scope of the subjects it addresses.
03/09/2020
Bermuda Tables Immigration Changes for Mixed Status Families
The Government of Bermuda tabled in the House today a Bill which would amend the Bermuda Immigration and Protection Act 1956 to address certain issues facing ‘mixed-status’ families
03/08/2020
Bahamas announces travel ban
Effective immediately, any non-resident who has visited South Korea, Iran or Italy in the last 20 days will be denied entry into The Bahamas.
03/06/2020
Pilatus banker’s defence: U.S. dollar payments were not meant to breach Iran sanctions
Ali Sadr Hasheminejad trial in New York: defence says prosecution witness who recieved $50,000 from Stratus did not breach sanctions
03/06/2020
Grand Court commends trustee's "text book" approach to deliberations
The Trustee applied to the Grand Court under section 48 of the Trusts Law and/or the court's inherent jurisdiction
03/06/2020
US Reveals How Wealthy Kenyans Laundered over Sh800 Billion Illicit Cash Stashed Abroad
It allowed Kenyans with money hidden in offshore accounts to repatriate it without disclosing the source.
03/06/2020
New Registration Requirements for Unregulated Investment Funds
"Funds" which are established for only one investor will be outside the scope of a "private fund" given the "pooling of investor funds" requirement.
03/06/2020
Ogier advises SEB Group on the acquisition of stake in Canadian school chain Maple Bear Schools
The acquisition was a major step in SEB Group's international expansion, following its initial acquisition of 95% of Maple Bear's South American operations in 2017.
03/06/2020
DFSA strengthens ties with Isle of Man regulator
The MoU establishes the framework for cooperation for the consolidated supervision of cross-border financial services activities, including retirement benefits schemes and employee money purchase schemes.
03/05/2020
Commission invests in Supervisory Technology
For these projects, Commission staff are working alongside UCL staff, researchers and Regul-AI-tion to explore ways in which new technologies can potentially augment the supervisory process and aid regulatory reporting and compliance.
03/05/2020
Competition authorities work with Statistics Unit to analyse telecommunications market
The first report will be published later in the year in autumn.
03/05/2020
Cayman Islands Trusts and the ‘rule in Hastings Bass’
To the extent that the exercise of the power is set aside by the Court under section 64A, it shall be treated as never having occurred.
03/05/2020
Economic substance in the BVI: a guide for directors and operators of BVI companies and limited partnerships
The Act came into force on 1 January 2019 and was effective immediately for relevant entities incorporated, formed or registered in the BVI on or after that date.
03/05/2020
OECD Pushes For $100 Billion Tax Increase On Mostly American Businesses
The OECD began its BEPS project in 2013 in response to concerns about corporations avoiding taxes with offshore accounts.
03/05/2020
Bahamas expands digital currency pilot
Users will be able to make payments or transfers in the absence of Wi-Fi or data capabilities.”
03/04/2020
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.
03/04/2020
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
03/04/2020
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.