10/16/2019
Luxembourg Update: CSSF Mandatory Notifications October-2019
On 11 October 2019, the Commission de Surveillance du Secteur Financier issued a press release in relation to Brexit.
Regulation, Risk & Compliance
10/16/2019
The Crown Dependency of Guernsey: Constitutional Insights
This is a substantive academic issue in its own right but the purpose of this note is to clarify the key facts and issues surrounding this topic.
10/15/2019
MEP calls for stronger EU anti-money laundering efforts amid Deutsche Bank withdrawals
Deutsche Bank's cutting of ties with five eurozone countries is embarrassment for European Banking Union, Sven Giegold says
10/14/2019
Irish Budget 2020 - A Roadmap for Irish and International Business
The annual Irish Budget provides a platform for the Irish Minister for Finance to announce tax changes and also to take stock of Ireland's economy and strategy for future growth.
10/14/2019
Cyprus, Malta lead EU ranking of $1.6 trillion assets held offshore
Offshore holdings, although in many cases completely legal, could help taxpayers hide taxable money and cut their bills if they stash their savings in low-tax jurisdictions.
10/14/2019
Deutsche Bank pulls the plug on Malta
Deutsche Bank has come under intense regulatory scrutiny across the globe over its processing of dirty money, some of which came about as a result of its correspondent banking relationships.
10/14/2019
GFSC proposes financial crime updates
A short memorandum and redlined draft of Chapter 17 of the Handbook outline the proposed changes.
10/13/2019
The Non-Resident Landlords Scheme
If your clients have entities with UK property which is generating rental income, they should ensure that appropriate returns are filed and tax paid by 31 January 2020.
10/13/2019
Bermuda Expands Licensing Regime to Include Digital Assets Derivatives
The DABA Amendment extends the scope of digital asset business activities that are captured under the Digital Assets Business Act, 2018
10/11/2019
HSBC to close eight branches across Malta
The bank also announced "subject to MUBE agreement, a reduction in roles within the organisation on a voluntary basis".
10/11/2019
Virgin Islands approves budget that doesn’t address pension gap
It was largely like the budget he proposed to the Senate in late May.
10/11/2019
Considerations for terminating registration of your Cayman Islands entity before 2020 fees and filings are due
The strike off method is best suited to an entity that is inactive with no assets, liabilities or creditors.
10/10/2019
Cayman Signals Willingness to Abandon Corporate Secrecy – But Not Yet
Pressure on tax havens to abandon corporate secrecy follows several large data leaks
10/10/2019
Cayman Islands joins global money-laundering crackdown
Anti-corruption campaigner Global Witness said all other British Overseas Territories should take similar action.
10/10/2019
Escrow Agreements in Merger and Acquisition transactions – here’s what you need to know
Escrow arrangements help to minimise the counterparty risk of non-completion or failure to deliver for each of the parties.
10/10/2019
Midshore starts US operation
Midshore USA aims to replicate the service lines offered in Guernsey
10/10/2019
Goodbye Active Optimus, Hello Aspida.
The shade of green was chosen to reflect growth, with the strapline of the brand clearly setting out the ethos of the relationship it strives to have with clients – ‘your partner in protecting and growing your business’.
10/09/2019
The Crown Dependency of Jersey: Constitutional Insights
This is a substantive academic issue in its own right but the purpose of this note is to clarify the key facts and issues surrounding this topic.
10/08/2019
Chambers Global Practice Guide 2019: Doing Business in Ireland Trends and Developments Chapter
Among other topics, the authors discussed how Ireland is well positioned as a location of choice for UK companies and new entrants seeking access to the EU post-Brexit.
10/08/2019
New Sebi rules to hit Mauritius and Cayman Islands hard, says report
Financial centres like Mauritius, Cayman Islands and Cyprus are not FATF members. FATF is an inter-governmental policymaking body which was set up at the 1989 Paris summit of G7 due to increasing concerns over money laundering.