Managers of Wealth Offshore

Malta’s anti-money laundering regime fails final Moneyval review

PN asks what the government is going to do about it

Mauritius Regulatory Update

As a competitive offshore jurisdiction of choice, Mauritius continues to grow steadily to further promote its capabilities and opportunities to investors.

Landscape of Bermuda financial sanctions

Financial sanctions are imposed to combat money laundering, terrorist financing and the development of weapons of mass destruction.

ECCB to launch pilot digital currency project

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.

Bermuda raises retirement age for public servants

Pearman said that, while some might be concerned that an increase to the retirement age might slow the ability of younger workers to move up the ranks, that concern was outweighed by other factors.

Trustees’ liens: first in time, first in line

Equity Trust maintained its claim took priority over the Z II Trust’s other creditors.

Trinidad and Tobago Appeal - The Importance of Transparency

Having ruled on the regulations, the Privy Council turned to the disclosure which had been made by the Commission to the Court in the judicial review process, and criticised the unfortunate lack of transparency about the appointment process.

Guernsey meets family office need for expertise and professionalism

“Jurisdictions like Guernsey, who can give a lot of support given their expertise in this sector, can become the main infrastructure for the family office,” she said.

UK dirty money plan stirs ‘policy capture’ debate

Banks avoid new criminal law, as government relies more on public-private model to fight money laundering.

British Virgin Islands - Update on substance rules for BVI companies and limited partnerships

Depending on the assessment, some BVI entities must establish economic substance in the BVI in order to comply with the requirements of the Act.

European reinsurers can claim capital credit from Guernsey reinsurers

There is no reason why the benefit of that reinsurance should not be recognised under the Solvency II capital calculation.

Growth in Ogier's dedicated Compliance and Take on Team as specialists step up to senior roles

The dedicated Take on Team has grown from six at the end of 2017 to a full complement of 20, supported by the firm's Service Innovation Team and process mapping experts.

Campbells successfully acts for the Defendants in the matter of Steven Goodman v Dawn Cummings and DMS Governance Ltd.

The Judgment is a vindication of DMS and Ms Cummings and serves as a useful reminder to those that seek to pursue vexatious claims against independent directors and professional fund governance companies in the Cayman Islands.

Combating financial crime - KPMG

3 focus areas for banks to achieve more effective and efficient customer due diligence

One of the largest offshore fund managers to pay back $860 Million

Settlement wraps up one of the largest remaining disputes in liquidation of Bernard Madoff’s Ponzi scheme

CIISF to hold cyber threats seminar

It will demonstrate how to incorporate threat intelligence and use defensive tactics.

ZEDRA Jersey raises funds for NSPCC projects

‘ZEDRA is a global firm but our ethos is to make sure we support local charities actively in various ways and, in doing so, we are able to make a positive, practical and ongoing contribution to the communities around us in which we work.

Economic substance rules – an update

As a first step, we are helping our clients to analyse and understand where their entities are tax resident and whether their activities are affected by the legislation.

Civil Financial Penalties on Principal Persons: Methodology for determining the amount

The circumstances of each case will be different and the JFSC will apply each step in the methodology with the necessary degree of flexibility and discretion that the particular case will merit.

JFSC enforces first financial penalty on Sanne

The regulator has imposed a civil penalty of £381,010 on Sanne Fiduciary Services Limited and has issued a public statement with details of why it was necessary to impose the penalty.

Regulation, Risk & Compliance