04/30/2019
Four (Digital) Candles
The Ordinance confirms that the creation, formation, execution and performance of binding contracts can be effected by computers without human intervention.
Regulation, Risk & Compliance
04/30/2019
Guidance on Guernsey's economic substance requirements published
The Code of Conduct Group were then instructed by the EU Council to undertake a screening process whereby jurisdictions, including Guernsey, were assessed
04/30/2019
Money Laundering and the Regulations: When to Report ‘Suspicious Activity’
Where a suspicion does arise, a report to the National Crime Agency may be necessary to obtain a defence before handling such property or becoming concerned in such arrangements.
04/29/2019
Are OfReg’s troubles ‘growing pains’ or something more?
But lawmakers, rightly, took the opportunity to question what returns Cayman’s residents have thus far reaped from government’s considerable investment in OfReg.
04/29/2019
The mind-boggling scope of HMRC’s new systems
Taxpayers need to be aware that it will be used increasingly – thus placing a higher burden on taxpayers, since the onus is on them to prove their returns are correct.” Says Jessica McLellan, a Director in Tax Risk at Blick Rothenberg.
04/29/2019
New Program to Increase Bahamian Ownership of Gov't Assets
The Bahamian people will be empowered to own their own complexes and have returns of 5-6 per cent as opposed to 0.5 per cent as is given in the bank.
04/29/2019
Legislators to join international seminar
CPA members travelling to Bermuda from the UK will include the CPA secretary-general, Akbar Khan.
04/29/2019
Guernsey Green Finance keen to develop green insurance
Mike Johns, Chairman of GIIA, said: “We do not believe that policyholders should be exposed to unnecessary risk so that the insurer may pursue green and sustainable initiatives.
04/26/2019
The Private Trust Companies Regulations in the Cayman Islands
This required substantial disclosures and approvals and other ongoing vetting and regulation by CIMA including a capital requirement and the requirement for an annual audit.
04/26/2019
Implications of the BVI Economic Substance Act
Pre-existing entities which are in existence on 1 January 2019 will need to demonstrate economic substance requirements no later than 30 June 2019 and meet reporting obligations within one year of that date.
04/26/2019
Public access to information: a review
The team at the ICO is headed by the Information Commissioner.
04/26/2019
Aircraft Liens and Detention Rights - Isle of Man Chapter
Andrew Webb and Alexandra Dernie provide the Isle of Man contribution to Sweet & Maxwell's global guide, Aircraft Liens and Detention Rights.
04/26/2019
The current status of SAMLA in the BVI and the Cayman Islands
The UK imposes all financial sanctions created by the United Nation's Security Council and the EU
04/26/2019
Bermudian bank acquires Channel Islands business
Deal is expected to close during the third quarter of 2019
04/26/2019
Development Bank still grappling with loan delinquencies
The Development Bank repossessed nearly $10 million of collateral during the 18-month period ending June 30, 2016, and more than $8 million the next period.
04/26/2019
BVI investment funds not subject to economic substance rules
This guidance confirms that an entity will be treated as carrying on a relevant activity in the BVI during any financial period in which it receives income from that activity.
04/26/2019
Cayman Islands: A Clean Bill Of Health - For Now
Anti-money laundering and anti-terrorist financing legislative regimes meet the highest international standards, and the Cayman Islands commitment to compliance is unwavering.
04/25/2019
New anti-money laundering regulations come into force May 1
The applications of money-lending, real estate and precious metals businesses will be subject to simplified due diligence by the DCI Compliance and Enforcement Unit before the DCI board reviews them.
04/25/2019
Cayman adds 16 new captive licenses in 2019
With regard to group captives, the Cayman Islands has over 120 vehicles in place totalling $3,013,772,649 in premiums from over 5,000 shareholder-insureds.
04/25/2019
Luxembourg Securitisation market feels impact of ATAD 1 Interest Limitation Rule
In a nutshell, the rule means that securitisation vehicles (SVs) with a main source of income through capital gains, non-performing loans and so on, may not be able to achieve tax neutrality which is a standard for all such vehicles.