10/12/2018
Basel AML Index reveals slow progress in combating money laundering
The findings tie into recent high-profile probes involving countries generally considered low-risk.
Regulation, Risk & Compliance
10/12/2018
EU mulls blacklisting its own Member States
Lawmakers and campaigners questioned whether countries like Luxembourg, Malta, Ireland or the Netherlands should be considered tax havens due to their tax rules.
10/11/2018
BVI to take ‘Goldilocks’ approach for regulating crypto assets
According to Cryptobriefing, over the first six months of 2018 the BVI saw USD78.5 billion of trading volume in crypto assets
10/10/2018
Gov't Pledges to Support Companies Affected by New Offshore Regulations
The institute also pointed out the bill is still waiting to be discussed and approved by the Legislative Assembly
10/09/2018
Cayman, UK resume crime-fighting cooperation
The agreement does not affect the threat that the British government may impose public beneficial ownership registers in the overseas territories through an order in council, if they have not been implemented by 2020.
10/08/2018
New Ordinance On Electronic Agent Use In Guernsey
The purpose of the Ordinance is to provide certainty regarding the use of electronic agents in contract formation, execution, performance and termination under Guernsey law.
10/04/2018
Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis
Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.
10/04/2018
GFSC announces two-year licence fee freeze
Those fees represent the Commission’s principal method of funding its operational costs including any capital expenditure.
10/02/2018
Bank fine for breach of probate rules underlines importance of following procedure
These cases are rare, but they do underline the importance of obtaining the necessary legal authorisation before dealing with the assets of a deceased person.
10/01/2018
HSBC to face calls to 'quit Malta' as MEPs threaten campaign against UK's biggest lender
Malta’s financial services authority, the MFSA, has been under pressure from Brussels in recent months after a European Banking Authority report found “general and systematic shortcomings” in how Malta applies money-laundering rules.
10/01/2018
BVI hires $400,000 lawyer to avoid EU’s blacklist
With only three months remaining, Cabinet decided to waive the tendering process that was required to contract Furness, local media outlet BVI News reports.
10/01/2018
Money laundering probe into Maldives president yet to start
The president has been dogged by graft allegations since he took office.
09/30/2018
IMF Publishes Fiscal Transparency Evaluation for Malta
The report recognizes several key strengths of fiscal transparency practices in Malta.
09/28/2018
Bahamas 'Stands Out' As Major Ifc
The minister said the Government is concentrating on legislating and managing the risks posed by FinTech (financial technology), while also harnessing its benefits, and legislating, regulating and defending against systemic cyber risk and cryptocurrency i
09/28/2018
BVI companies risk being struck off
As from 1 October, non-compliant companies will no longer be able obtain a certificate of good standing from the registrar
09/24/2018
Services to asset managers are now the biggest growth driver
On the regulatory side, things have changed as well over the past years.
09/24/2018
GDPR and Singapore Companies
The GDPR will affect companies in Singapore in various way.
09/24/2018
More regulation of Jersey residential leases on the way
The new law enables the Environment Minister and his officers greater legal powers to carry out inspections and to issue notices in respect of failing properties that could result in court action against landlords.
09/20/2018
New trustee licensing requirements on the horizon
The act will fundamentally overhaul the existing financial services regulatory framework and create a new supervisory regime governing all financial institutions.
09/20/2018
Guernsey connections explored in Hong Kong
Trident Trust launched the Guernsey element of its global fund administration business in 2004, after it received a request from its Hong Kong office to administer a Cayman fund structure.