03/04/2019
Swiss 1,000-franc note to get makeover amid international calls the bills aid crime
A revamped design is due to be unveiled on March 5, in defiance of controversy
Regulation, Risk & Compliance
03/04/2019
Politics enters the global battle against money laundering
Policy has become vulnerable to interference and manipulation
03/04/2019
Government Issues Economic Substance Guidance
The guidance booklet does include explanations for what it considers adequate in some specific sectors.
03/04/2019
Fusang Group receives securities exchange licence in Labuan
Running similarly to traditional securities exchanges around the world, Fusang Exchange will run a network of licensed and regulated exchange members who will be allowed to trade directly on the platform.
03/04/2019
$2 billion asset base decline over five years for public banks, trust companies
The additional data is expected to offer a benchmark as to market share of supervised financial institutions and provide a better understanding of the size and complexity of the industry.
03/03/2019
Islands object to beneficial ownership proposals
The proposed amendments attempt to impose public registers of beneficial ownership for all Crown Dependencies and Overseas Territories.
03/03/2019
Crown dependencies face crackdown on secret companies
Tory MPs demand that Jersey, Guernsey and Isle of Man reveal names of corporate owners
03/03/2019
Is Monaco headed towards joining the European Union?
Such an agreement would establish legal parameters for the relationship between the two entities and increase prospects for cooperation.
03/01/2019
Luxembourg law on the register of beneficial owners comes into force
Entities are not only obliged to provide information to the RBE, but also to hold such information, including supporting documents, at their registered office.
02/28/2019
EDITORIAL – Offshore under microscope again, with no end in sight
This is despite the fact that the Cayman Islands government, as is its custom, adopted and has implemented most of the safeguards and hoop-jumping required to placate the task force – for now, at least.
02/28/2019
The Asian Banking and Finance Sector; 2019 and beyond [Brought to you by Appleby]
China has recently introduced a series of cybersecurity and data protection regimes which can and will affect the operation of the banking and finance sector.
02/27/2019
Cyprus pushes to bring crypto assets under EU money laundering rules
Тhe EU directive sets a new legal framework for European financial regulators to monitor crypto-related businesses and service providers in order to protect against money laundering and terrorism financing.
02/27/2019
Permanent Capital’s Acquisition of Bermuda Commercial Bank
Permanent Capital intends to grow BCB into a full-service commercial bank.
02/26/2019
Cayman bracing for negative Financial Action Task Force review
Mr. McLaughlin did not go into specifics, but statements have been made in recent public hearings that demonstrate Cayman’s struggles to meet FATF standards.
02/26/2019
Guernsey welcomes UN PRI Climate Change Reporting Development
Guernsey is positioned at the forefront of the development of green and sustainable finance as a member of the UN’s International Network of Financial Centres for Sustainability
02/26/2019
2019 will see the US as key offshore center as OECD’s CRS restricts global banking
Although there are some delays, in 2019 the vast majority of committed countries will be exchanging information under the Organisation for Economic Co-operation and Development’s (OECD) common reporting standard (CRS).
02/25/2019
Top 5 countries with the highest trade tariffs
The world’s most developed nations tend to favour low tariffs, while poorer countries have retained higher trade barriers
02/25/2019
Premier dismayed by report calling for British voting rights in overseas territories
What annoys me is that if the people behind the report were to get into power
02/25/2019
Britain’s bond with Cayman: Governor seeks to restore ‘trust and confidence’
Four months into the job, the governor believes he has already done much to restore “trust and confidence.”
02/22/2019
Your taxes OECD proposals for a digitized economy
Taxation based on marketing intangibles may reflect, for example, trademarks, trade names, customer lists, customer relationships, proprietary marketing and customer data.