Managers of Wealth Offshore

Consumer Chief Urges More Banking Licenses

The survey results are unlikely to surprise many, given the negative attitudes many Bahamians hold towards the banks

Guernsey – a ‘BEPS-compliant jurisdiction’

Guernsey is continuing to take steps to build on its position as a BEPS-compliant jurisdiction. A year ago the island established a base erosion and profit shifting (BEPS) working party to assess the OECD’s October 2015 BEPS Action Plans, as well a

Butterfield Announces Launch of Secondary Offering

The pricing and completion of the offering remain subject to a range of conditions.

UK fund groups flock to Luxembourg as AUM in Ucits funds reaches record levels

These record figures and the strong net sales that we continue to see demonstrate that Luxembourg remains a preferred global fund hub.

BOJ To Make Changes To Forex Cash Reserves Requirements

The adjustment is aimed at reducing the incentive to hold foreign currency liabilities.

The Vatican froze €2 million in funds suspected to be connected with money laundering in 2016

Milano gave no details in his speech but added that the total amount of suspect money frozen between 2013 and 2016 was about 13 million euros.

Think-tank proposes dual funds regime for post-Brexit UK

The proposed scheme would allow less EU-focused asset managers to avoid some of the burdens of EU regulation.

HSBC Stops Issuing P-Notes As Government Steps Up Clampdown

(Sebi) has shared with the government a list of foreign fund houses that are found to have issued the Offshore Derivative Instruments (ODIs) to Indian nationals.

MiFID II – New European Regulation To Govern Increasing Demand For Bespoke Investment Strategies

European Capital flows are expected to continue their upward trajectory despite sluggish global growth concerns and the diminishing of monetary easing polices.

Pakistan to access citizens’ past financial details in foreign countries

The official said the exchange of information between the signatory countries would be restricted to the present details in case of accounts with deposits below the mark of one million dollars.

Guidance to Cyprus Investment Firms on communications with clients

It must be provided by authorised and qualified employees of the appropriate department.

A view from Jersey and Guernsey

As a result, the MLP should simplify local regulatory requirements for structures which choose to be AIFMD complaint.

Who cares about offshore licensing?

They want FCA regulation above all.

Why China’s Richest Worry About Moving Money Abroad

Affluent asset-holders are finding strict foreign exchange rules are bad for their wealth.

1MDB: Emboldened Trusts Wrangle Over Jho Low Assets

Low is fighting in Los Angeles court to keep those assets, exposing an unseemly side of the private banking and trustee industry that is usually kept out of sight.

Japan, Bahamas agree to automatic exchange of financial information for tax purposes

The Ministry said the new agreement provides for information exchange based on the latest international tax standards.

Banks: Homeowner Bill To Change ‘Risk Profile’ Of Mortgages

Suggesting that the latter could involve requiring borrowers to come up with higher downpayment or equity contributions

No Bob Investor Buy-Out Unless All Made Whole

It cannot be a purchase for any fair market value, which is going to be abysmally low.

EU Panama Papers Inquiry Chief Condemns U.K. No-Show

It was “most disappointing and regrettable that no one at the political level at HM Treasury was able or willing to meet” during the trip to London last week from the European Parliament’s Panama Papers inquiry committee

Alter Domus acquires Carta fund services in the US

CARTA specialises in providing Private Equity focused.

Regulation, Risk & Compliance