Managers of Wealth Offshore

Zug digital WM teams up with BDO for AM service platform

The new service combines a RegTech tool with more traditional offerings, including compliance and risk management.

OECD seeks input on new tax rules requiring disclosure of CRS avoidance arrangements and offshore structures

Public input is sought on all aspects of these model rules.

The Bahamas prepares risk-based approach to regulatory oversight

Updating the regulatory regime is being proposed to remove and address elements that may cause The Bahamas to be viewed as a less attractive jurisdiction.

FCA slammed for failings linked to passporting Cyprus adviser

Townsend also criticised a lack of openness in a decision letter from the FCA

Guernsey welcomes EU reaffirmation of 'cooperative jurisdiction' status

The Code Group's screening process initially involved 92 non-EU countries and jurisdictions.

Jersey unveils new data protection legislation

This legislation will be essential to facilitate trade and ensure that law enforcement authorities in Jersey can continue to cooperate with their colleagues in other jurisdictions.

OECD releases first peer reviews of the BEPS Action 5 minimum standard on spontaneous exchange on tax rulings

The annual report includes almost 50 country-specific recommendations on issues such as improving the timeliness of the exchange of information

Bermuda re/insurers required to take stress tests by BMA

The BMA said that the purpose of the tests is specifically to assess the impact of the losses, as determined using proprietary/vendor models

Cayman Government must approve pensions fund transfers

The savings transfers will depend to a certain degree on the transfer country’s financial regulatory regime, he said.

JFSC warning on Initial Coin Offerings

The notice follows other recent warnings from countries including the UK, US, Canada, Germany, Singapore, among others regarding this type of activity.

Government invests in Internet of Things sector

Investment in the IoT sector is consistent with the Government of Jersey’s aims to promote the digital economy and to position Jersey as a testbed jurisdiction, capitalising on its world-class telecommunications infrastructure.

BVI Rules Change for Non-Contentious Probate Now in Force

The Rules also apply to applications for grants which were pending on the date the Rules came into force unless a judge or the registrar directs otherwise.

Coutts ordered to pay out on £400k offshore investment

It follows a previous adjudicator’s findings that the investment adviser had failed to adhere to its clients’ wishes to have their capital protected, which Coutts appealed.

Cayman Islands: Nov. 30 is key date for pension refunds

Some confusion over payout process

UK politician's threat to take over the Isle of Man

The issue of public records of beneficial owners - who gets the money from registered companies - was raised.

Funds masterclass to explore ‘second age of discovery’

This uncertainty means the UK will undoubtedly be looking further afield for future investment opportunities and will have to reassess its place in the world as a non-EU jurisdiction.

Malta: Banks’ New Capital Requirements

A Bank’s Governance Is All About Managing Risk

AML Regulations to take effect 31 May 2018 for unregulated investment and insurance entities

Investment funds which are regulated under the Mutual Funds Law were, and remain, classed as conducting RFB and so are required to comply with AML/CFT legislation.

Luxembourg is the Delaware of Europe

These international nuances can work to Luxembourg's advantage by virtue of it being the hub of the European funds industry and a nexus for global funds distribution.

Trends and innovation in Luxembourg fund services

When appointing a counterparty to provide fund administration services, a fund manager doesn't want to have to appoint several other counterparties.

Regulation, Risk & Compliance