Managers of Wealth Offshore

Cayman regulator fails to sanction unlicensed bank and its directors

CIMA has offered no explanation for its failure to protect foreign investors in this case

Age discrimination and Jersey pension schemes

It may also be helpful for employers and trustees to seek advice on the implications of the Age Regulations for them

PM Christie Announces Business Initiatives for Grand Bahamas

The cooperation and meaningful collaboration should be noted of Grand Bahama Port Authority and other stakeholders including the signatories to the Memorandum of Understanding.

Jersey sees an increase in private placement and consults on enhancing funds regime

The latest figures show that the appetite to use Jersey’s existing NPPR route is consistently strong amongst managers

Cayman Islands: Cayman Flag On Paris MOU White List For 11 Consecutive Years

The Paris MOU currently has 27 participating states.

Trinidad Government ready with new FATCA legislatio

It requires all non-U.S. (foreign) financial institutions to search their records for indicia indicating U.S. person-status and to report the assets and identities of such persons to the US Department of Treasury.

CRA convicts a fraction of offshore tax evaders: Exclusive

Documents obtained by the Star show Canada is lagging far behind other countries in convicting tax cheats who exploit offshore tax havens.

Chinese Capital Outflows May Still Be Happening — But In Disguise

One big reason is that Beijing seems to have had success in cracking down on the flood of money leaving the country, which had been prompting sizable drawdowns in the central bank's foreign currency reserves, to prop up the value of the yuan.

Guernsey remains on course for third country passport following positive ESMA recommendation

ESMA has now published its advice for all 12 jurisdictions against the regulatory frameworks in place and their track record for ensuring effective enforcement.

Bahamas Chamber Chief: Don’T Stoke Devaluation Fear

The Chamber chairman said pressures would only likely arise when the Government’s foreign currency debts became due for repayment, as this could impose a drain on the foreign reserves.

Companies Act 2014: Approaching Conversion Deadlines

The new company law regime in Ireland, introduced under the Act has been in force for just over a year

Pensions: Let’s not be selfish says Henderson

Concerns were raised by some MHKs that it is not yet known exactly how many winners and losers there will be.

The Bahamas Competent Authority Bahamas FATCA Reporting Update for 2015

The FATCA Online Registration System needs to contain any updates to contact information for the Responsible Officer and Points of Contact to ensure you receive timely system notifications.

Swiss to pass information on HSBC accounts to US tax agency

Switzerland said it plans to give information to U.S. tax authorities about accounts at HSBC Holdings Plc's Swiss private bank, as part of a U.S. investigation into tax evasion.

ESMA backs Guernsey for AIFMD passport

Guernsey to be evaluated as a trusted jurisdiction that continues to provide a stable and competitive environment for business.

Singapore Vows Tougher Stance After 1MDB Dents Reputation

The Singaporean regulator won’t investigate 1MDB but intends to focus on transactions related to fund flows at financial institutions that may be linked to the sovereign fund

New Alternative Banking Regime approved for the Isle of Man

The new legislation and associated guidance will come into effect on 1st August 2016.

Hedge Funds Push for EU Passport for Cayman and Bermuda

Esma’s advice needs to be approved by the European Parliament, Council and Parliament for the AIFMD passport to be extended and this could prove a lengthy process.

Bermuda EU funds passport decision deferred

The European Commission said it will consider Esma’s recommendations.

Jersey Finance comment on ESMA passporting announcement

ESMA’s mission is to enhance investor protection and promote stable and orderly financial markets.

Regulation, Risk & Compliance