12/21/2015
According to the terms of the joint non-prosecution agreement signed today, EdR Switzerland agrees to cooperate in any related criminal or civil proceedings, demonstrate its implementation of controls to stop misconduct involving undeclared U.S. accounts
12/18/2015
The Department of Justice has announced that Bordier & Cie Switzerland (Bordier), PBZ Verwaltungs AG (PBZ) and PostFinance AG reached resolutions under the department’s Swiss Bank Program. These banks collectively will pay penalties of more tha
12/17/2015
New banking code formalizes procedure in customer defaults
The new amended code, which all CIBA members have to adhere to, specifies the steps banks will take to find a solution when borrowers are unable to make their loan payments.
12/17/2015
DMS Managing Director Derek Delaney and Executive Director Nicholas Parkes discuss the firm’s innovative regulatory solutions with respect to FATCA and AIFMD, in Hedgeweek Special Report 2015.
12/17/2015
Lecture by Dr DeLisle Worrell, Governor of the Central Bank of Barbados, at the Carleton University, Ottawa, 17 September 2015.
12/16/2015
Commentary: Cayman Islands regulator repeatedly fails to assist victims of fraud
Cayman financial professionals report that there are at least a dozen open and pending investigations at CIMA into major frauds, and not one has apparently resulted in a criminal referral to the Royal Cayman Islands Police Service.
12/15/2015
Central public register may be inevitable
Cayman has been under pressure for some time now to introduce a central public register
12/15/2015
The UK is expected to send law enforcement officials to Cayman in the New Year to enhance the current cooperation regime between this jurisdiction and the authorities in Britain regarding financial crime and money laundering.
12/15/2015
Four Things That Offshore Funds Should Not Do
Most offshore funds that trade U.S. instruments manage to avoid the ECI issue by restricting themselves to U.S. activity that fits within the “stocks, securities and commodities” safe harbor.
12/14/2015
The rumours have become a fact and now it is time we face the reality. Cayman Islands banking secrecy days are over.
12/14/2015
The new 2016 growth forecast represents a second revision.
12/11/2015
The United States has now signed 11 MRAs with other customs administrations across the world.
12/11/2015
The project has been stalled since Baha Mar filed for bankruptcy on June 29 in the United States.
12/11/2015
The industry needs hard facts if it is to develop successfully and cost-effectively the new infrastructure that MiFID will demand.
12/11/2015
The formation of the Council will overarch a strategic project begun five years ago to strengthen the financial stability framework in Bermuda.
12/10/2015
Companies have fiduciary responsibility to their shareholders (owners) to make as much money as possible within the law.
12/08/2015
The delay in attracting an experienced figurehead for the Insurance Division at CIMA has compounded the authority’s woes in finding a full complement of directors
12/08/2015
With a new tax on company dividends coming into force from April 2016, a financial planner explains how Britons overseas will be affected, and what steps they should take
12/07/2015
Qatar Reinsurance Company Ltd today announced that it has completed the process of re--‐domiciling to Bermuda. At the same
12/07/2015
The pressure on Cayman, as well as British Virgin Islands and Bermuda, was intense as Minister James Duddridge pledged to press the OTs on the public register.