05/28/2015
Liquidators of failed Cayman Islands-based hedge funds sue Barclays
Barclays knew that during the first half of 2008, ICP Asset Management and Priore caused other investment vehicles they managed to make over $40 million in fraudulent transfers to Barclays to cover Triaxx Funding’s margin obligations.
05/28/2015
Basler, one of a host of local government-backed lenders in Switzerland, is still on the hook in a U.S. probe investigating how Swiss banks helped wealthy Americans dodge or cheat on taxes.
05/28/2015
The department is currently investigating accountholders, bank employees, and other facilitators and institutions based on information supplied by various sources, including the banks participating in this Program. Our message is clear – there is no
05/27/2015
London sets up catastrophe bond task force
To tap into the fast-growing $22 billion market for catastrophe bonds as low-tax hubs such as Bermuda
05/26/2015
Gibraltar Joins International Information Exchange Agreement
Agreement Strengthens International Supervisory Cooperation, Promotes Enhanced Consumer Protection
05/26/2015
OECD Permanent Estabishment proposals could impact Channel Islands
The OECD has just released its revised proposals on the Permanent Establishment (PE) rules in Article 5 of the OECD Model Tax Treaty
05/22/2015
This is the second time that Liechtenstein authorities have refused to share the details with Indian agencies.
05/21/2015
Operating Expenses are up by $16 million compared to the 2014/15 budget
05/21/2015
The change means that Cypriot service providers to Cayman Islands funds can now undertake anti-money laundering procedure functions
05/20/2015
The decision is unusual because it explains the reasons behind the ruling.
05/20/2015
It also stated that the ministry is amending its answers to Pua in March stating that the Cayman Islands investment funds were redeemed in the form of cash and are still kept in BSI Bank in US currency.
05/18/2015
Despite the turbulence being experienced in Antigua over the 2015 Banking Act, St. Kitts and Nevis will bring the new legislation to parliament within a few weeks
05/05/2015
Italians arrest ex-Swiss banker for 'tax fraud'
Authorities in Milan said on Monday that they have detained a former Swiss banker for allegedly helping wealthy Italian clients evade taxes and launder large sums of money, including the proceeds of embezzlement
05/04/2015
Belvedere update: Mauritius FSC suspends Belvedere’s management licence
Cites failure to comply with the law
04/29/2015
Cyprus : Financial And Investment Law Changes
At the end of January 2015 a number of detailed amendments were made to Cyprus laws regulating the financial and investment sector to align them with EU legislation
04/28/2015
FBI investigates British rogue trader for allegedly stashing millions in C’bean offshore banks
The “flash crash” trader who US authorities want to prosecute over claims that he helped wipe hundreds of billions of dollars off the value of Wall Street stocks, may have a hidden $75 million offshore nest egg.
04/28/2015
Privatisations In Cyprus: The Beginning Of A New Era
As one of the conditions of international support following the financial crisis of spring 2013, Cyprus was required to put in place a framework for the privatisation of state-owned entities and utilities
04/28/2015
BVI Financial Services Industry To Take New Direction
The British Virgin Islands Government has received a report that it commissioned on finding a new direction for the financial services industry
04/28/2015
Belvedere update: Guernsey FSC places three funds into administration
The three fund companies are all managed by Lancelot Management; a Guernsey registered collective investment schemes manager.
04/26/2015
All of the bills were passed on April 17 and they are expected to be gazetted shortly.