Managers of Wealth Offshore

Agreement signed for $200 million luxury resort in the Bahamas

The owner of the project, Dona Bertarelli, is a member of a prominent Swiss family.

Serbia: Belgrade Mayor Connected to Another Offshore Company

This is the fourth company in the British Virgin Islands that KRIK journalists found is connected to Mali.

Central Bank Governor Says Belize Is Compliant with Money Laundering Regulations

Central Bank Governor, Glenford Ysaguiire spoke of the country’s position on te money laundering issue.

No political will to get to bottom of 1MDB crisis

More specifically, it was related to the US$4 billion RM16.6 billion suspected misappropriations by 1MDB and possible violations of Swiss law.

Cayman law could increase the number of governance committees

The change in Cayman law also has implications for funds as they work through the requirements of the Volcker Rule.

Banking innovation and research high on Jersey finance industry agenda in 2016

A new piece of work to clarify the finance industry’s contribution to the local Jersey economy will be completed too.

Increased fund governance and regulation keeps Cayman at the forefront

"At Conifer we've seen growth over the last 12 months in both those segments".

‘Fiduciary creep’ could lead to independent governance

Colin MacKay (pictured) is Group Director, Elian Fund Services. In his view, this evolution is, in part, why attempts to codify the duties and responsibilities of those charged with oversight could be counterproductive.

IRS Still Hunts Offshore Accounts As More Foreign Banks Sign Deals With U.S.

The IRS updated its list of foreign banks where accounts trigger a 50% rather than 27.5% penalty in the IRS’s long-running Offshore Voluntary Disclosure Program.

European Commission Letter to ESMA on Application of AIFMD Passport

The Commission stated that with regard to the advice on granting the AIFMD passport to managers and funds established in third countries, it agrees that the country-by-country approach adopted by ESMA is correct.

Malta Continues to set New Standards in Attracting Foreign Capital

Malta also boasts an excellent reputation, having developed an effective business infrastructure over the past 15 years and positioning itself as an international business hub.

Isle of Man resists offshore ownership register

The UK is publishing its first register of beneficial company ownership this year.

Mergers and Acquisitions of CIMA Regulated and Licensed Cayman Companies

Associate Hugh Anderson discusses the latest M&A activity involving Cayman Islands entities licensed and regulated by the Cayman Islands Monetary Authority.

Atlanta mortgage company to pay $2 million fine

The U.S. Securities and Exchange Commission said Ocwen misstated its profits in parts of 2013 and 2014 by using asset values provided by a Cayman Islands firm that Erbey also ran, rather than an independent company, as it had stated.

Bush: UK FACTA death of finance industry

He knocked the Financial Services Minister for agreeing to the proposal which will see all tax information related to UK residents automatically exchanged with UK authorities.

Brazil offshore tax amnesty signed into law

Residents of Brazil with undeclared offshore assets can now voluntarily declare and regularise their tax affairs without facing criminal prosecution and only face a one-off charge and penalty.

Cayman copies Delaware for limited liability law

Cayman has taken the blueprint from Delaware for the introduction of its new Limited Liability Company legislation.

Appleby Sponsoring RCA's Regulation, Operations and Compliance Bermuda Symposium

Additionally, CCOs from Top 100 hedge funds and private equity firms will provide exclusive insights regarding current or ongoing SEC examinations, NFA audits and other regulatory inspections.

Fiduciary Decision Making in Respect of Assets Under Trust - Guernsey Financial Services Commission

This topic was chosen as it represents a key responsibility of trustees and is also a common theme in complaints notified to the Fiduciary Supervision Policy and Innovations Division (“the Division”).

CIMA adds 30 new insurance licenses in 2015; total number falls

The number of Class A insurance companies, which are licensed to offer insurance products in the domestic market, increased from 28 to 31 during 2015.

Regulation, Risk & Compliance