01/15/2016
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.
01/13/2016
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”).
01/13/2016
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.
01/13/2016
Further to our previous updates regarding changes to the legislation of the British Virgin Islands, the relevant anticipated legislation has now been published.
01/11/2016
We believe it’s fair that only students who are officially resident in Bermuda should get that right to vote.
01/07/2016
‘Wolf of Wall Street’ Swiss Bank Pays $188 Million in Tax Case
“Under the terms of the agreement, UBP pays a heavy price for its criminal conduct and must cooperate fully in all matters relating to the conduct described in the agreement until all civil or criminal examinations, investigations or proceedings are
01/07/2016
Cayman Islands: Business Owners Have More Guidance To Cease Their Licences
Business owners now have clearer instructions for ceasing their trade and business licences, under the new Trade and Business Licensing Law.
01/06/2016
BAHAMAS: Central Bank Urged: ‘Step In’ Over Bob’S $100m Loss
They will also likely urge the 35 per cent minority investors, and the Bahamian public, to draw encouragement from the 91.4 per cent reduction in year-over-year losses for the 2016 first quarter.
01/06/2016
Cayman Islands regulator refuses to assist with $450m fraud investigation
It has not closed down B & C Capital Ltd, a shell company that held itself out as a "bank," and received the assets of as many as 60 Canadian and American retirees and pensioners.
12/30/2015
Swiss Private Bank Has Agreement in Principle in U.S. Tax Probe
The bank remains committed to cooperating proactively with the DOJ’s investigation
12/29/2015
The Cayman Islands-based unit, The Saudi National Commercial Bank Markets Limited, will be 100 percent owned by NCB and have a paid-up capital of $50,000, a bourse statement said.
12/29/2015
Due diligence procedures for identifying existing individual accounts with balances of at least $1 million will have to be completed by December 31, 2016
12/28/2015
Tony O'Reilly, the former billionaire who was declared bankrupt in the Bahamas in November, has resigned as a director of his Fitzwilton investment vehicle.
12/27/2015
Swiss referendum aims to glimit speculation by granting central bank monopoly over creation of both physical and electronic money, and requiring private banks to hold 100% cash reserves againt deposits.
12/23/2015
CIMA satisfied with Cayman National US$6M settlement
The Cayman Reporter highlighted the report however no details on the actual circumstances around of the investigation were revealed in the Cayman National statement.
12/21/2015
Swiss private banking group seeks deal With US To Settle American Offshore Accounts Case
Will meet with U.S. officials in the coming week for negotiations, the report said.
12/21/2015
CAYMAN ISLANDS: Default settings: Banks offer clarity on troubled loans
Amendments to banking codes don’t normally appear on anyone’s Christmas list.
12/21/2015
The agreement still needs to be approved by the Cayman Islands Grand Court and the U.S. District Court for the Southern District of New York.
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