Managers of Wealth Offshore

O'Reilly ends 44-year Fitzwilton role

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.

Switzerland to vote on whether to ban private banks from creating money

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.

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.

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.

CAYMAN ISLANDS: Default settings: Banks offer clarity on troubled loans

Amendments to banking codes don’t normally appear on anyone’s Christmas list.

Cayman Islands: SEC proposes $0 Caledonian settlement

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.

Rothschild agrees in US tax dispute

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

Three further Swiss banks pay US fines

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

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.

Growth in FATCA and AIFMD Compliance

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.

The Barbados IBFS sector and the efficiency of international commerce

Lecture by Dr DeLisle Worrell, Governor of the Central Bank of Barbados, at the Carleton University, Ottawa, 17 September 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.

Central public register may be inevitable

Cayman has been under pressure for some time now to introduce a central public register

UK enforcement agencies to visit Cayman

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.

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.

Opinion: Beneficial ownership smokescreen

The rumours have become a fact and now it is time we face the reality. Cayman Islands banking secrecy days are over.

Imf Slashes Bahamas 2016 Growth To 1.5%

The new 2016 growth forecast represents a second revision.

US and Dominican Republic sign mutual recognition arrangement

The United States has now signed 11 MRAs with other customs administrations across the world.

Bahamas PM expects bankrupt resort to open partially or fully by March

The project has been stalled since Baha Mar filed for bankruptcy on June 29 in the United States.

MiFID II: The transparency imperative

The industry needs hard facts if it is to develop successfully and cost-effectively the new infrastructure that MiFID will demand.

Regulation, Risk & Compliance