Managers of Wealth Offshore

Pua asks whether Deloitte was hoodwinked by 1MDB

The authenticity of the investment was publicly questioned and the company came under immense pressure, resulting in the demand for the money to be repatriated.

Too Big to Jail: George Osborne helped HSBC avoid US criminal charges for money laundering

Criminal charges for HSBC would have meant the US would have to review and possibly revoke the bank's charter to do business there.

ESMA To Recommend on Passporting of Funds Outside the EU Post Brexit

ESMA is due to make its recommendations later this month.

Swiss route poses a challenge for Brexit UK

EU agreements may be difficult for Bern to maintain and even harder for London to follow

TMF Group launches common reporting standard services

In 2017, a second group of countries will implement the CRS, with the exchange of information starting in 2018.

SFC Adds CVC Groups Private Capital and Arthur-Sera Ltd to its Alert List

Hong Kong's SFC has again updated its Alert List to warn against unregulated entities offering their services.

Singapore’s Banking Secrets - Not So Secret Anymore

But this focus on extra-territorial tax evasion has not been confined to Switzerland.

Brussels seeks clampdown on offshore trusts long protected by UK

EU officials say the new plans would focus on beefing up access to national registers of “beneficial ownership” already being put in place by governments.

India and Cyprus new tax treaty: Mauritius still remains jurisdiction of choice for debt structuring

The Mauritius transitional period (1st April 2017 to 31st March 2019) allows for the sharing of taxing rights between India and Mauritius

GFSC and CIMA sign a Memorandum of Understanding

This AIFMD MoU facilitates information exchange and experience sharing, important processes that will enhance our capabilities as supervisors of AIFMD entities

Bahamas, IDB identify reforms to promote innovation, transparency

But the key issue is how to move from commitments to actual implementation.

Cayman, other territories to be briefed on Brexit

There are also some practical considerations regarding the availability of EU-directed funding assistance available to the overseas territories.

Jersey joins Commonwealth Enterprise and Investment Council

Senator Philip Ozouf, Assistant Chief Minister for Financial Services, Digital, Innovation and Competition, will represent the island on the Advisory Board of the CWEIC.

OECD Common Reporting Standard: The Next Steps

All financial institutions in early adopter jurisdictions should now give thought to the due diligence they will need to perform in respect of pre-existing accounts.

Cayman Islands updates policy on audit waivers for Cayman funds

The Policy provides a welcome expansion of the circumstances when a fund can apply for an exemption from the annual audit requirement

Cayman updates copyright for digital age

Cayman’s Ministry of Commerce also plans to present a trademark bill to the Legislative Assembly in September

Duo with Irish links at centre of $16bn 'Ponzi scheme' probe

Regulator in Mauritius sought help from Central Bank in its investigation into offshore hedge fund

Int’l assessments and financial legislation changes to come

Cayman will first be assessed by the Global Forum on transparency and exchange of information for tax purposes beginning later this year.

BAHAMAS: Gibson says NIB on a positive path

Benefits increased by 5.7 percent to $258 million from $244 million in 2014; and there was a savings in Administrative expenses of $8.1 million,” he said.

Cayman Islands reinsurance sector gains momentum - Appleby

The segregated portfolio company will focus on reinsuring large blocks of pension risk transfer group annuity contracts and other low convexity and long-duration annuity business.

Regulation, Risk & Compliance