01/13/2014
Gibraltar aims to be gateway for AIFMD
The passport system established under the Alternative Investment Fund Managers Directive allows funds to operate throughout the EU once they have received regulatory approval in one member country.
Regulation, Risk & Compliance
01/10/2014
Worldwide: FSB Endorses Cayman, BVI & Ireland for Regulatory and Supervisory Standards
The FSB is the successor to the Financial Stability Forum and includes all G-20 major economies, FSF members, and the European Commission.
01/09/2014
Banks' Risk Tech Spending Expected to Grow Steeply Through 2017
Areas of high growth for North American banks include compliance systems and resources, counter-fraud, credit, and cyber protection/information security.
01/04/2014
97% of Financial Firms Don’t Think Enough Has Been Done to Prevent Future Crash
Furthermore, just 12 per cent of respondents believe that regulators fully understand how the financial crisis happened in the first place.
01/02/2014
Bahamas govt. must clarify CLICO guarantee, says IMF
In a statement sent to Guardian Business, IMF mission chief for The Bahamas Mbuyamu Matungulu noted that the fund is keeping a close eye on the matter, and added that it continues to maintain that the CLICO (Bahamas) matter must be swiftly dealt with.
12/31/2013
Cayman regulator agrees to database providing director transparency
The database is part of a comprehensive review of Cayman governance that will be welcomed by the hedge fund investment community.
12/17/2013
Corruption accounts for more suspicious activity reports
The authority forwards all such reports to the appropriate enforcement agency when that is required. Not every report it receives is necessarily a bona fide instance of corrupt practices.
12/16/2013
Curaçao and Sint Maarten: Emergency Regulation Giro Bank
The Central Bank of Curaçao and Sint Maarten announces that the Court of First Instance of Curaçao, by order of December 16, 2013
12/12/2013
The start date of Isle of Man’s ‘RDR’ moved back to February
The start date of the Isle of Man’s answer to the UK’s Retail Distribution Review has been moved back to the first of February, 2014
12/12/2013
Labuan FSA Issues New Guidelines for Labuan Protected Cell Companies and Labuan Securities Licensees, Including Islamic Securities Licensees
The Labuan Financial Services Authority, on 11 December 2013, issued the following two guidelines, which will come into effect on 1 January 2014
12/11/2013
Code of Audit Practice Published by Jersey's Comptroller & Auditor General
The Island’s Comptroller & Auditor General Karen McConnell, has today published a Code of Audit Practice.
12/11/2013
Standard Bank’s offshore compliance team achieves recognition at the Compliance Register Awards
Standard Bank’s offshore compliance team received the award for Outstanding Service to Compliance and Regulation in the ‘Best Compliance Team
12/05/2013
Jersey Financial Services Commission RFA Implementation Statement
The Review of Financial Advice project commenced in August 2011 with the publication of Position Paper No. 1 on the Review of Financial Advice.
12/03/2013
Guernsey reveals opt-in AIFMD equivalent regime
Accordingly, Guernsey fund managers and depositaries should undertake detailed analysis of their business requirements before opting in to comply with the Rules.
12/01/2013
State Street retains CI Fund Administrator of the Year title at Custody Risk Awards 2013
State Street was named Channel Islands Fund Administrator of the Year for the second consecutive year at the prestigious Custody Risk European Awards 2013 recently.
11/26/2013
Deutsche Bank Retains 'Custodian of the Year' Title
Deutsche Bank's custody business in Jersey and Guernsey has been recognised for the second year in a row at the Custody Risk European Awards 2013
11/21/2013
SEC slams Florida advisers with fraud charges for taking huge commissions on risky investments
The advisers also are charged with contributing to violations of the “custody rule” that requires investment advisory firms to establish specific procedures to safeguard and account for client assets.
11/19/2013
AIFMD – another catalyst for a move to Guernsey
Guernsey also has an advantage over many of its competitor jurisdictions in that there is already significant substance to many of the existing arrangements which investment houses have in the Island.
11/17/2013
Executive summary from the Global Regulatory Outlook report
The last 12 months has been another year of change for the financial services industry. We have begun the move from inter- and intranational debate about the shape and purpose of regulation, to a period of understanding the implications for business follo
11/13/2013
Davos International Bank Receives Positive Certification in the Fight against Money Laundering
The Supervisor of International Banks and Trust Corporations of the Financial Services Regulatory Commission, stated the rating had been "satisfactory," according to the evaluation ranges used for this purpose.