09/26/2023
ABIR signs agreement with UK insurance association
Bermuda’s leading property and casualty re/insurers represent 44% of capacity in the Lloyd’s of London market
Regulation, Risk & Compliance
09/26/2023
Google makes decades-long commitment to Bermuda
The cable is called Nuvem – which means “cloud” in Portuguese – and is set for completion in 2026, ending a decade-plus drought in new capacity landing on the island.
09/26/2023
Jersey AML registration– update on non-executive directors and step-by-step guidance on how to register
One of the key changes made has been to remove exemptions for AML registration for people carrying on the business of being a non-executive director.
09/26/2023
Seychelles: Protecting Financial Consumers In Seychelles
The FCPA seeks to provide a legal framework to fairly and reasonably handle financial consumer disputes and to promote the development of the financial sector in Seychelles.
09/25/2023
European Court of Human Rights again rules against Malta on old rent laws
State condemned to pay €70,000 in compensation over two separate cases
09/25/2023
Govt to 'enforce' Bahamian understudy for expat hires
She implied that there has been no enforcement and accountability in the labour certificate process
09/25/2023
Guernsey's fast track application regime for managers of overseas funds
Mancos are able to expedite this process using a fast track regime for managers of overseas funds.
09/25/2023
Bermuda continues to struggle from cyberattack
All government e-mail remained knocked out over the weekend, along with the main switchboard, and it was unclear when normal operations would be restored.
09/22/2023
CIMA Confirms E-KYC and Remote CDD for Cayman
The acknowledgement was included in CIMA’s latest AML guidance
09/22/2023
Making a will in the Cayman Islands
This is particularly recommended for individuals who are not domiciled in the Cayman Islands
09/22/2023
Consensus sought for digital asset rules
“The market will be a resilient one,” Mr Fahmi said. “The convergence between traditional and digital assets will continue.”
09/22/2023
OfReg Seeks Bids For Advanced Licensing System To Streamline Functions
Advanced Licensing System Will Allow Users To Submit License Applications Through An Online Portal
09/21/2023
BMA registered two new insurers in August
In addition to the 39 insurers registered this year to date, the BMA has registered four intermediaries.
09/21/2023
Bahamas and Botswana Sign MOU on Mutual Development
“Through this agreement, we aim to foster deeper collaboration, leverage our unique strengths, and jointly address challenges to ensure mutual progress.”
09/21/2023
Cayman Islands’ Corporate Governance Rule and Internal Controls Guidance and Rule
Conyers will be able to advise further actions to be taken where gaps or deficiencies are identified.
09/21/2023
Bermuda re/insurance incorporations trailing behind 2022 figures
The BMA confirmed the licensing of two re/insurers in August, bringing the total number for the year to date to 43.
09/21/2023
CDB Mission visits Grenada to boost project implementation
Government of Grenada has welcomed a Mission from the Caribbean Development Bank (CDB) for a series of engagements to drive the implementation of CDB-funded projects.
09/20/2023
Private sector needs to lead new economic direction, Caruana tells businesses
Government must be bold in cutting down on inefficiency and support change, Finance Minister argues
09/20/2023
IGI redeems warrants for $16.4 million
The warrants were exercisable at a share price of $11.50. IGI shares currently trade on Nasdaq at a price of $11.40, having climbed from $8.05 in May.
09/20/2023
The Commercial Entities (Substance Requirements) Act, 2023
CESRA mandates that all Registered Agents must submit this report to the Ministry of Finance within nine (9) months of an entity’s fiscal year-end.