Managers of Wealth Offshore

GFSC clarifies rules around surrender of Guernsey Collective Investment Scheme authorisation

The updated guidance amends the previous update from 12 months ago

US Rate Cuts: Possible Effects on Panama’s Banking System

The executive president of the Banking Association of Panama stressed that it would be very rare for any bank to start lowering its rates now

Mutual funds in the Cayman Islands

This category of regulation is applicable to retail mutual funds.

Axa XL supports pioneering issuance in Bahamas

Also, it’s the first time a private insurer, Axa XL, is providing credit insurance alongside an MDB in support of a sustainable issuance for nature and climate.

Republic Bank Warns Customers Of New Phishing Scam

Fraudsters are mimicking Republic Bank’s official email alerts, tricking recipients into clicking on fraudulent links.

Fixing the monetary policy transmission mechanism makes sense

The chamber argued that with the current lowering of policy rates, “the delay in reducing lending rates signals a need for deeper review of the monetary transmission mechanisms in place”.

KPMG’s AML Roundtable: Key insights from second session of 2024 series

Industry leaders, experts discuss latest developments in anti-money laundering regulations

Five tips to avoid scammers in the Channel Islands

The chief executive of Channel Islands' Financial Ombudsman, Doug Melville, warned Islanders not to share passwords and not to assume people are who they say they are.

Bermuda boosts captive domicile with new licenses in 2024

More than 50 re/insurance entities approved

Jersey’s financial services regulator publishes plan to address MONEYVAL actions

This plan outlines how the JFSC will respond to the Recommended Actions that are solely for the JFSC to complete.

Cayman Islands Exempted Limited Partnerships – when can limited partners bring claims on behalf of the partnership?

The Privy Council set out 11 principles relating to the right of LPs to bring a claim on behalf of the ELP.

Bank fined just under £300k over compliance breaches

Bank made three payments for a client that was subject to a proceeds of crime restraining order

Data laws have left HSC facing "immense pressure"

It's after the department was reprimanded by the Office for the Data Protection Authority for breaching data access rules, again.

The Cayman Islands’ Position on Beneficial Ownership

The Hon. Premier and Minister for Financial Services and Commerce, the Hon. Juliana O’Connor-Connolly, led the Government delegation.

Bermuda consults on beneficial ownership register

The Registrar of Companies said it was seeking the feedback of industry and all relevant stakeholders on the proposals, including moving the register to the ROC from the BMA.

Jersey to significantly increase compensation in employment cases

Despite having discrimination legislation in force since 2014, the reality is that very few cases have been heard by the Employment Tribunal

Key recommendations for Guernsey NEDs when insolvency looms – lessons from BHS

This high-profile collapse was followed by a series of investigations and legal proceedings that exposed serious corporate governance failures.

BMA licenses Talanx ILS vehicle

Based in Bermuda, it was incorporated in August. Its insurance manager is Davies Captive Management.

Regulator concludes investigation into mobile network incidents

The investigation identified potential risks to emergency service calls which demonstrate regulatory contraventions.

Advancing Virtual Asset Regulation in the Cayman Islands

In a welcome development, the Bill also seeks to introduce a streamlined licencing procedure and clearer measures for sandbox licence holders who wish to transition to full registration/licence.

Regulation, Risk & Compliance