Managers of Wealth Offshore

Thematic examination for Q1 and Q2 2024 – Politically Exposed Persons (PEPs)

Examinations will commence in January and supervised persons that have been selected for this thematic examination can expect to be notified soon.

Trust event to consider impact of UK Labour government on Bermuda

The Bermuda branch, which has designed the conference, has some 180 members who serve the island’s trust and private client industry.

AML update: JFSC announces its focus on PEPs in January 2024

The Examination will commence in January and selected supervised persons for the Examination can expect to be notified soon.

Guernsey's comprehensive life insurance offerings for South African institutions 

These are international insurance wrappers assisting policy holders with, amongst other things, inheritance tax and succession planning.

Central Bank governor's energy subsidy warning

Edward Scicluna says fiscal support must be 'targeted and temporary'

Incorporating a Jersey Company

This briefing summarises the types of company available under Jersey law, the main steps involved in incorporating a Jersey company and some related points.

Regulatory Compliance: Bermuda Economic Substance and AML/ATF Regimes

Satisfying the ES Requirements will not always require an entity to establish a ‘brick and mortar’ physical presence in Bermuda.

Finance Industry body confirms support of funding for promotional agency

The agency is jointly funded by industry and the States of Guernsey, with government funding included as a priority in the latest iteration of the Government Work Plan.

Queen’s image to be removed from EC currency

The ECCB serves as the central bank for the islands of Antigua and Barbuda, Dominica, Grenada, St Vincent and the Grenadines, St Kitts-Nevis, Montserrat and Anguilla.

Regulatory & Risk Advisory Review: Cayman Islands – August to October 2023

The FATF announced its decision to remove the Cayman Islands from its list of jurisdictions subject to increased monitoring on 27 October 2023.

BoJ Monetary Policy Committee holds policy interest rate at 7%

Downside risks to this outlook include fiscal measures to counteract the inflationary pressures from recent regulated price increases....

Commission Fees for 2024

The consultation period ran for eight weeks, until 20 September 2023

An exercise in understanding risk and upholding standards

On-site visits are used to gather evidence through interviews with stakeholders in the public and private sector and assess the impact.

Bittrex Global to fold

At the time, Mr Burt said the company had six full-time Bermudian staff on-island.

Guernsey’s pioneering approach to the developing role of captive iNEDs

Julia explained that the role comprises helping to govern, lend experience and knowledge, and to be abreast of current developments in the industry. 

GIBA confirms support of funding for Guernsey Finance

The work of Guernsey Finance also helps to ensure bodies such as CityUK, the BVCA and the City of London Corporation understand the role the island plays in the flow of capital around the world and its value to the UK business community.

Guernsey pension funds: hedging longevity risk

Several insurance managers have established their own incorporated cell companies to facilitate longevity risk transfer transactions for their clients.

Upgrades to Guernsey Registry IT

The changes should all be completed before annual validations have to be submitted.

Aligning sales with compliance in the financial services sector

Sales strategies of some financial institutions may be out of step with trends in consumer behaviour

Government collaborating on banking access solutions for the Family Islands

Cooper, the Exuma and Ragged Island MP, spoke at the opening of Fidelity Bank on Exuma and noted that the island has been witnessing significant progress, with full employment and a desire for new investments.

Regulation, Risk & Compliance