12/27/2023
BMA revokes registration of Vesttoo fund
The BMA noted that the fund did not appeal the decision.
Regulation, Risk & Compliance
12/27/2023
CIBC Continues To Warn Customers Of Emails From Fake Vendors
Fraudsters use slight variations on legitimate addresses to fool victims into thinking fake accounts are authentic.
12/22/2023
BVI Court Freezes Three Arrow Founders' Assets
Following its collapse in 2022, Singapore-based 3AC filed for bankruptcy in the British Virgin Islands with local courts appointing Teneo as its liquidator.
12/22/2023
Carey Olsen increases market share as leading legal adviser to Guernsey funds industry
The Report found that fund assets serviced in Guernsey stood at US$517.5 billion at the end of June 2023.
12/22/2023
Paperless Listing Regime and Mandatory Electronic Dissemination of Corporate Communications
In such circumstances, amendments would need to be made to a listed issuer’s current bye-laws or articles of association for compliance with the paperless listing regime.
12/22/2023
Guernsey relaxes two-year rule to support employment challenges
As part of its work to deliver on the ambitions of the Population and Immigration Policy Review agreed by the States Assembly
12/22/2023
BMA puts R&Q legacy transactions on hold
The deal, which required shareholder and regulatory approval and was expected to close in the first half of 2024
12/21/2023
BOV sells chunk of non-performing loans for €26 million
Bank of Valletta sells portfolio of 707 non-performing loans to third-party acquirer
12/21/2023
FTX Trading Ltd reaches global settlement agreement with Bahamian liquidators
In a collaborative effort, FTX and FTX Digital Markets have decided to pool their assets and align their methods for assessing customer claims.
12/21/2023
Positive Development for the Cayman Islands: EU AML Delisting Process Commences
The Commission consulted the EU's Expert Group on Money Laundering and Terrorist Financing before adopting the Delegated Regulation.
12/21/2023
Guide to Gambling Law in the Isle of Man 2024
Casino gaming is regulated by the Casino Act 1986 (CA 1986).
12/21/2023
Positive Development for the Cayman Islands: EU AML Delisting Process Commences
The Commission consulted the EU's Expert Group on Money Laundering and Terrorist Financing before adopting the Delegated Regulation.
12/21/2023
BMA registers four insurers in November
The BMA noted that the registration/licensing of approved insurance entities is issued after the IALC application process and may be confirmed in future periods.
12/21/2023
CIBC Says: Date Payrolls 21 Dec To Avoid Late Salary Payments To Staff
CIBC FirstCaribbean wishes you happy holidays and a prosperous 2024.
12/20/2023
Regulatory Authority approves cut to FAR
It brought frustrated protesters out to picket the Belco headquarters on Serpentine Road in Pembroke.
12/20/2023
Converting a PIC to a Standalone Licensed Entity
A significant benefit of the PIC product has always been the ability of a sponsor/group to utilise a PIC to dip its toe into Cayman regulatory waters
12/19/2023
Regulator concludes that cost of business connectivity and broadband prices are too high [Updated]
Leased lines are key building blocks for businesses relying on telecommunications connectivity.
12/19/2023
Guernsey regulator says Sure's broadband prices are "far too high"
The independent regulator has now instructed Sure to lower its prices from 1 April 2024 by 31%.
12/18/2023
Temping agency sacks workers after charging them fees for job
New law says agency licence may be lost for charging fees
12/18/2023
UK finalises Jersey’s law enforcement data adequacy decision
A law enforcement data adequacy decision is when the government determines a country, organisation or sector meets the UK’s standards by assessing its law enforcement data protection legislation.