01/04/2023
Data protection registration and renewal window opens
The annual registration fee is based on the number of ‘full-time equivalent’ staff in each organisation and is unchanged from last year
Regulation, Risk & Compliance
01/03/2023
Bahamas regulator has seized $3.5 billion of FTX assets
The regulator seized the assets under a court order on 12 Nov. because of a risk of “imminent dissipation” of the assets, the commission’s executive director Christina Rolle said in an affidavit filed with the Bahamas Supreme Court.
01/03/2023
Natwest responds to bank fraud cases
Where customers have not supplied any card details, reported cases of plastic card fraud will be refunded in full.
01/03/2023
New requirement - Advertising for Cayman Islands temporary work permits
Generally speaking, anyone wishing to work in the Cayman Islands must first obtain permission to work, unless they are Caymanian.
01/03/2023
Bank fined €310,000 for failings on anti-money laundering laws
ECCM did not indicate where a transaction of €100 million came from
01/03/2023
Central Bank warns merchants over point of sale scam
Near Field Communication is a form of radio-frequency communication (RFID) that allows for communication between two electronic devices – close proximity wireless data transfer.
01/03/2023
Ten percent cost cut for digital payments planned
Sun Cash will leverage the Lotus Reward programme to bring in more customers into its Sand Dollar wallet, so they can grow their base.
12/30/2022
Central Bank wants stricter due diligence to stop another FTX
In its newly released guidelines, the bank is asking for the risk management framework governing digital assets activity to be fully integrated into the overall risk management processes of the supervised financial institution (SFI).
12/30/2022
Central Bank releases digital asset use guidelines for SFIs
The former executives of the cryptocurrency exchange have been charged with multiple counts and types of fraud.
12/30/2022
Bahamas regulator holds FTX assets pending delivery to customers, creditors
“All transferred assets were and remain under the sole control of the commission,” Rolle said.
12/29/2022
Maiden Announces the Successful Completion of the Conversion of its Preferences Shares, Series A, Series C and Series D for Common Shares
As a result of the Exchange, the Preference Shares were delisted from the New York Stock Exchange on the Exchange Date.
12/29/2022
Bahamas now largely compliant on all 40 FATF recommendations
The Bahamas has been in an enhanced follow-up process, following the adoption of the CFATF mutual evaluation report, which assessed the effectiveness of The Bahamas’ anti-money laundering and counter-terrorist financing (AML/CFT) measures and the co
12/29/2022
St Kitts & Nevis introduces raft of changes to its Citizenship by Investment Programme, benefits ...
Today marks a new era for the investment immigration industry as we boldly declare that a clear strategy will drive our Citizenship by Investment Programme with the sole purpose of benefiting our people and investors who want to see our nation flourish.&a
12/29/2022
Central Bank and SVB in disagreement about supervisory costs
The ruling explains that, according to the law, the supervisor must keep an overview of the activities performed in the context of the supervisory tasks.
12/28/2022
Money transfer transactions exceeded 12 million in 2021
The data also shows that December, the month in which it is believed cash is often sent as a holiday gift, is not always the month of highest inflows, as remittances have crested at other periods over the last three years.
12/27/2022
Leonteq reaches settlement in previously disclosed legacy litigation matter and provides business update
In the second half of 2022 to date, Leonteq continued to register reduced client demand on the back of an overall challenging market environment but recorded stable monthly net fee income over the same period.
12/27/2022
Termination of the Merger of Block.one Crypto Exchange with a SPAC
Block. Bullish, a cryptocurrency exchange, won’t be going public after all.
12/22/2022
Alderney set to raise electricity price cap
The increase is subject to approval by the full States of Alderney next year.
12/22/2022
Bank of Jamaica pauses interest rate increase
Holds rate at 7%
12/22/2022
IDB: Govt faces an unenviable balancing act
Macroeconomic challenges, driven primarily by external shocks, will continue to present risks