12/22/2022
Finance firm surrenders licence after FSA investigation
The report found the company had not been fully compliant for several years because it hadn't invested enough time and resources in anti-money laundering.
Regulation, Risk & Compliance
12/21/2022
Sompo secures approval to consolidate its UK footprint
The move executes its strategic objective of consolidating its UK presence into one company market platform.
12/21/2022
“Don’t be complacent on data privacy” prompts international GDPR expert
Even some of the fines for small organisations have run into six figures.
12/21/2022
Tech hub suspends work amid payment row with Government
The Government earlier guaranteed a $2.5 million bank loan to InnoFund, which partnered with a leading technology accelerator based in Toronto and had a meeting with the Premier as plans to help boost business on the island were developed.
12/20/2022
Executive in fintech firm withdrew from Bermuda bank bid
Mr Sugarman was one of three men lined up to buy Bermuda Commercial Bank in 2019 but he was removed from the deal
12/20/2022
Fundsmith Extends Transfer Agent Relationship with SS&C
We look forward to working with SS&C, the world’s largest transfer agency provider, to constantly improve our customer service.
12/20/2022
Guernsey Financial Services Commission at COP15 to discuss how private capital can address biodiversity challenges
William’s attendance at the panel comes shortly after the Guernsey Financial Services Commission launched its Natural Capital Fund framework, as part of Guernsey’s growing Sustainable Funds Regime.
12/20/2022
Barbados Will Strengthen Public Policy And Fiscal Management With IDB Support
The program also supports increased cash transfer benefits to vulnerable populations and credit for low-income households to build or buy a home.
12/20/2022
RiverStone and Axis Capital in LPT reinsurance deal
The transaction, subject to regulatory approval, covers net reserves for losses and loss expenses of approximately $400 million and provides ground-up cover to a policy limit of $605 million.
12/20/2022
Cayman schemes – where are we now?
The scheme of arrangement of China Vast was approved by the Cayman Court and became effective on 5 December 2022,
12/19/2022
"Wholesale modernisation" of insolvency law welcomed
The new law is due to come into force on 1 January 2023.
12/19/2022
Income tax and NI offenders fined by magistrates
Magistrates hand out £32,000 of fines
12/19/2022
RiverStone and Axis Capital in LPT reinsurance deal
The transaction, subject to regulatory approval, covers net reserves for losses and loss expenses of approximately $400 million and provides ground-up cover to a policy limit of $605 million.
12/19/2022
Loan rate hikes
Jamaicans facing higher cost on loans as commercial banks raising interest rates
12/16/2022
Biltir supports BMA improvements to regulatory framework
The enhancements will cover technical provisions, Bermuda Solvency Capital Requirement computation and the flexibility of the BSCR framework.
12/16/2022
Tales from the Oriente: the first appointment of restructuring officers in the Cayman Islands
The Company is the parent company of a group (the "Group") which operates a leading financial technology platform providing alternative sources of credit to traditional retail banks for the unbanked and underbanked population of Southeast Asia,
12/15/2022
Labuan FSA Awarded The Brandlaureate e-Branding Bestbrands Award For FinTech Islamic Financial Services
The Labuan Islamic Digital Asset Centre or IDAC was unveiled in October 2022
12/15/2022
‘Shut down’ on FTX $300m Bahamas assets safeguard
He used the Capitol Hill hearing to blast the Bahamas’ provisional liquidation process for having “no transparency”
12/15/2022
Guernsey to progress public-private partnership
It was due to be debated at the States meeting on 26 January 2022 but was withdrawn from the agenda pending further engagement and consultation.
12/15/2022
Cybersecurity and data breaches in the Cayman Islands
The Rule and Statement of Guidance set out CIMA's requirements in relation to the management of cybersecurity risks.