Managers of Wealth Offshore

FSC leak

Hacked files dumped on dark web

Foreign arrivals up 45 percent in Q2, Central Bank reports

“Disaggregated by major ports of entry, tourist arrivals to New Providence rose by 37.7 percent to 1.1 million visitors, vis-à-vis the 0.8 million passengers in the year prior,” the Central Bank reported.

The rule in Hastings-Bass under Cayman Islands’ statute

The Court will intervene to protect the interests of the innocent beneficiaries of the trust by setting aside the exercise, whether or not the beneficiaries might also have causes of action against the trustees or their advisers.

"New rights, enshrined in law"

[Trading Standards Service] have also updated their pages on gov.gg

Mauritius revoked licences of firm linked to Adani investors, reports Indian Express

The Emerging India Fund Management is the controlling shareholder of two overseas investors of Adani that are under investigation in India.

Updated Guidance Notes on the Prevention and Detection of Money Laundering, Terrorist Financing and Proliferation Financing in the Cayman Islands

The Updated Guidance Notes replace the previous version issued by CIMA on 5 June 2020, as supplemented in February 2021 and May 2021.

Exemptions to the licensing requirements of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022

The class exemptions are set out according to the type of licence that would otherwise be required.

Trina Solar: A Warning Regarding Reliance on Merger Price and Deficient Disclosure in s238 Proceedings

In fact, the Court held that no weight should be given to the merger price in this case and granted greater prominence to the DCF analysis.

CIMA amends guidance to accommodate e-KYC and Digital ID Systems

If applied correctly the use of e-KYC has many benefits.

Guernsey Retail Group warns Goods and Services Tax would harm retail and impact communities

This would further impact on community centres, so the GRG is asking the States to consider alternatives to a tax on consumption.

Guernsey States pension hike of 6.8% proposed

The proposed new policy would add a "look back" element to the current double lock

Call for Sites - Guernsey's Island Development Plan

The Call for Sites is an opportunity for residents, landowners, developers and organisations to suggest land in Guernsey that is both available and suitable for development

Merger of Bermuda Companies

It deals in broad terms with the requirements and procedures under Bermuda law for effecting such a merger.

Update: CIMA regulated fund filings

Funds with financial year ends falling subsequent to 31 December 2022 are still obligated to file their audited financial statements

Michael Martin serves great leadership in strengthening of St Kitts and Nevis CBI

Michael Martin- the Citizenship by Investment Unit of St Kitts and Nevis has been working to strengthen the programme to retain its position in the investment industry.

Confederation of Guernsey Industry warns population law is ‘damaging Island way of life’.

Businesses affected by this are struggling as the staff they employ are classed as unskilled, but they are not.

Revised AML Guidance Notes on e-KYC and Remote CDD / Ongoing Monitoring

The amendments support FATF-issued guidance on digital identification and provide for remote onboarding of clients and the use of e-KYC and digital ID technologies on an ongoing basis, where appropriate based on the risk assessment of clients.

GFSC puts risks posed by PEPs under microscope

THE way that Guernsey financial services firms manage the risk posed by politically-exposed persons, known in the industry as PEPs, has been under the microscope of the Guernsey Financial Services Commission.

Employers: are you keeping track of your workplace pension?

This figure will increase over the next five years with the widening scope of auto-enrolment and pay rises pushing up contributions.

Conduit Re installs Phinsys systems

Phinsys software enables insurers to conform data from multiple disparate systems into a single, scalable finance data warehouse

Regulation, Risk & Compliance