09/29/2023
New corporate governance framework for Cayman managers and funds
CIMA’s Rules impose binding obligations on regulated fund entities and violations may result in administrative fines or regulatory actions.
Regulation, Risk & Compliance
09/28/2023
Preparing for the Guernsey MONEYVAL Assessment in 2024
The Guernsey Financial Services Commission are due to start reaching out this week to the sixty licensees whose names will be put forward to MONEYVAL for visits in April 2024.
09/28/2023
MFSA hosts EC TAEIX-TSI workshop on sustainable finance disclosure and reporting
Workshop brings together various experts
09/28/2023
New Shared Equity Scheme For First-Time Buyers In Jersey Announced
It is envisaged that up to 60 households will benefit from this scheme.
09/28/2023
Perez start-up to buy compliance consultant
BCCL will be rebranded as Nascent Advisory Services Ltd.
09/28/2023
Temporary exemption for registered and licensed employees to take second job extended
This measure helps businesses secure extra staff and facilitates the best use of workers already in the Island.
09/27/2023
New Rules on Corporate Governance and Internal Controls: Deadline of 14 October 2023 to Demonstrate Compliance
Insurers should also review their reinsurance arrangements and strategy against the revised Rule and Statement of Guidance on Reinsurance Arrangements, which comes into effect in May 2024.
09/27/2023
Cyber attack: Restoration of hacked computer service may take time
This will assist in standing up government services and providing access to those services for the public.
09/27/2023
Finance Committee: $68 Million in Extra Expenditures Authorized for Q4
It was noted that the “approval of these items by Finance Committee will now enable these items to form part of a Supplementary Appropriation Bill for the 2023 financial year
09/27/2023
Jersey's finance sector scrutinised to ensure compliance with international rules
There is also a 'black list' for countries designated as 'high risk'.
09/27/2023
Regulator reminds directors to register for new scheme
Those who qualify and register must comply with the third and fifth schedules of the Proceeds of Crime Law
09/26/2023
ABIR signs agreement with UK insurance association
Bermuda’s leading property and casualty re/insurers represent 44% of capacity in the Lloyd’s of London market
09/26/2023
Google makes decades-long commitment to Bermuda
The cable is called Nuvem – which means “cloud” in Portuguese – and is set for completion in 2026, ending a decade-plus drought in new capacity landing on the island.
09/26/2023
Jersey AML registration– update on non-executive directors and step-by-step guidance on how to register
One of the key changes made has been to remove exemptions for AML registration for people carrying on the business of being a non-executive director.
09/26/2023
Seychelles: Protecting Financial Consumers In Seychelles
The FCPA seeks to provide a legal framework to fairly and reasonably handle financial consumer disputes and to promote the development of the financial sector in Seychelles.
09/25/2023
European Court of Human Rights again rules against Malta on old rent laws
State condemned to pay €70,000 in compensation over two separate cases
09/25/2023
Govt to 'enforce' Bahamian understudy for expat hires
She implied that there has been no enforcement and accountability in the labour certificate process
09/25/2023
Guernsey's fast track application regime for managers of overseas funds
Mancos are able to expedite this process using a fast track regime for managers of overseas funds.
09/25/2023
Bermuda continues to struggle from cyberattack
All government e-mail remained knocked out over the weekend, along with the main switchboard, and it was unclear when normal operations would be restored.
09/22/2023
CIMA Confirms E-KYC and Remote CDD for Cayman
The acknowledgement was included in CIMA’s latest AML guidance