Managers of Wealth Offshore

BMA stress tests show long-term market’s resilience

Liquidity stress tests were included in the annual mandatory filings for the first time for year-end 2023 reporting.

Jersey Occupational Pension Schemes: Applications for Approval and Notice Requirements

The Comptroller will also give notice in writing when approval is not given to a scheme.

Constructs in industry loss cat bonds

ILS investors favour them because, unlike catastrophe bonds which use an indemnity trigger

P&R backs move to suspend law for telecoms sale

Mr Trott said the competition law "allows for exemptions where there is a clear public benefit, and this is one of those cases".

White Rock sues Chinese bank over Vesttoo scandal

The filings, first reported by Intelligent Insurer, are also against a banker claiming to represent CCB.

Ebanks backs contentious fees proposal process

Among those that could be impacted by the fees is the government workers credit union, which has spoken out against the proposed $200,000 fee for cooperatives.

Enforcing a foreign judgment in Guernsey

Enforcement against a company is generally (for debts over £750) initiated by way of statutory demand, which is served by HM Sergeant at the company's registered office.

Politicians call for smaller rise in minimum wage

The proposals are due to be debated during the first week of September and, if approved, would come into force on 1 October.

Guernsey funds legal and regulatory update September 2024

The Guernsey Financial Services Commission (the Commission) has issued a discussion paper (the Paper) on the future of sustainability reporting in the Bailiwick of Guernsey

Disapplication of the Rule Against Perpetuities Takes Effect in the Cayman Islands

The new legislation further strengthens the Cayman Islands position as a leading trust jurisdiction catering for the needs of global high net worth clients and their families

Collas Crill contributes to Chambers and Partners Enforcement of Judgments 2024

Within the chapter, Stephen, Annalisa and Kirsten shed light on the Cayman Islands' existing procedural framework

The new UK Listing Rules: what does this mean for Jersey companies?

The new listing rules which impact listings on the Main Market (as opposed to AIM) provide a simplified regime, which, coupled with the flexibility of Jersey companies, could make an attractive combination.

Nothing lasts forever... or does it? New perpetuities legislation introduced in the Cayman Islands

The rule against perpetuities currently applicable in the Cayman Islands is derived from English law

Cayman Islands’ re/insurance industry continues to thrive: CIMA

As at the end of Q2 2024, a total of 24 new international insurance licenses have been issued, marking a 50% increase over the same period in 2023.

Reducing human error in data protection: The crucial role of training and compliance tools

Training in data protection awareness helps to keep data protection at the forefront of employees’ minds

Managing risk is riskier than ever

The Jersey Financial Services Commission notes that Moneyval has led to the equivalent of a decade of regulatory and legislative change in the past two years.

Financial services activity, fee increases boost government surplus

Most financial services and licensing fees, which make up more than one-third of government’s annual revenue, are due in the first quarter.

NY regulator fines Nordea $35M over AML failures

The fine will have “no material impact” on Nordea’s financial position, the bank said.

Jersey Finance Welcomes Tokenisation of Real World Asset Guidance as Evidence of Jersey’s Maturity as a Virtual Asset Jurisdiction

Recognising the innovative potential of blockchain technology, the new guidance seeks to promote Jersey’s competitiveness as an international finance centre (IFC) by clarifying the JFSC’s regulatory expectations in relation to this technology.

Cayman Islands abolishes perpetuity rule in legislation

This adjustment does not affect Cayman Islands STAR trusts, which were already exempt.

Regulation, Risk & Compliance