Managers of Wealth Offshore

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,

"Wholesale modernisation" of insolvency law welcomed

The new law is due to come into force on 1 January 2023.

Income tax and NI offenders fined by magistrates

Magistrates hand out £32,000 of fines

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.

Loan rate hikes

Jamaicans facing higher cost on loans as commercial banks raising interest rates

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.

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,

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

‘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”

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It was due to be debated at the States meeting on 26 January 2022 but was withdrawn from the agenda pending further engagement and consultation.

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.

Offshore Centres Update: Q3 Sukuk Activity and Launch of Shariah Compliant Funds

In this Country Correspondent Report for Islamic Finance News ("IFN"), Manuela Belmontes discusses the activity of the sukuk market in Q3 and the launch of Shariah compliant funds

Wight warns over possible consequences of minimum wage as senators pass law

“The opportunities that struck me are for those earning less than $16.40 an hour and struggling to meet their needs for themselves and their families.”

Central Bank approves $200 million in transactions since investment currency premium waiver

Investor applications for approvals may be submitted directly to the Central Bank

FTX chief Bankman-Fried could fight extradition from Bahamas

Bankman-Fried was arrested at his Nassau apartment on Monday at the request of federal prosecutors in New York.

SEC complaint alleges Bankman-Fried orchestrated scheme to defraud investors of billions for speculative investments and to grow crypto empire

The SEC in court filings claimed that Bankman-Fried “portrayed himself as a responsible leader of the crypto community.”

Regulation, Risk & Compliance