Tuesday, October 16, 2018

LATEST ARTICLES

Legally Speaking: Where justice requires confidentiality

The principle of open justice requires that justice must literally be seen to be done. But there are occasions when openness of court proceedings will be at odds with the requirements of justice.

New platform automates KYC checks for crypto transactions

About three years ago, Global Risk and Data Authority Limited launched a platform aimed at automating the know-your-client and anti-money laundering compliance processes for banks in Cayman, as well as onshore correspondent banks.

No ‘jumping the gun’ in regulating cryptocurrencies

Peter McKiernan, the cofounder of RiskPass AML+Compliance Ltd., stood at his laptop last week at a seminar on anti-money laundering practices for cryptocurrencies, demonstrating to the audience how to transfer cryptocurrencies across borders.

Crown Dependencies consult industry on substance legislation

The governments of Jersey, Guernsey and the Isle of Man are asking businesses for their views on proposed new legislation that will require certain tax-resident companies to demonstrate they have sufficient substance.

New rules shake up anti-money laundering services

Cayman’s fund industry is facing significant changes under new regulations to fight money laundering and the financing of terrorism.

BVI companies allegedly targeted by Russian oligarch

Proponents of offshore finance often argue that jurisdictions like Cayman and the British Virgin Islands help people from corrupt countries protect their wealth against theft and other forms of unlawful confiscation.

The changing landscape of litigation funding in Cayman

Businesses that litigate in the Cayman Islands courts have historically had few alternatives to the traditional funding model, i.e., paying a law firm a fixed hourly rate.

Trade tensions – unintended consequences

It is common rhetoric to describe U.S. President Donald Trump as a non-conformist. President Trump came out of the gate swinging, dismantling long-standing trade agreements and partnerships with neighbours, allies and the world’s second largest economy.

Tax problems for dual passport holders and ‘accidental Americans’

Despite all that’s been written about U.S. worldwide income taxation and complex informational reporting requirements, many individuals, particularly those living outside the U.S., remain noncompliant.

Rebalancing the BVI economy from the financial services industry to tourism

There are very serious economic and financial implications for the British Virgin Islands as a consequence of the United Kingdom’s decision to impose public registers of beneficial ownership on the Overseas Territories.

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