Offshore chiefs bid to avoid EU blacklist
Island jurisdictions including Bermuda, Jersey, Guernsey and Cayman have been making last ditch efforts to avoid being blacklisted by the EU.
Island jurisdictions including Bermuda, Jersey, Guernsey and Cayman have been making last ditch efforts to avoid being blacklisted by the EU.
The chief executive of Providence Companies Group has been federally indicted, along with its chief operating officer, for orchestrating a $150m (£112.5m, €125.8m) fraud that saw the firm’s operations in Guernsey and a Jersey-based IFA firm shut down in 2016.
SG Guernsey, a wholly owned Stanley Gibbons subsidiary, has gone into administration with £70m in debts and leaving stamp collecting investors in limbo.
Louvre Group has formed a strategic alliance with M/HQ Dubai to enhance its specialist fiduciary services offering from the United Arab Emirates.
The UK’s crown dependencies and overseas territories have hit back at international media scrutiny and allegations that they facilitate tax avoidance and evasion following the leak of the Paradise Papers.
Guernsey looks set to make itself more attractive to high net worth expats with the adoption of a tax cut on open market property worth at least £1.5m ($1.98m €1.7m).
Fund managers Fidelity, Gam, Henderson, JP Morgan, Morgan Stanley and Schroder have been added to Momentum Wealth International’s Select Fund Range.
Investment promoters from a host of countries and territories will no longer have to obtain a licence from the Guernsey Financial Services Commission (GFSC) if their main place of business is in one of more than 100 jurisdictions.
Standard Chartered is under investigation in Guernsey and Singapore over a $1.4bn (£1.07bn €1.2bn) transfer of funds.
An entrepreneur who discovered her Slimming World shares were in a tax planning structure which would have had a disastrous impact on her wealth has had the blunder reversed in court.
The group chief executive of Guernsey-based European Wealth has decided to leave the company a week after announcing he would be taking an indefinite leave of absence and the company reported a loss for the first half of 2017.
Regulators in Guernsey have called on the island’s investment and insurance intermediaries to sharpen up following a thematic review that found room for improvement in the advice process.