Guernsey overhauls pension framework to match int’l standards
Guernsey has announced plans to overhaul its regulatory regime for pension product providers to bring it closer in line with the current international best practice standards.
Isle Of Man
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IoM regulator to publish members’ conflicts of interest
The Isle of Man Financial Services Authority will publish a register of its members’ possible conflicts of interest and draw up a code of conduct on the disclosure and management of its members’ interests.
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Canaccord on bolstering its presence on the Isle of Man
The acquisition of Duncan Lawrie’s Isle of Man business, which has bolstered Canaccord Genuity’s presence on the island, and its ability to create bespoke personal relationships with clients is helping the specialist wealth management firm stand out from its peers, Dermot Hamill told International Adviser.
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IoM taxpayers footing the bill for New Earth Group wind up
Taxpayers on the Isle of Man will pay for the winding up of collapsed investment fund New Earth Recycling and Renewable (NERR), part of the New Earth Group of Funds, after the island’s financial regulator stepped in to pick up the tab.
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OMI’s Kenny on the high net worth ‘sweet spot’
Peter Kenny of Old Mutual International talks to International Adviser about the Isle of Man-based life company’s move into the high net-worth arena and the challenges and opportunities to come.
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Isle of Man managing director for KPMG dies
Global audit, tax and advisory services firm KPMG has announced that the “much-loved” managing director of its Isle of Man practice, Mike Fayle, died on Saturday at the age of 63.
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Defunct Premier Group links uncovered in Panama Papers
Wound up Isle of Man-based investment fund manager the Premier Group has links to the Panama Papers, the worldwide scandal described as the “biggest ever blow” to the offshore world.
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Nicaraguan bamboo fund shut down by IoM high court
An Isle of Man-based fund that convinced 189 people to invest $61m (£49.6m, €56.8m) in bamboo plantations in Nicaragua by promising returns of up to 500% was wound up by order of the Isle of Man high court on Thursday.
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IoM regulator open to dialogue on commission disclosure rules
The Isle of Man’s financial regulator has underlined the importance of fine-tuning the scope and timing of its commission disclosure rules for international life companies, amid industry concerns about an unlevel playing field with local companies in markets such as the UAE.
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Canada taxman denies amnesty as more IoM schemes uncovered
The Canada Revenue Agency (CRA) has denied it is offering an amnesty to citizens using offshore company structures to avoid paying tax, adding that it is investigating a number of schemes it has uncovered on the Isle of Man.
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IoM regulator investigates another troubled sustainable fund
The Isle of Man Financial Services Authority (IOMFSA) has appointed a controller for Quadris Environmental Forestry Fund PCC, a fund investing in Brazilian teak plantations, its third such move against a sustainable fund in less than a year.
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Canada vows to curb tax dodgers amid KPMG offshore scandal
Canadian prime minister Justin Trudeau has vowed to do a “better job” tackling tax evasion and tax avoidance following a high-profile exposé into how wealthy individuals used an Isle of Man-linked offshore scheme to avoid paying C$130m (£79m, $97m, €91m) in taxes.