A US bankruptcy court hearing into Providence Financial Investments, the Miami-based parent of Providence Global which was wound up in Guernsey last month, was told by the firm’s chief restructuring officer, who examined the books, that “nothing in this company is working”.
The Shanghai-based wealth manager Noah Holdings has set up a trust with international service provider JTC in Jersey to address the increasing succession planning needs of its high net worth clients in China.
The Jersey Financial Services Commission (JFSC) has signed a memorandum of understanding with Liechtenstein’s Financial Market Authority (FMA) to cooperate on supervisory matters, information exchange and the oversight of regulated firms.
Jersey’s financial services regulator has launched an investigation into the sale of the Providence Investment Funds to clients of Jersey-based independent financial adviser firm Lumiere Wealth.
Jersey’s Financial Services Commission (JFSC) and the island’s government have proposed a new and universal professional investor definition, phasing out unregulated ETFs, and rebranding and amending the jurisdiction’s very private funds regime.
A senior management shift has seen Pimco poach its new chief executive from Man Group. Brewin Dolphin has named two divisional directors, while T. Rowe Price has created a new head of strategic partners role.
First Names Group has received regulatory approval to acquire trust and corporate services provider Nautilus Trust Company in Jersey, Hong Kong and London.
Jersey has developed a brochure to advertise the island as a destination for the formation and administration of philanthropic structures.
Jersey is keen to sign more double taxation agreements (DTA) having signed its latest such accord with the Republic of Cyprus on Monday.
Friends Provident International and Old Mutual Global Investors have announced senior appointments in Asia. Legal & General Investment Management has created a new head of wealth management role and Axa IM has boosted its UK distribution efforts with its latest recruit.
The financial services sectors of Jersey, Guernsey, and the Isle of Man should see little, if any, change following the UK’s decision to leave the European Union.
The UK narrowly voted on Thursday (52:48) to leave the European Union, an unprecedented move with an unclear outcome. What follows will undoubtedly be at least two years of uncertainty, but how will the offshore financial centres fare?
