Following receipt of a provisional banking licence in 2019, Capital International Bank has now received the full Class 1(2) banking licence under the Alternative Banking Regime (ABR) from the Isle of Man’s Financial Services Authority, which means it can now take on new clients.
Digital asset gateway Fasset awarded full regulatory clearance by Labuan Financial Service Authority
Fasset, a digital asset gateway and provider of tokenisation services for sustainable infrastructure assets, has received three separate full authorisations from the Labuan Financial Services Authority (LFSA), in the Federal Territory of Labuan, Malaysia to commence its digital asset business operations from the country.
The ID Register has been licensed by the Guernsey Financial Services Commission to carry on Controlled Investment Business. As a global hub for investor onboarding and registration, regulation supports the ID Register's single-sign-off service for investors, funds and service providers alike.
Despite an unprecedented number of new regulations being introduced into the Cayman Islands over the past 18 months, the jurisdiction has shown itself to be remarkably resilient, with the Islands’ funds industry in particular rising to the challenge and demonstrating its adaptability and flexibility.
By Jude Scott, CEO, Cayman Finance – As the unprecedented year that has been 2020 draws to a close, we can look to the year ahead with some optimism. That’s in part due to the resilience of the Cayman Islands financial services industry, which continues to meet evolving global best practices.
By A Paris – In what has been a rollercoaster year from all perspectives, 2020 saw the Cayman Islands being first placed on the European Union blacklist in February, followed by its removal from said list in October, after it made improvements to its tax framework.
By Jude Scott, Cayman Finance – In August 1864, 900 miles almost due North of the Cayman Islands, US Navy Rear Admiral David Farragut faced a pivotal moment. Leading a squadron charged with attacking Confederate forces in Mobile Bay, Alabama, Farragut’s flotilla encountered tethered mines known then as “torpedoes” which ultimately threatened his mission and his men. Acting decisively to navigate around the threat and pursue his objective, Farragut uttered the phrase that has now passed into military lore: “Damn the torpedoes! Full steam ahead!”
The passage of the Digital Assets and Registered Exchanges Bill, 2020 (DARE) has put in place the legal framework for a vital, well-regulated and compliant industry in The Bahamas for those interested in entering the digital asset space.
By Sam Sturrock (pictured) & Paul Monahan – As frequent advisers on Jersey fund start ups, Collas Crill are often involved in preliminary structuring discussions with new fund managers and sponsors.
By Chris Griffin (pictured) & Robert Milner – Recently, the unprecedented combination of Brexit and Covid-19 has generated a sharp rise in the number of fund managers contemplating a move to Jersey. In this article, Chris Griffin and Robert Milner, funds partners in the Jersey office of leading offshore firm Carey Olsen, explore the reasons behind the increase in interest.