New Service for Fund and Manager Boards

The Financial Protection and Advice Service, an independent monitoring and support service to enhance risk management and prevent financial losses, provided by Thorndon with input from the GIFA NED Committee has now been up an running since November 2018 and starting to gain some traction. Today a press release was issued. If you require further […]

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The New Handbook

The summary below is provided by KPMG in its recent release entitled – The countdown begins…New GFSC Guernsey Handbook. Further details can be found here. Releases on the Handbook have also been made by other entities such as Ogier. On 12 November 2018, the GFSC issued the new Handbook on Countering Financial Crime and Terrorist Financing (the […]

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UK and EEA regulators agree no-deal MoU

The FCA and ESMA have announced the agreement of a multilateral regulatory cooperation agreement (MoU) between the FCA and EEA regulators. An agreement of this nature is required under AIFMD for the UK to enjoy certain rights as a third country if there is no Brexit deal. Amongst the most important of these for our […]

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GILTI or maybe not……..

The United States has recently imposed the Global Intangible Low-Taxed Income tax (‘GILTI Tax”) on Controlled Foreign Corporations (‘CFCs’), i.e. non-US companies where a US company, partnership or person owns more than 50 percent of that non-US company. The GILTI Tax is primarily aimed at the likes of Google, Apple, Amazon etc. to try and […]

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Guernsey’s Fund Sector Continues to Grow

Guernsey’s fund industry has enjoyed a positive second quarter of the year with assets under management and administration in Guernsey’s fund sector continuing to grow. The net asset value of funds under administration rose 5.2% to £276 billion at the end of June. Non-Guernsey schemes were responsible for the majority of this increase, which is […]

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