Micro News

Micro News

The Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's official financial regulator, has published guidance clarifying regulations for the identification, verification and classification regarding the identity and particulars of ultimate beneficial owners (UBOs).  The new Luxembourg…


The governments of the Bahamas and the British Virgin Islands have objected to being added to the French list of non-cooperative jurisdictions.  Both governments have responded publicly regarding the lack of preliminary disclosure from France about being placed on the list. The announcement is similar…


After months of pressure from OECD, FATF and other financial intermediaries, Google has announced its decision to drop the Irish tax scheme it has used to divert its taxable profits into low-tax jurisdictions for the last several years. The scheme is based on a peculiarity in the Irish tax system legally…


Despite all of the Brexit commotion in the UK, the government have enacted regulations effectively bringing into force the EU 5th Anti-Money Laundering Directive (5AMLD) on time, unlike many other Member states. Many of the provisions outlined in the Money Laundering and Terrorist Financing (Amendment)…


Federal prosecutors in the state of New Jersey have arrested three men in connection with an apparent USD $722 million cryptocurrency scam involving multiple accounts from investors all around the world. They claim that the defendants induced thousands of investors to back a scheme called BitClub Network,…


This January 2020, finance ministers of Canada's provinces will carry out public consultations on the establishment of a publicly accessible registry of company beneficial ownership. Provincial governments are already in the process of legislating to force private corporations incorporated under the…


The global Financial Action Task Force have published new assessments of the anti-money laundering AML regimes in place for two countries severely lacking in terms of powers over asset freezing. The jurisdictions are namely Russia and Turkey. The assessments make various recommendations, with each country…


Last month, the Dutch parliament adopted an act requiring the registration of ultimate beneficial owners of corporate entities and other legal entities in the Netherlands, in accordance with the EU Fourth Anti-Money Laundering Directive. The identity of persons who access the register will be recorded…



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