Micro News

Micro News

Any individual in Hong Kong carrying an unlicensed TCSP business after June 28th 2018 may face a maximum fine of up to HKD $100,000 and a six-month jail sentence if found to be operating a service provider without a license. Going forward, all Hong Kong-based trust and company service providers must…


The Jersey Royal Court's judgment in HSBC Trustee (CI) v Kwong (2018 JRC051A) gives guidance on the Jersey courts' approach to publishing judgments where trustees have asked the court for directions in administering a legally valid and binding trust. The court determined that, as the persons concerned…


In the recent case JTrust Asia PTE v Mitsuji Konoshita, The British Virgin Islands Commercial Court established directions and guidelines concerning the meaning and interpretation of a 'good arguable case' in a new precedent for a worldwide freezing injunction. In Upholding the freezing injunction obtained…


The EU Fifth Anti-Money Laundering Directive has been gazetted in the Official Journal of the European Union. The Directive will enter into force next month on July 9th 2018, giving all European Member States one year and a half to transpose it into each jurisdiction’s local law (by January 2020). Experts…


The EU saw DAC6 come into effect this week, a compulsory disclosure regime for all European cross-border financial transactions and transfers, creating an official standard within the Eurozone. As authorised by a Directive on Administrative Cooperation which has recently been amended. Provisional regulations…


The newly popularised structure of private placement life insurance policies has sparked interest with various US-based wealth advisors and private equity firms. The enticement being for HNWIs (High-net-worth-individuals) to invest in this new type of insurance vehicle that by default has the ability…


The Financial Services Minister for the Cayman Islands is set to spend a week-long trip in Brussels, in order to meet with EU officials, and speak on an OECD panel to address the global fight against tax evasion. The Minister will meet with a Conduct Group of the European Council and stated that her…


Last week, the EU announced it had made huge progress towards closing the blind spot with China and the tightening of its inspection of foreign appropriations in strategic business sectors such as communications and AI (artificial intelligence) after growing concerns about investments by China. The…


Wealthfront is a US-based digital wealth management company who uses robo-advisers to offer free financial advice to its clients. Last week it reported plans to start expanding its products and services. The new suite of financial products on offer will introduce a cash account with a rate on deposits…



Cyprus:
+357 25 02 50 34
Singapore:
+65 315 91 676
Russia:
+7 812 458 46 22
Skype:
eltoma.0015