News

Dubai Regulator Fines Liquidated Service Provider EUR €220,000

Morgan Gatsby, formerly known as Sidra Capital, is an international service provider and business conglomerate. The firm was founded in Dubai, and operates across a range of sectors in entertainment, media, infrastructure, finance, and precious metals.


Financial Transaction Transfer Pricing Guidance: OECD

The OECD has published its eagerly awaited transfer pricing guidance on financial transactions, in a technique it has never produced before and as such is trial guidance.


Cyprus Compliance Report: MONEYVAL Analysis Released

Statement of the Advisory Authority for Combating Money Laundering and Terrorist Financing on the publication of the 5th Round Mutual Evaluation Report of Cyprus by MONEYVAL, the Committee of Experts of the Council of Europe on the Evaluation of Anti-Money Laundering Measures and the Counter Financing of Terrorism.


Key Strengths & Weaknesses of Cyprus' Financial Sector in 2020

The Cyprus Advisory Authority has released a statement about the recent publication of the Mutual Evaluation Report (MER) about the island, which has been conducted by MONEYVAL (the Committee of the Council of Europe) after several months of investigations and evaluations.


Bill No.169: Beneficial Ownership Register in Panama Approved

The National Assembly of Panama have officially passed Bill No.169, which means that a private register of beneficial owners of Panamanian legal entities will be established imminently, accessible by authorised agents and designated officers.


Cayman Islands New Bill Targets Previously Exempted Mutual Funds

In order to comply with the Caribbean Financial Action Task Force's (CFATF’s) proposals for harsher AML (anti-money laundering) legislation, the Cayman Islands government has announced that a further five Bills are to be presented to the legislative assembly by next month (Feb 21st 2020).


EU 5th AML Directive Make a Harsh Environment for Cryptocurrency Companies

Several cryptocurrency companies announced last financial year that they will be unable to continue trading and will be stopping their operations as a result of the EU Fifth Anti-Money Laundering Directive (5AMLD), which is scheduled to come into effect in all EU Member States on 10 January 2020.


Denmark: Defiant EU Member States Should be Blacklisted

The Danish government has prepared an initiative, encouraging EU finance ministers across the bloc to consider extending the criteria for its blacklist of 'non-cooperative' jurisdictions, in order for faulting EU Member States to be included on the list.