04/20/2018
Softbank failed to report Bermuda earnings
The US companies had arrangements to divert part of the money they paid for business purposes to their subsidiaries in Bermuda so as to maximise profits, according to the newspaper.
Legal,Regulation,Tax & Compliance
04/17/2018
Bermuda Tables Initial Coin Offering (ICO) Legislation
A company wishing to launch an ICO can incorporate within the typical timeframe of 24 to 48 hours using Bermuda’s usual incorporation procedures.
04/05/2018
Japanese and Swiss regulators ink fintech pact
This Cooperation Framework recognises the global nature of innovation in financial services and intends to enhance the relationship with FINMA on FinTech.
04/05/2018
South Africa's central bank mulls cryptocurrency regulations
The self-regulatory organisation (SRO) would be a non-governmental body with the power to publish its own rules, directives and industry standards
04/05/2018
Indonesia goes hi-tech in hunt for tax assets after amnesty
The majority of Indonesia’s more than 250 million people do not pay tax and many are not even familiar with the concept of paying.
04/05/2018
South Africa’s Central Bank to Setup Cryptocurrency Self-Regulatory Organization
“Regulating cryptocurrencies prematurely could have the negative consequence of throttling the growth and innovation of the industry.”
04/04/2018
Liechtenstein to Avoid 'Excessive' Blockchain Regulation: Prime Minister
"The law is intended to regulate all activities that are possible on technical systems such as distributed ledgers and blockchain systems, and thus provide legal certainty,"
04/02/2018
BSP to adopt 2 regulatory technology solutions this year
Fonacier said the R2A project is fully funded by the United States Agency for International Development, Bill and Melinda Gates Foundation, and Omidyar Network.
04/02/2018
MAS and financial industry to develop guidance on responsible use of data analytics
The guide is targeted for completion by the end of the year. It will cover all segments of the financial sector including FinTech firms.
03/28/2018
Cyberattacks Now Priced Into Debt at Biggest Bank in Scandinavia
Nordea is designing corporate products to reflect cyber risks
03/28/2018
IFC Launches Digital Lab to Drive Nearshore Digital Transformation
The lab, staffed mostly with financial experts, will partner with IT consulting firm Accenture and persuade regional banks to harness cutting-edge financial technologies.
03/27/2018
Fund managers stick with Facebook but order change
That has hurt Facebook's legion of fund manager backers, who have been enthusiastic buyers of the shares after their flotation in 2012, since when they have risen by more than 300%.
03/27/2018
How Law Firms Can Prepare for FinTech Wave
The innovations and industry disruption should have law firms snapping to attention.
03/26/2018
Regulator planning to look under hedge funds' hoods
While examiners could call in enforcement investigators in case they see red flags, their main objective is to inform how the SEC’s rules should address the burgeoning field of cryptocurrency investment.
03/25/2018
Zuckerberg apologises with full-page newspaper ads
'This was a breach of trust, and I’m sorry we didn’t do more at the time.'
03/23/2018
UK and Oz regulators strengthen fintech partnership
Where a business is a participant in either Authority’s regulatory sandbox and would like to enter the other’s, the FCA and ASIC will endeavour to facilitate that participation.
03/23/2018
Japan regulator warns cryptocurrency exchange Binance over unregistered ops
The regulator said Binance likely allowed Japanese residents to open accounts without confirming their identities
03/23/2018
South Korea To Investigate Banks in Cryptocurrency-Linked AML Clampdown
South Korean officials are looking at ways to reduce risks associated with cryptocurrency trading.
03/23/2018
OECD issues interim report on tax challenges arising from digitalization
There is no consensus agreement among countries over the tax implications of scale without mass and a greater reliance on intangibles.
03/23/2018
Tax ruling offers alternative tax treatment for foreign investment corporations
For funds that do not fulfill the conditions for tax exemption (typically, small funds with few investors), the ITA has applied an alternative arrangement known as the “small funds tax arrangement.”