Ireland’s EU Commissioner has said a summit to finalise a Brexit deal is now unlikely to be held until December, pointing to further slipping in the negotiating timetable. Phil Hogan said if he was “a betting person” he would wager that there would be no deal this month. But his comments come amid reports in […]

The nominee director is a concept that is fraught with difficulties and often misused – if you offer such services you should consider the issues, risks and lessons learned from the mistakes of others 1. Within international corporate groups and many offshore [international finance centres], it is common to have ‘nominee’ directors appointed to the […]

  Another damning report has been released highlighting the extent to which the UK’s rules around company formation aren’t fit for purpose. Last week’s report from Global Witness exposes how criminals and the corrupt are exploiting the gaping loopholes in the UK company register. The UK introduced the world’s first publicly available register of beneficial […]

On 1 August 2018, the new Limited Liability Partnerships (Jersey) Law 2017 will replace the Limited Liability Partnerships (Jersey) Law 1997. The new framework will make the Jersey Limited Liability Partnership (LLP) more competitive and the vehicle of choice for local and international businesses. The Jersey limited liability partnership (the LLP) was introduced in 1997. […]

Foreign companies owning UK properties will have to reveal their ultimate owners on the world’s first public register. 5 years in jail for criminals who illegally profit from owning British property new public information will make it easier for law enforcement agencies to tackle money laundering while reducing opportunities for criminals to hide new data […]

In the context of Jersey’s financial services industry, the risk of modern slavery occurring in the operations of financial institutions is generally considered low, mainly because of the use of a skilled, professional workforce. However, all financial institutions have supply chains, which carry some risk. As an officer of a commercial organisation carrying on business […]

Fraud in the UK hit its highest level in 15 years in 2017, according to a new analysis, with financial services frauds quadrupling year-on-year. The total value of large reported frauds reached £2.11bn during the last year, according to accountants BDO. The research found a total of 577 cases in 2017, almost triple the 212 […]

2017 was an important year for the UK’s Serious Fraud Office (“SFO”). The Government’s plan to merge the SFO with the National Crime Agency was scrapped, seemingly securing the SFO’s future as an independent investigator and prosecutor. 2018 looks set to be equally important. Director of the SFO, David Green, is due to step down, […]