Stories that are tagged 'offshore'

	Gibraltar-Spain Tripartite Forum Abandoned? 5/16/2012 The Gibraltar government has said that the introduction of a new Spanish government of the People's Party has caused the disintegration of the tripartite forum between Spain, Gibraltar and the United Kingdom. The Forum had previously been credited with yielding improvements in relations between Gibraltar and Spain after more than a century of fractious relations.
	Swiss Asset Managers Slam 'Incoherent' Financial Centre Strategy 5/16/2012 During its general assembly in Zurich, the Swiss Association of Asset Managers criticized the government’s ‘white money strategy’, a new financial market policy geared towards the management of taxed assets, calling instead for a coherent strategy for the Swiss financial centre.
	IoM E-Gaming Sector Recognised 5/15/2012 E-Gaming companies resident in the Isle of Man scooped multiple awards at the eGaming Review Business to Business Awards, having been nominated for eighteen accolades.
	BVI To Enhance Companies Legislation 5/16/2012 The British Virgin Islands government has completed the first phase of implementing amendments to the Business Companies Act, set to enter into force later this year.
	Cayman Islands Target Brazilian Investors 5/16/2012 The Cayman Islands government has sought to bolster business relations with Brazilian investors by taking part in the recent Brazil Investment Summit.
	IRS Non-Resident Reporting Rule Questioned Again 5/16/2012 The Treasury Department’s failure to provide sufficient answers about Internal Revenue Service regulations requiring United States banks to disclose interest paid to non-resident aliens has prompted the House of Representatives’ Ways and Means Oversight Subcommittee Chairman Charles Boustany to request additional information.
	Hong Kong Abolishes Corporate Capital Duty 5/15/2012 The Registrar of Companies, Ada L L Chung, has announced that the capital duty currently levied on Hong Kong companies will be abolished from June 1, 2012.
	Cayman Regulatory Framework Endorsed 5/15/2012 Cayman Finance has welcomed the results of an independent study which places the Cayman Islands among only two offshore territories which have consistently implemented internationally-accepted standards on identity verification during due diligence processes.
	Guernsey Announces Aircraft Registry Plans 5/15/2012 The Guernsey government has announced that it has agreed with a private sector partner to launch an aircraft registry from the island.
	Gibraltar Proposes Law Change To Offer UK QROPS 5/15/2012 The Gibraltar government has published a Bill that would amend the territory's legislation to allow local practitioners to offer Qualifying Recognised Overseas Pension Schemes under a regime compliant with new rules set by the UK tax authority, HM Revenue and Customs.
	Qatar DTA Will Boost Investment In Bermuda, Says Cox 5/11/2012 Bermuda's Premier, and Minister for Finance, Paula Cox, has stressed that the signing of a Double Tax Agreement with Qatar will significantly strengthen the territory's ability to act as a western hub for the Islamic financial services industry.
	San Marino Urged To Consider New Economic Model 5/11/2012 Despite a 15% decline in tax revenues in San Marino over the past two years, authorities have been able to maintain a comparatively low deficit. However, the most significant challenges relate to the stability of the nation's banking sector, which has suffered capital flight as tax transparency initiatives gain ground, a new International Monetary Fund report says.
	Italy, Switzerland Agree To Tax Talks 5/11/2012 Following the recent positive developments with regard to the tax treaties between Switzerland and various European Union member states, a meeting held on May 9 between Swiss and Italian officials has agreed to the establishment of a working group to resolve the outstanding tax problems between their two countries.
	Turks And Caicos Takes Strides Towards Self-Rule 5/10/2012 The provisional Governor of the Turks and Caicos Islands, Ric Todd, has released a report detailing progress made towards fundamental reforms to the island's frameworks to prevent corruption, and correct fiscal imbalances, deemed necessary before the islands are returned to self-rule by the UK government.
	Hungary To Abolish Bank Tax 5/11/2012 The Hungarian government has announced plans to halve the country’s bank tax in 2013, before subsequently abolishing the levy in 2014.
	IMF Identifies Risks In Swiss Banking Sector 5/11/2012 The International Monetary Fund has said in its latest Article IV consultation with Switzerland that, while the fiscal position is healthy, there remain a number of risks to the country's financial services sector, amid the possibility of a real estate bubble.
	Jersey Enhances Regulatory Cooperation With Germany 5/9/2012 The Jersey Financial Services Commission has announced the signing of a cooperation agreement to boost its relationship with the German banking, insurance and investment firms' regulator, the Bundesanstalt fur Finanzdienstleistungsaufsicht.
	DIFC To Accept Credit Rating Agencies 5/10/2012 The Dubai Financial Services Authority has launched a consultation on new rules which would allow credit rating agencies to establish operations from the Dubai International Financial Centre tax-free zone.
	Financial Crisis Hits Jersey Finance Industry Profits 5/10/2012 The Jersey government's latest statistical report shows a significant decline in the profitability and size of the nation's financial services industry since the start of the financial crisis, putting pressure on Jersey tax receipts. Recent figures for 2011, however, show modest signs of improvements.
	Rajoy Eyes Taxpayer Funds To Shore Up Ailing Banks 5/10/2012 Marking a dramatic about-turn, Spain’s Prime Minister Mariano Rajoy has confirmed that he is no longer ruling out the idea of using taxpayers’ money to support ailing banks in Spain to avert a crisis and to restore confidence.
	Luxembourg Unveils Unsatisfactory Q1 Tax Revenues 5/9/2012 Luxembourg’s Finance Minister Luc Frieden has recently unveiled details of the country’s public finances at central administration level for the first quarter of 2012, and has defended the additional budgetary consolidation decisions taken by the government at the end of April.
	Offshore Merger And Acquisition Activity Rises 5/9/2012 A new report from Appleby shows that transaction values for mergers and acquisitions (M&A) in major offshore financial centers rose by 25% in the first quarter of 2012.
	Regulatory Change To Drive Onshore Fund Growth 5/9/2012 French hedge funds and the securities regulator AMF believe the Alternative Investment Fund Managers Directive will - more than UCITS - boost investor confidence in hedge funds and pave the way for potentially significant asset growth.
	India To Defer GAAR Implementation 5/9/2012 India’s Finance Ministry is to push back the implementation of its controversial general anti-avoidance rule for a year and will amend some of its key provisions.
	Gibraltar Promotes E-Gaming Specialism In US 5/9/2012 The Gibraltar government has sought to improve relations and expand on business opportunities with United States regulators, operators and businesses, with a delegation led by the Rock's Minister with responsibility for gambling, Gilbert Licudi, to the GiGse Totally Gaming conference in San Francisco.
	HMRC Issues Electrician Amnesty Reminder 5/7/2012 HM Revenue and Customs has issued a reminder warning electricians that they have only a limited time left to register for a tax amnesty scheme that would allow them to pay any undisclosed tax owed.
	Hong Kong Vows To Maintain Stable Property Market 5/8/2012 In a speech to the Oxford and Cambridge Society of Hong Kong, the Financial Secretary John C Tsang said that the government's initiatives to maintain a stable property market have been fairly effective, but that it would have “no hesitation in applying further measures,” if necessary.
	Left Demands Improvements To Swiss-German Tax Deal 5/7/2012 Despite cracks appearing in cross-party relations, Germany’s red-green federal states, governed by both the Social Democrats and by the Green Party, are said to remain united in their firm opposition to the Swiss-German tax deal, and in their demands for improvements to be made to the text.
	Nissan Infiniti Locates Global HQ In Hong Kong 5/4/2012 Invest Hong Kong has used its recent assistance to Infiniti, Nissan Motor’s luxury car brand, while basing its global headquarters in the city, to highlight Hong Kong's favoured position as a preferred location for overseas multinationals.
	IoM Welcomes CBI Endorsement 5/4/2012 The Isle of Man's Treasury Minister, Eddie Teare has welcomed further recognition of the role being played by competitive tax jurisdictions in supporting economic growth, in particular in the United Kingdom.
	Trinidad And Tobago Joins Nations Under Caribbean Court 5/4/2012 In a move that strengthens Caribbean legal cooperation, Trinidad and Tobago has agreed to adopt the Caribbean Court of Justice as the nation's final court of appeal, replacing its colonial link to the Judicial Committee of the UK's Privy Council.
	Hong Kong Readies Corporate Disclosure Regime 5/7/2012 Hong Kong’s Securities and Futures Commission and Hong Kong Exchanges and Clearing Limited have both welcomed the enactment of the Securities and Futures (Amendment) Ordinance 2012, which, in particular, establishes a statutory disclosure regime for listed companies.
	Insurance Ratings Agency Establishes DIFC Office 5/4/2012 A.M. Best, a leading provider of credit ratings and financial data for the insurance industry, has received the necessary approvals to begin regional business from the Dubai International Financial Centre.
	Swiss Left Seeks To Delay Debate On Tax Deals 5/4/2012 Switzerland’s Social Democrats have threatened to block in parliament the landmark withholding tax agreements concluded recently with Germany, the UK and Austria, if the treaties are not in accordance with the party line.
	Hong Kong Will Not Change Depreciation Rules 5/3/2012 In reply to a question in the Legislative Council, Hong Kong’s Secretary for Commerce and Economic Development, Gregory So, said that the government could not permit Hong Kong enterprises with import processing subsidiaries in Mainland China to submit claims for depreciation for machinery used there.
	HMRC Will Not Appeal Stamp Duty Ruling 5/3/2012 The UK tax authority, HM Revenue and Customs, will no longer seek to impose Stamp Duty Reserve Tax on the issue of shares to depositary receipt issuers and clearance services outside the European Union following a recent legal ruling.
	HKMA Reviews Its Progress In 2011 5/3/2012 In addition to its actions to strengthen further the risk management of banks through its supervisory actions and countercyclical measures on property mortgages, the Hong Kong Monetary Authority pointed, in its 2011 Annual Report, to its support to the further expansion of renminbi market activities in Hong Kong.
	Ireland To Tighten Tax Residence Rules 5/3/2012 Ireland's Minister for Finance Michael Noonan has launched a consultation on possible revisions to the current tax residence rules designed to ensure that affluent individuals that have strong economic ties to Ireland but are not tax resident pay a 'fair contribution' in tax.
	IoM Contributes To UK Tax Transparency Program 5/1/2012 The Isle of Man government has recently participated in an initiative funded by the UK's Foreign and Commonwealth Office to provide training to the British Overseas Territories of Montserrat and Anguilla to help them meet their international obligations on tax information exchange.
	India Obtains TIE Relaxations From Switzerland 5/2/2012 According to a statement from the India’s Ministry of Finance, the Indian and Swiss governments have signed a protocol to their bilateral double taxation agreement, which will allow for a 'liberal interpretation' of the identity requirements before the exchange of information.
	Barbados Targets US Investors 5/2/2012 Barbados's Prime Minister Freundel Stuart has highlighted the advantages of doing business in the territory for United States investors as the US Chamber of Commerce prepares to launch an office in the country this year.
	Dutch PM Confirms Bank Tax Rise 5/2/2012 The caretaker Prime Minister of the Netherlands Mark Rutte has confirmed that the country's proposed bank tax will be increased as part of the government's latest budget agreement, designed to reduce the deficit to 3% of gross domestic product next year.
	UK, EU Talk 'Shadow Banking' Regulation 5/1/2012 At a conference on ‘shadow banking’ in Brussels, both Michel Barnier, European Commissioner for Internal Market and Services, and Paul Tucker, the Bank of England’s Deputy Governor for Financial Stability, have outlined their views on policies for its better regulation.
	Ireland, US In Talks Over FATCA 5/1/2012 Ireland and the United States are in talks to establish a common approach to the Foreign Account Tax Compliance Act, drawing on domestic and international tax legislation and treaties.
	Di Pietro Calls For Tax Treaty With Switzerland 5/1/2012 Antonio di Pietro, the former anti-corruption magistrate and present leader of the Italia dei Valori opposition party, has written in his blog that the Italian government should now be looking to garner the EUR40bn (USD53bn) in tax revenue that could be available by concluding a tax treaty with Switzerland.
	IoM Discusses Clean Tech Prospects 4/30/2012 As part of its efforts to develop the Isle of Man into a hub for clean technology innovation, the Isle of Man government recently hosted round table discussions to consider the significant opportunities for offshore renewable energy and associated projects within the island's 4,000 sq km territorial waters in the Irish Sea.
	Uruguay To Exchange Tax Information With Argentina 5/1/2012 Uruguay has agreed to share tax information with Argentina, under a landmark double tax agreement recently signed between the two nations.
	Bermuda Financial Services Conference Hailed Success 4/30/2012 Bermuda has welcomed the success of the Annual Bermuda Financial Services Conference, held in London on April 24, 2012, which attracted an audience of more than 260 leading lawyers, accountants and financial services executives.
	DFSA Wins Regulatory Court Case 4/30/2012 The Dubai Financial Services Authority has won an important case before its own Regulatory Appeals Committee on the provision of financial services by a business and two of its company directors.
	EP Committee Seeks Wider FTT Net 4/30/2012 The Economic and Monetary Affairs Committee of the European Parliament has said in a recently adopted resolution that the European Commission’s proposed financial transaction tax should be better designed in order to capture more traders and to make evading it unprofitable.
	Switzerland To Conclude TIEAs 4/27/2012 The Swiss Federal Council has recently taken the decision to agree to the international standard on administrative assistance not only in double taxation agreements, but also in so-called tax information exchange agreements.
	Barbados's Tax Transparency Framework Endorsed 4/27/2012 The Barbados government has welcomed recognition from the Organization for Economic Cooperation and Development that its legislative and regulatory framework for the exchange of tax information meets international standards.
	German Cabinet Adopts Swiss Tax Deal 4/30/2012 The German cabinet has recently adopted the bill implementing the bilateral tax agreement with Switzerland.
	New Taxes In Hungary's Euro Plan 4/26/2012 The Hungarian government has recently adopted the second part of its ‘Szell Kalman’ plan, forming part of the country’s euro convergence programme and containing new tax measures to help shore up its revenue base.
	St Kitts, Brazil To Sign Free Trade Pact 4/25/2012 The government of Saint Kitts and Nevis has received notification from Brazil that it is ready to sign the Partial Scope Agreement on trade that the two territories have been negotiating for a year.
	Bermuda Concludes Marketing Push In China 4/26/2012 Business Bermuda, the promotional agency for the territory's financial services industry, has concluded a week-long business development and relationship-building trip in Shanghai and Beijing mirroring the decisions of other small, low-tax, financial centres targeting the region as a new source of financial services growth.
	Hong Kong Confirms Business Registration Fee Waiver 4/25/2012 The Revenue (Reduction of Business Registration Fees) Order 2012, which waives Hong Kong’s business registration fees for one year, came into effect on April 1, 2012, the territory's Inland Revenue Department has confirmed.
	France Publishes Revised 2012 'Black List' 4/26/2012 French Finance Minister François Baroin and Budget Minister Valérie Pécresse have recently updated the country’s ‘black list’ of countries deemed to be ‘uncooperative’ in tax matters.
	Malta Signs Gambling Oversight Agreements 4/25/2012 Malta's Lotteries and Gaming Authority has announced the signing of three cooperation agreements with other regulators, the European Sports Security Association, the sports integrity agency of global soccer association FIFA, and the Alcohol and Gaming Commission of Ontario, to strengthen its domestic oversight capabilities and contribute towards international enforcement efforts.
	Gibraltar Consults Industry On Transparency Enhancements 4/24/2012 The Gibraltar government is seeking input from the finance industry to help it form a response to recommendations received from the Organization for Economic Cooperation and Development on improvements deemed necessary to the territory's fiscal transparency frameworks for the exchange of tax information.
	Swiss Parliament Adopts Tax Deal With Austria 4/25/2012 Switzerland’s Federal Council has recently adopted the text of the withholding tax agreement with Austria.
	Jersey Builds Business Relationship With UAE 4/24/2012 Jersey Treasury Minister Philip Ozouf has arrived in the United Arab Emirates as part of a three-day official visit to promote Jersey's offerings as an international financial centre.
	India Reassures US On Retrospective Tax Plans 4/24/2012 India's Finance Minister Shri Pranab Mukherjee has defended plans for retrospective tax legislation, telling the US Secretary of the Treasury that the proposals merely clarify the intent of current laws.
	Spain Defends 2012 Austerity Measures 4/23/2012 During a recent address to congress to present and explain the government’s 2012 budget, Spain’s Secretary of State for Finance Miguel Ferre underscored that the tax measures provided for in the budget plans will enable the country to achieve its fiscal consolidation targets.
	French Banks Defend Tax Policies 4/23/2012 The heads of two top banks in France have recently defended the banks’ policies and actions to senators, as part of a Senate committee’s ongoing enquiry into capital flight.
	Guernsey Fund Lists On LSE 4/24/2012 A Guernsey closed-ended investment company has been used by Blue Crest Capital Management in its Initial Public Offering of a fund on the London Stock Exchange Main Market, advised upon by Channel Islands law firm Carey Olsen.
	London Invokes Clause To Improve Swiss Tax Deal 4/24/2012 In a diplomatic note, the UK has called for changes to be made to the bilateral withholding tax agreement concluded with Switzerland last October, aimed at resolving the issue of the undeclared wealth of British residents held in Swiss banks.
	Hong Kong To Trade Renminbi Futures 4/24/2012 Hong Kong Exchanges and Clearing Limited has plans to introduce renminbi currency futures in the third quarter of this year, subject to regulatory approval and market readiness.
	Hong Kong To Halve Import, Export Charges 4/20/2012 To boost Hong Kong's external trade by lowering transaction costs and thereby benefiting the import-export sector, the Commerce and Economic Development Bureau has proposed halving import and export declaration charges.
	Swiss Lawmakers To Examine German, UK Tax Deals 4/23/2012 The Swiss Federal Council has recently submitted to parliament the bilateral withholding tax agreements with Germany and the UK, together with the Federal Act on International Withholding Tax, designed to implement the new agreements.
	SVG's Tax Transparency Endorsed 4/20/2012 Saint Vincent and the Grenadines has welcomed the adoption of a report by the Organization for Economic Cooperation and Development that confirms the territory has adequate frameworks in place to meet international standards on tax transparency and information exchange.
	EU Tax Issue With Guernsey's Tax Regime 4/23/2012 Guernsey's zero-ten corporate tax regime has been confirmed as 'harmful' by the European Union's Code of Conduct Group on Business Taxation. The Code Group had previously ruled similarly in relation to the zero-10 regimes of both Jersey and the Isle of Man.
	Captive Insurers Increasingly Staying Onshore 4/20/2012 Corporates are more likely to form new captive insurance entities in onshore territories, such as in the United States and the European Union, and to opt for alternative captive structures, according to the findings of a new report.
	Bermuda Signs MLAT With The US 4/23/2012 Bermuda's Prime Minister Paula Cox has noted the recent conclusion of a new Mutual Legal Assistance Treaty with the United States, which will significantly boost cooperation between the nations, and aid the countries in more effectively tackling financial crime.
	German Bank Tax Yields Meagre Rewards 4/20/2012 Germany’s controversial bank tax is expected to yield meagre revenues this year of just EUR500m (USD655m), well below the government’s original target figure, and below the EUR590m derived from the levy last year, according to recent reports.
	Liechtenstein, Sweden TIEA Enters Into Force 4/19/2012 The bilateral tax information exchange agreement between Liechtenstein and Sweden has now entered into force, following ratification of the treaty by the relevant contracting parties.
	Maltese Developers Cry Foul On Property Tax Valuations 4/19/2012 The Malta Developers Association has called on the government to rethink the valuation of island property for the purposes of levying the 12% withholding tax on property sales, to take into account the falling price of real estate.
	South Africa Pushing For Tax Compliance By HNWIs 4/20/2012 In reply to a question in the National Assembly, South Africa’s Finance Minister Pravin Gordhan confirmed that the South African Revenue Service has taken steps to improve income tax compliance among high net worth individuals (HNWIs).
	Liechtenstein, Austria Eye Withholding Tax Deal 4/18/2012 Austria reportedly plans to re-launch talks with Liechtenstein at the end of April, aimed at negotiating a bilateral tax deal between the two countries to resolve the issue of untaxed assets held by Austrian residents in the Principality’s banks.
	IRS Issues Final Non-Resident Reporting Rule 4/18/2012 The Treasury Department has issued the final regulations on the reporting to the Internal Revenue Service of interest paid to non-residents by United States banks from January 1, 2013.
	New UK Non-Dom Scheme Welcomed 4/18/2012 The UK's new 'non-dom' legislation provides potentially attractive relief, but investors must be aware of the complex rules, lawyers have warned.
	Swiss Bankers Welcome Tax Deal With Austria 4/18/2012 The Swiss Bankers Association has recently taken note of the signing of the bilateral tax agreement between Switzerland and Austria, and has welcomed the fact that the Confederation’s strategy for tax conformity, defined over two years ago, has now been substantiated with a third European country following the agreements signed with the UK and with Germany.
	Spain's Rubalcaba Slams Tax Amnesty Plans 4/17/2012 Leader of Spain’s main opposition Socialist Party Alfredo Pérez Rubalcaba has recently announced his party’s intention to contest the constitutionality of the government’s planned tax amnesty, to prevent implementation of the ruling People’s Party’s latest proposals.
	Italy Delays Transaction Reporting For Banks 4/18/2012 The Italian Revenue Agency has delayed the obligation on banks and other financial institutions to identify transactions subject to value-added tax and of an amount over EUR3,600, that will have to be electronically reported to the tax authorities as part of the government’s efforts to increase tax compliance.
	Bermuda Remains Attractive To Reinsurers 4/17/2012 Bermuda has attracted eight highly-capitalized reinsurers holding Class 4 licenses in the past five years, with more than USD8bn in fresh capital, highlighting the territory's capability, and growth potential, as a top three reinsurance centre globally despite increased competition and the financial crisis, the government has said.
	Antigua Issues Plea To US On E-Gaming 4/18/2012 Prime Minister of Antigua and Barbuda, Baldwin Spencer, has met with US Trade Representative, Ron Kirk, to discuss Antigua and Barbuda’s internet gaming case against the United States.
	Hong Kong, Spain DTA Enters Into Force 4/16/2012 The agreement for the avoidance of double taxation, signed between Hong Kong and Spain on April 1 last year, came into force on April 13, after the completion of ratification procedures on both sides.
	Details Provided Of Taiwan's Proposed CGT 4/17/2012 Taiwan's Finance Minister Christina Liu has announced the structure of the new capital gains tax that the government will impose on profits made from trading in shares, bonds and derivative products, such as futures and options.
	FATF Mandate Extended To 2020 4/17/2012 Ministers from nations party to the Financial Action Task Force's 40+9 recommendations are to extend the organization's mandate to 2020, to allow the agency to continue its role of protecting the integrity of the international financial system through the development and enforcement of its anti-money laundering and terrorism financing standards.
	Liechtenstein, Switzerland Initiate DTA Discussions 4/16/2012 Switzerland and Liechtenstein have recently announced plans to negotiate a bilateral double taxation agreement between the two countries.
	Guernsey 'Singled Out' In UK QROPS Change 4/17/2012 Guernsey Finance, the promotional agency for the island's financial services industry, has condemned the UK tax authority's decision to remove almost all Guernsey Qualifying Recognised Overseas Pensions Schemes from its updated list, describing the move as an 'unjust attack on the island'.
	Legatum Chooses DIFC For Global HQ 4/16/2012 Private investment group Legatum has made a substantial investment in acquiring Precinct Building 6 within the Dubai International Financial Centre tax-free zone, which will serve as the firm's global headquarters.
	Switzerland Stands Firm On Revised German Tax Deal 4/17/2012 Staunchly defending the importance of the bilateral tax agreement with Germany, as a means to resolve the longstanding issue of undeclared assets held by German residents in the Confederation’s banks, Swiss Finance Minister Eveline Widmer-Schlumpf has ruled out any further compromises.
	Mauritius Builds Synergy Between Domestic Regulators 4/13/2012 Mauritius's Financial Services Commission and the territory's Financial Reporting Council on April 10, 2012, signed a Memorandum of Understanding to ensure effective information exchange in relation to financial reporting, auditing and corporate governance.
	IoM 50C Pension Scheme Falls Foul Of New QROPS Rules 4/16/2012 The Isle of Man government has responded to the recent update to UK rules regarding Qualifying Recognised Overseas Pension Scheme, which now excludes transfers to structures under Section 50C of the Income Tax Act 1970, known as 50C pension schemes.
	Jersey Business Sentiment In The Doldrums 4/12/2012 The prevailing sentiment among Jersey business is the most negative since records began in 2009, with business activity said to have fallen significantly in the first quarter of 2012.
	Offshore QROPS Domiciles Stunned At HMRC's Last-Minute Change 4/12/2012 The UK tax authority, HM Revenue and Customs has indicated that tax relief available on pension transfers, under so-called Qualifying Recognised Overseas Pension Scheme structures, will no longer be available unless the Scheme is offered within the territory in which the expatriate is newly resident, putting a multi-million offshore industry at jeopardy.
	Guernsey Fund Of Hedge Funds Receives European Accolade 4/11/2012 Guernsey-headquartered Legis Fund Services has been recognised as 'Best Administrator - under USD30bn Fund of Hedge Funds' at the HFMWeek European Services Provider Awards.
	Bermuda Welcomes Significant New Reinsurer 4/10/2012 The Bermuda government has welcomed the news that a new reinsurance entity will set up shop in Bermuda from June 1, 2012, as part of a joint venture between Validus Group and hedge fund manager John Paulson.
	Jersey Responds To QROPS Change With New Offering 4/11/2012 The Jersey government has announced the launch of a new Jersey-based pension scheme, the Recognized Pension Scheme, which provides a structure compliant with UK law following changes to UK rules regarding Qualifying Recognised Overseas Pension Schemes.

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