Outcomes Joint FATF/GAFILAT Plenary, 1-3 November 2017

Outcomes Joint FATF/GAFILAT Plenary, 1-3 November 2017

FATF President Mr. Santiago Otamendi and GAFILAT President Mr. Eugenio Curia, both from Argentina, chaired the first Plenary meeting of FATF-XXIX in Buenos Aires. This was a joint Plenary with GAFILAT, therefore all members of both organisations were able to participate in the meeting.

UK Reporting Obligations and UK Taxation of Offshore Structures Seminar

UK Reporting Obligations and UK Taxation of Offshore Structures Seminar

GACO has successfully organised and conducted a seminar on UK Reporting Obligations and UK Taxation of Offshore Structures on the 15th of November 2017. Speakers at this interesting, well organised and highly entertaining event, were Caroline Le Jeune, Head of Private Clients and Fiona Fernie, Tax Dispute Resolution Partner, both at Blick Rothenberg UK.

Authorised DLT Regulatory Framework from January 2018

Authorised DLT Regulatory Framework from January 2018

As from the 1st January 2018, any firm carrying out by way of business, in or from within Gibraltar, the use of distributed ledger technology (DLT) for storing or transmitting value belonging to others (DLT activities), will need to be authorised by the Gibraltar Financial Services Commission (GFSC) as a DLT provider. Firms seeking to apply are encouraged to speak to one of the local advisors as soon as possible.

Read more: http://www.gfsc.gi/dlt

Launch of NEXUS

Launch of NEXUS

GCID/GFIU has officially in cooperation with GACO, GFSC, OFT, RGP, Gambling Division, HM Customs, Tax Office, Gibraltar Law Office and other stakeholders in Gibraltar launched on October 18, 2017 the Gibraltar Financial Intelligence Unit Outreach Program called NEXUS.

Jurisdiction Risks and Threats

Jurisdiction Risks and Threats

Carlos Martins featured at 22:00 on GBC's Viewpoint.

GBC discusses the banking and finance industry and combating modern day risks and threats.

http://www.gbc.gi/tv/programmes/viewpoint-14/episode/210917-3552

4MLD and Amendments to POCA

4MLD and Amendments to POCA

This newsletter covers amendments made to the Proceeds of Crime Act 2015 (POCA) as well the introduction and amendments to secondary legislation made since late 2016...

Click to view / download (gibraltar.gov.gi)

2017 Basel Index Report Download

2017 Basel Index Report Download

This is the sixth edition of the Basel Anti-Money Laundering (AML) Index developed by the Basel Institute on Governance. The Basel Institute published the Basel AML Index for the first time in 2012 and has since then been the only non-profit organisation to create a research-based ranking focusing on the risk of money laundering and terrorist financing.

Jersey companies incorporated to implement tax scheme were UK resident, says tax tribunal

Jersey companies incorporated to implement tax scheme were UK resident, says tax tribunal

Three Jersey companies which were incorporated in order to crystallise capital losses for a group as part of a tax planning scheme were UK tax resident, the First-tier Tribunal has decided.

Crowdfunding models explained

Crowdfunding models explained

Utilising the power of the collective to achieve challenging goals is not a new phenomenon, think the Longitude Prize in 1714 and the crowdsourced creation of the chronometer. However, in a contemporary sense, crowdfunding began gaining real traction in 2008/09 with the birth of reward-based platforms IndieGoGo and Kickstarter, the two US giants, in an industry that has raised more than £2 billion globally. This is a good place to start differentiating the platforms and six key business models I am choosing to focus on. These are reward-based, donation-based, micro-lending, peer-to-peer, peer-to-business and equity.

Read more - Crowdcube

MiFID II and MiFIR

MiFID II and MiFIR

The Markets in Financial Instruments Directive II (MiFID II) entered into force on July 2, 2014, and must generally apply within Member States by January 3, 2018. MiFID II will drive significant changes to wholesale markets in the EU and impacts virtually all participants in those markets, some of them very significantly. MiFID II and its sister regulation the Markets in Financial Instruments Regulation (MiFIR) significantly builds upon the original MiFID (which they replace) in number of areas.

Read more (Duff & Phelps)

Pan-European Personal Pension Product (PEPP)

Pan-European Personal Pension Product (PEPP)

The Pan-European Personal Pension Product is a new EU pension,announced by Brussels on 29th July 2017, as an initiative to encourage saving for retirement. Pan-European Personal Pension Product will allow people that work from country to country to save into one just one fund without having to alter anything.

Read more - tailormadepensions.eu

GDPR messages for the boardroom

In the video below, Information Commissioner Elizabeth Denham talks about “the biggest change to data protection law for a generation”. The video is aimed at boardrooms and calls on businesses to see the commercial benefits of sound data protection, and act now to ensure they’re compliant by 25 May 2018.

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Gibraltar Association of Compliance Officers,

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