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| BERMUDA
LAW AND TAX HEADLINES |
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BSX Approves Asian Fund Listing
03/10/2008 |
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The Listing Committee of the Bermuda Stock Exchange announced on October 1 that it has approved the listing of shares by Asia Pacific Basket Limited.
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Bermuda Comments On Effects Of US Insurance Tax Bill
24/09/2008
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The Association of Bermuda Insurers and Reinsurers has teamed up with the Coalition for Competitive Insurance Rates this week to write a letter of opposition to the US Senate Finance Committee's proposal to introduce a new 'isolationist' insurance tax.
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STORY
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Lloyd's Of London Boss Attacks UK Government's Tax 'Dithering'
08/09/2008 |
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The UK government must do something quickly to improve the country's corporate tax environment or risk presiding over an exodus of insurance firms to offshore jurisdictions, Lord Levene, the chairman of Lloyd's of London, has warned.
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Bermuda Enhances Solvency And Disclosure Rules For Insurance
18/08/2008 |
The Bermuda Monetary Authority has announced significant enhancements to Bermuda’s solvency and disclosure regulations for insurance, including the publication of financial statements submitted to the Authority under new reporting requirements for high impact insurers, using Generally Accepted Accounting Principles or GAAP.
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Survey Shows High Global Awareness Of Bermuda's Business Product
12/08/2008 |
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The results of a recent survey by the Bermuda International Business Association (BIBA) show that there is a high level of awareness among the global finance, legal and tax professions of Bermuda's financial services product, BIBA has announced.
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BSX Joins The European Securitisation Forum
08/08/2008
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The Bermuda Stock Exchange (BSX) announced on Wednesday that it has joined the European Securitisation Forum (ESF), an affiliate of the Securities Industry and Financial Markets Association (SIFMA).
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Caribbean Tax Administrators Meet In Belize
23/07/2008 |
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The 20th General Assembly of the Caribbean Organization of Tax Administrators (COTA) has convened in Belize this week for a four day conference.
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Bermuda Publishes Rules And Reporting Framework For Basel II
15/07/2008 |
Following lengthy consultation with industry, the Bermuda Monetary Authority (BMA) has published the 'Revised Framework for Regulatory Capital Assessment', which sets out in a single policy document the final rules for implementation in Bermuda of Pillars 1 and 2 of the new Basel II international capital accord.
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STORY
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Commons Foreign Affairs Committee Publishes Report On Overseas Territories And Offshore Centres
11/07/2008 |
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The Commons Select Committee on Foreign Affairs in the UK late last month published its seventh report addressing issues surrounding overseas territories and offshore centres.
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UK Real Estate Fund Lists On BSX
09/07/2008 |
The Listing Committee of the Bermuda Stock Exchange (BSX) has announced the approval of the listing of shares in UK real estate fund Ciref Europe Limited.
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Bermuda And US Sign Non-Commercial Aviation Agreement
04/07/2008 |
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Passengers and crew of private aircraft departing Bermuda are expected to soon have the rare benefit of United States Customs pre-clearance at Bermuda's L.F. Wade International Airport, according to a Letter of Intention signed jointly in Washington, D.C. by Premier of Bermuda Ewart F. Brown (pictured) and US Secretary of Homeland Security Michael Chertoff.
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OTCC Meets In Turks And Caicos
16/06/2008 |
The leaders of the UK's Overseas Territories were recently hosted by the Turks and Caicos Premier, Michael Misick (pictured) at a meeting to prepare for the Overseas Territories Consultative Council (OTCC) meeting in London later this year.
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Bermuda To Contribute To UK Offshore Inquiry
30/05/2008 |
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The government of Bermuda intends to file a submission to a UK parliamentary investigation into the operation of offshore financial centres, the jurisdiction's Finance Minister, Paula Cox has announced.
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Bermuda And BVI Cooperate In Mutual Fund Fraud
12/05/2008 |
A British Virgin Islands court has confiscated more than USD45.5mn from a mutual fund based in Bermuda after it was found guilty of fraud - thought to be the largest court order of its kind in the Commonwealth.
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Commons Report Finds UK Overseas Territory Risk Management Ineffectual
05/05/2008 |
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The Foreign and Commonwealth Office (FCO) is not doing enough to manage the risks arising from the UK's liability for the 14 Overseas Territories choosing to remain under British sovereignty, according to Edward Leigh, Chairman of the House of Commons Committee of Public Accounts.
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UK Lawmakers Launch Offshore Inquiry
01/05/2008 |
The House of Commons Treasury Committee has announced that it is to undertake an inquiry into offshore financial centres and their impact on global business and investment, and the international fight against money laundering.
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Bermuda's Insurance Market Performing Well, Says BMA
18/04/2008 |
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The Bermuda Monetary Authority (BMA) reported this week that the Bermuda insurance market continues to maintain strong performance, against a backdrop of a soft global market.
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ACE To Redomicile In Switzerland
25/03/2008 |
The board of global insurer and reinsurer ACE Limited, has approved a proposal to relocate the company's place of incorporation from the Cayman Islands to Switzerland, from where the business expects to benefit from that country's extensive network of tax treaties.
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Dubai To Host World Insurance Forum
17/03/2008 |
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The Dubai International Financial Centre (DIFC), has announced that it will be hosting the World Insurance Forum (WIF), which for the first time will be held outside Bermuda.
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Cox Announces 2008 Bermuda Budget
19/02/2008 |
Stressing the need for fairness to underpin the Bermudian tax system, Finance Minister Paula Cox announced in her 2008 budget speech that company fees, social insurance tax and payroll tax will rise.
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