Sovereign Report – Issue 6

Content Summary

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Download a copy of Issue 6

1. European News
   • Jersey: Anti-money Laundering guidance
   • Switzerland: Private banks publish due diligence rules
   • UN: 31 Financial centers commit
   • Liechtenstein: Amends due diligence law
   • EU: Agrees to lift bank secrecy
2. USA & Caribbean News
   • Bahamas: Tables anti-money laundering laws
   • Canada: Trust Changes delayed
   • UK Overseas territory: Timetable for reform agreed
   • USA: FinCen issues advisories against 15 jurisdictions
3. Far East News
   • Hong Kong: US Dollar clearing system launched
   • Mauritius: Anti-money laundering legislation in force
   • Seychelles: Economic Development Act repealed
   • Brunei: Sets up new financial center
4. Legal News
   • Jersey: Disclosure of trust documents
   • England / Wales: Asset-freezing orders
   • Isle of Man: Assisting foreign authority
5. Fiscal News
   • OECD: Invites tax havens to endorse collective memorandum
   • Isle of Man: Tax reforms approved
   • EU: Proposed tax directive reviewed
   • Gibraltar: New tax regime proposed
6. Special Report
   • Profile Qis
   • US Qualified intermediaries regime for beneficial owners of US-source income