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SEC v Caledonian Bank: Motion to Intervene by Sentinel Trust Services

February 12, 2016 - Motion to Intervene by Sentinel Trust Services Ltd. in U. S. Securities and Exchange Commission v. Caledonian Bank Ltd. and Caledonian Securities Ltd. at the U. S. District Court for the Southern District of New York.

Caledonian Bank owners seek to block SEC settlement & force regulator to pay damages

February 12, 2016 - Cayman Islands-domiciled Sentinel Trust Services - claiming to be the owner of Caledonian Bank - is seeking to block the bank's proposed securities fraud settlement agreement with the SEC and force the regulator to pay damages for causing the bank's collapse.

Caledonian Bank officers 'complicit' in $38 m securities fraud, says SEC

February 08, 2016 - Records provided to the U. S. SEC by the liquidators of Cayman Islands-domiciled Caledonian Bank show that "high-level employees" of the bank were "complicit" in a pump-and-dump securities fraud by clients that netted a $38 million profit, says the regulator. Caledonian has agreed to pay $25 m in "disgorgement" but the SEC has agreed to "forgo payment" due to the bank's insolvency.

SEC v. Caledonian Bank Ltd. et al: Proposed Settlement

February 08, 2016 - Proposed Settlement in U. S. Securities and Exchange Commission v. Caledonian Bank Ltd. and Caledonian Securities Ltd. at the U. S. District Court for the Southern District of New York.

BVI regulator applies to liquidate Crescent Corporate Services

February 02, 2016 - The British Virgin Islands Financial Services Commission has applied to liquidate Crescent Corporate Services Limited "in the public interest".

AMS Insurance warned for 'obstructing' BVI regulatory investigation

January 23, 2016 - BVI-based AMS Insurance Management Services has been warned by the BVI Financial Services Commission for "obstructing" an investigation into one of its foreign clients, one of ten enforcement actions by the regulator during November - making it one of its busiest ever months.

BVI Financial Services Commission v. Crescent Corporate Services Ltd.: Liquidation Application

January 18, 2016 - Liquidation Application in the BVI Financial Services Commission v. Crescent Corporate Services Limited at the British Virgin Islands High Court.

WalwynLaw license revocation latest in flurry of Nevis regulatory activity

January 18, 2016 - Nevis-based WalwynLaw has had its license to act as a registered agent revoked - ten days after the law firm's principal, Leonora Walwyn, was arrested and criminally charged with forgery and fraud. It's the latest in a slew of regulatory and criminal actions over the last 17 months against attorneys and other professional service providers operating in Nevis, whose population is just 12,000.

Panama broker Verdmont Capital goes into liquidation

January 13, 2016 - Panama-based broker-dealer Verdmont Capital has become the latest offshore defendant in a securities fraud lawsuit filed by the U. S. Securities and Exchange Commission to go into liquidation.

SEC v. Verdmont Capital, S.A. et al: Notice of Liquidation

January 12, 2016 - Notice of Liquidation of Verdmont Capital, S.A. in U. S. Securities and Exchange Commission v. Caledonian Bank Ltd., Caledonian Securities Ltd., Verdmont Capital, S.A., Clear Water Securities, Inc. and Legacy Global Markets S.A. at the U. S. District Court for the Southern District of New York.
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DOJ Scores Big With Record-breaking Alstom FCPA Sentence -- Who's Next On the DOJ'S FCPA Hit List?
Eric Havian
By   Gordon Schnell      Late Friday, French power and transportation company Alstom S.A. was sentenced to pay a $772 million fine for violating the Foreign Corrupt Practices Act (FCPA) through its payment of millions of dollars in secret bribes to government officials across the gl