OffshoreAlert
Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

REGULATORY

eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

deVere USA ordered to pay legal costs of ex-CEO accused of fraud

January 15, 2019 - Investment advisor deVere USA, Inc., whose clients are primarily British expatriates, has been ordered to pay the legal fees and costs of former CEO Benjamin Alderson who is being sued for fraud by the SEC at federal court in New York.

Benjamin Alderson v. deVere USA, Inc.: Arbitration Award

January 14, 2019 - Letter providing court with copy of arbitration award in Benjamin Alderson v. deVere USA, Inc. at the U. S. District Court for the Southern District of New York.

Bermuda insurer FWD Life fined HKD2.4M by Hong Kong regulator

January 09, 2019 - Bermuda-licensed insurer FWD Life Insurance Company (Bermuda) Limited has been fined HKD2.4 million by the Hong Kong Securities and Futures Commission for compliance breaches.

FWD Life Insurance Company (Bermuda) Ltd.: Regulatory Fine

January 08, 2019 - Statement of Disciplinary Action by the Hong Kong Securities and Futures Commission regarding FWD Life Insurance Company (Bermuda) Limited.

Benjamin Alderson v. deVere USA Inc.: Letter Motion

January 07, 2019 - Motion to Compel deVere USA, Inc. to Pay JAMS arbitration fees in order to release an arbitration award in Benjamin Alderson v. deVere USA Inc. at the U. S. District Court for the Southern District of New York.

SEC v. China United Insurance Service, Inc. et al: Complaint

December 20, 2018 - Complaint in U. S. Securities and Exchange Commission v. China United Insurance Service, Inc. and Cheng-Hsiung Huang at the U. S. District Court for the Southern District of New York.

Seed Special Opportunities Fund: Registration Cancellation

December 18, 2018 - Decision Notice by the Cayman Islands Monetary Authority regarding the cancellation of the registration of Seed Special Opportunities Fund.

US regulator acts against Cayman's Beverstone Fund Management

December 18, 2018 - The National Futures Association has suspended Cayman Islands-domiciled Beverstone Fund Management and its Canadian principal, Roland Kaehler, for operating what appears to be a fraudulent scheme in which investors have lost over $6 million.

Beverstone Fund Management et al: Suspension

December 18, 2018 - Notice of Member Responsibility Action and Associate Responsibility Action in National Futures Association v. Beverstone Fund Management, of the Cayman Islands, and Roland Kaehler.

Novum Bank Ltd.: Administrative Penalty

December 18, 2018 - Public Announcement by Malta Financial Services Authority of an Administrative Penalty against Novum Bank Limited.

OffshoreConnect Free Sign Up

Stay informed & connected

  • Free Email Alerts on Breaking News
  • Free Access to Blogs by Industry Leaders
  • Free Contribute to Due Diligence Forums
Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.