Malta: 2014 In Review: A Year Of Continued Dynamism And Growth

Changes in EU regulation and further consolidation across the financial services sector have continued to drive growth in financial services during 2014 as total number of licences topped the 800 mark.

Investment services registered high levels of growth particularly with the issue of 17 new Category 2 licences, an indication of the strong expansion taking place in the asset management industry. During the year, 22 managers were issued with new or revised licences to operate […]

By | February 2nd, 2015 ||

Start Asking Questions About Guernsey QROPS Now Rather Than Later

Is your client locked into a Guernsey QROPS? Our head of international pensions has a word of warning.
With the pension market opening up as the UK Government moves to create “Pension Freedom”, it would appear that some Guernsey schemes might seek to prevent those who have transferred their UK Pension Funds to a (now closed) GuernseyQROPS from taking advantage of the new regulations.

One Guernsey provider commented (extract):

“We are starting to see requests from other QROPS clients […]

By | January 31st, 2015 ||

Canada: More Employer Liability Risks With New Ontario Employment Standards

Employment Standards Act, 2000 (ESA)
a.) Monetary Cap on Claims Eliminated and Time Limits Increased

The cap on ESA claims is being removed. As of February 20, 2015, the maximum amount an employment standards officer may order for unpaid wages will no longer be capped at $10,000 per employee. The new section 103(4.1) under Part XXII “Complaints and Enforcement” will impose no limit on the amount an officer may order. This change will make the ESA […]

By | January 31st, 2015 ||