09/20/2024
FSCS declares Staffs wealth manager as failed
The FSCS declared Pro-Synergy Wealth & Tax Management Ltd as in default this week after a first claim was uphedl
Legal,Regulation,Tax & Compliance
09/19/2024
Collas Crill advises on the acquisition of Brooks Macdonald Asset Management (International) Ltd
The acquisition is expected to complete by 31 March 2025, subject to regulatory approval and customary closing conditions.
09/19/2024
Why Switzerland remains a leading European jurisdiction for foreign companies
These new settlements demonstrate continued international confidence in Switzerland’s business environment—and this confidence is well-placed.
09/19/2024
The first cut is the steepest: the Fed, market expectations and the dollar
The Federal Reserve has made its first interest rate cut since the pandemic, reducing rates by 50 basis points (bps).
09/18/2024
Carey Olsen shortlisted for Offshore Firm of the Year at The Lawyer European Awards 2024
This shortlisting reinforces another successful year for the firm
09/17/2024
Mirabaud & Cie SA seriously violated financial market law
The appeal has now been dismissed by the Federal Supreme Court.
09/13/2024
Swiss Banks Charge Hefty Transfer Fees
For foreign securities, the cost has dropped from 120 francs to 95 francs over the same period.
09/13/2024
PIMCO European Central Bank Reaction: On a quarterly cutting journey
The September rate cut, the second this year after June, reaffirms the ECB’s projection of hitting the inflation target by the fourth quarter of 2025.
09/11/2024
IQ-EQ adds trust services in Cayman Islands
IQ-EQ has three client segments — fund and asset managers; private and institutional asset owners; and debt, capital markets and corporate.
09/11/2024
Two Ogier rising stars recognised as 2024 eprivateclient NextGen Leaders
The annual list by eprivateclient recognises, introduces, and promotes outstanding professionals and talent based in the UK and UK Crown Dependencies.
09/06/2024
UK tax changes could drive wealthy executives overseas, says CVC
Lucas, who has shares in CVC worth about $640 million according to LSEG data, said that he was not concerned about the prospect of staff moving due to any tax changes
09/05/2024
BBVA gets green light from U.K’s Prudential Regulation Authority to take indirect control of Banco Sabadell’s British unit TSB
The authorization is one of the conditions to which the purchase offer to Banco Sabadell shareholders is subject and a necessary step to complete it, since TSB would become part of BBVA.
08/28/2024
Former Barclays banker banned from top City job: Thomas Kalaris labelled 'dishonest' as he loses appeal
Saranac appealed, with a hearing held in July and yesterday the Upper Tribunal in London upheld the regulator’s decision to ban Kalaris.
08/23/2024
Deutsche Bank reaches settlements with a large share of the plaintiffs in Postbank takeover litigation matter
Among the plaintiffs who agreed to a settlement is also the largest individual plaintiff in these proceedings, representing about one third of all claims.
08/22/2024
IHT receipts rise again; great wealth transfer will ‘change everything’
The latest HMRC figures reveal IHT receipts collected by the Treasury surged to £2.8bn in the last quarter (April to July).
08/22/2024
TD has first loss in decades after hit from U.S. laundering probe
The results come a day after Toronto-Dominion said it anticipates paying a total of more than US$3 billion in penalties related to U.S. compliance lapses.
08/21/2024
Three indicted in money laundering case compromising Singapore’s AML status
The case involved the covert transfer of $S3bn in illicit funds, some from overseas gambling operations.
08/15/2024
Finma on stablecoins: “Same business, same risks, same rules”
Rather, the supervisory authority wants to show the industry how risks can be limited and problematic situations avoided.
08/15/2024
FCA scrutinises DFM feedback amid SDR extension rumours
The FCA has promised to set out next steps ‘shortly’ on talk that wealth managers will be given an extension to the December deadline.
08/15/2024
Anti-greenwashing: UK firms gearing up for new FCA rules and guidance
Moreover, wealth managers, planners and financial advisers must also ensure that, when engaging with clients, the sustainability-related claims they make are clear