Managers of Wealth

Fines on Swiss firms abroad will be tax deductible from 2022

Illegal payments such as bribes, kickbacks and commissions paid to individuals will not be tax deductible and treated on par with criminal law.

Who can benefit from Malta’s Fiscal Units which consolidate income tax?

The new legislation allows for this by giving companies the right to form Fiscal Units.

Information Notice has brought clarity to industry's questions over investment into cannabis assets by Guernsey structures

The position taken by the States of Guernsey in relation to cannabis investment follows the approval by the Assembly in June 2019 that businesses can grow and process cannabis in Guernsey for medicinal uses.

Are you preparing your first annual compliance statement?

It is time for trustees to send a first notification to the Competition and Markets Authority that they are complying with its investment consultancy and fiduciary management services order

FCA commences High Court proceedings over unauthorised collective investment schemes

Mr Forster has given undertakings to the Court which have the effect of freezing his assets worldwide, pending judgment.

International automatic exchange of information in tax matters: Federal Council brings Act and Ordinance into force

Parliament had already approved the amendments to the AEIOA on 19 June 2020.

FINMA publishes 2020 Risk Monitor

The year 2020 was clearly marked by the corona pandemic, which had a noticeable impact on the risk landscape in the financial industry.

FCA prohibitions highlight increasing focus on non-financial misconduct

These Final Notices confirm a trend we identified in our recent Top 10 Global Trends Regarding Investigations Involving Individuals: an increasing focus on non-financial misconduct.

Film star’s widow faces £21m fine over alleged Spain tax fraud

‘It’s an important reminder that tax problems don’t die with you’

Financial Regulation Update

FCA Primary Market Bulletin No 31

A shock is in store for international divorcing couples

Explain why this is the case

HNWs increasingly making £1m+ charitable gifts in Wills

There is currently an estimated £10.1 billion funding shortfall within the charity sector due to Covid-19.

FBI Arrests Head of Wealth Management Firm for Fraud

Terrence Chalk, aka Dr. Cash, allegedly hid his criminal past to defraud investors out of more than $4 million.

Raiffeisen is turning its back on the bankers association

As part of the development of the group strategy, Raiffeisen therefore critically examined its role in helping to shape the political framework.

The export of artworks from Italy is made easier at last

Even though Italy still has one of the most stringent laws on the protection of national cultural heritage, such reform pushed it one step further towards the global art market.

Julius Baer reaches agreement to resolve FIFA matter in the US

Julius Baer has reached an agreement in principle with the U.S. Department of Justice to settle an investigation in the FIFA matter.

Raiffeisen to exit Swiss bankers association

The bank said that it wants to strengthen its commitment to Swiss private clients and small and medium enterprises.

The Covid-19 Balancing Act for Regulated Businesses in Jersey and Guernsey Covid-19 is here to stay, and with it a change in the way that we work.

Whether or not this has fully sunk in, the Channel Islands regulators and international standards setters have certainly grasped it.

Almost half of all FCA scam warnings are impersonations of real brands, Quilter finds

There is no legally enforceable system for compelling search engines and social media platforms to remove fake websites and fake adverts which use the ‘clone’ of a financial services firm.

Spain to increase income and wealth tax

‘This will push UHNW retirees and investors to look at other more favourable jurisdictions’

Legal,Regulation,Tax & Compliance