Managers of Wealth

The Key Issues Weighing on the City of London After Brexit Deal

The two sides have said they will look to reach a Memorandum of Understanding around regulatory cooperation by March.

Chinese Banking and Insurance Regulator Releases New Guidelines for the Sales of Wealth Management Solutions by Local Banks’ Subsidiaries

According to local sources, the Regulatory Commission is seeking public feedback or opinion, and aims to protect the rights and interests of Chinese investors while promoting the healthy development of the nation’s wealth management sector.

How will Brexit impact sanctions and money laundering rules in the UK from 2021?

This updated sanction list will comprise of the designations which the UK has chosen to carry over from the EU regimes, as well as those that the UK is obliged to implement under UN regimes.

Global demand for second passports "skyrockets" amid pandemic

Many passports that were previously strong have also fallen from grace, due to their leaders' management of the coronavirus pandemic.

UK and EU strike an agreement on their future relationship

Although procedures will be put under unprecedented time pressures, our expectation is that the agreement should be able to be ratified by both the EU and UK sides as required to come into force in time for the deadline.

UBS Dinged in YES Options Case, Complaints Remain on Brokers’ Records

The strategy, managed by a team of New York City advisors who shared production credits with other UBS brokers who referred clients to them, went awry in volatile markets, the investors have claimed.

Luxembourg Update: Important Clarification for RAIFs for RR and RC Appointments

This update is a FAQ regarding persons involved in AML / CFT for RAIFs.

UBS Board Gauges Fallout of ING Laundering Probe on New CEO

Board members have gone as far as informally discussing who could take on the CEO role if the situation with Hamers became untenable.

Rich Americans Who Fear Higher Taxes Hurry to Move Money Now

Some advisers say they’re busier than ever in the last weeks of 2020,

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

The information notice itself does not represent any official legislation or statute but it does provide those in Guernsey's finance sector with a clear direction insofar as opening the gateway to wider cannabis investment, not just where it is culti

Luxembourg Update: Filing Extensions for 2019 and 2020 Tax Returns

On 21 December 2020, the Luxembourg Finance Minister announced an extension to the filing deadlines for 2019 and 2020 Luxembourg tax returns.

How to limit the risks of serving EM clients: a legal expert's solution

Asset managers dealing with clients directly in emerging markets face an array of legal, compliance, and regulatory risks.

New Covid Travel restrictions affecting the UK

UK entry quarantine is still in force for 10 days on arrivals from countries not on the travel corridor list, which may be reduced to 5 days if they do the Test and Release process.

'McMafia' banker's wife will have £22m seized unless she reveals source of wealth

'McMafia' banker's wife will have £22m seized unless she reveals source of wealth Supreme court upholds order against Zamira Hajiyeva, who spent £1m a year at Harrods

'Guernsey must continue to be one of the good guys'

Unpicking details of these strands, he says: ‘We should be seen as one of the world's serious wealth management centres.

Transfer pricing implications of the COVID-19 pandemic: New OECD guidance for tax administrations and business

The pandemic has also led to the unprecedented growth of government assistance programmes, leading to questions around the factors that should be evaluated to determine whether receiving government assistance may affect transfer prices.

FCA introduces rule to enhance climate-related disclosures

The rule will apply for accounting periods beginning on or after 1 January 2021

FCA fines Charles Schwab £9m for safeguarding failures

Charles Schwab UK failed to get the correct permissions from the FCA; then failed to be open with us and, finally, failed to put in place the necessary safeguards to ensure, if required, there could be an orderly return of client assets.

UK tax evasion prosecutions fall by half in 5 years

Critics question HMRC’s strategy considering the billions lost to fraud each year

Ledger users threaten legal action after hacker dumps personal data

A cybersecurity expert claimed the affected users would be targeted online and in person now that their personal information had been made public.

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