Managers of Wealth

Global investment firm acquires the Acrotec Group

Acrotec recently expanded its position as a trusted MedTech contract manufacturer leveraging its high-precision engineering capabilities to service a diversified base of global customers.

Malta luxury cards provider fined €373,000 for money laundering breaches

Ultra-rich spenders’ credit card company that recruited former Labour minister Chris Cardona in litany of money laundering breaches

Covid: Argentina passes tax on wealthy to pay for virus measures

Argentina has recorded close to 1.5 million infections and almost 40,000 deaths from the coronavirus.

HMRC under fire for 11 ‘serious’ personal data breaches affecting over 20,000 people

The incidents, disclosed in HMRC’s newly published annual report, are estimated to have affected 23,173 people in total and have been analysed by litigation practice Griffin Law.

Entry into force of the amendment protocols of six DTAs

Most of the provisions will apply from 1 January 2021, although some provisions are applicable from the date of entry into force.

Charges expected after Pilatus money-laundering probe

The bank’s operations were shut down in 2018

Spain Ex-king Submits Papers To Sort Out Tax Affairs: Report

They said investigators were looking into funds deposited in at several Spanish bank accounts held by a Mexican business and a Spanish Air Force official, and whether they had been accessed by the former monarch.

Swiss-UK deal to grant consultants privileged mutual access

Under the terms of the deal, British service providers will have access to the Swiss workplace for up to 90 days at a time, the government said on Friday.

Global Fintech Regulatory Rapid Assessment Study due to Covid-19

This global study seeks to assess how central banks and other financial regulators are responding to the challenges of Covid-19 in regulating and supervising FinTech activities and other forms of Digital Financial Services (DFS).

ISDA using Digital Asset clearing and DLT technical advances and international legal issues

The ISDA functions to promote safer and more efficient derivatives markets by developing standards like the ISDA Master Agreement and a wide range of related documentation.

OECD tax revenues fall slightly before the COVID-19 pandemic, but countries face much larger decreases ahead, particularly from consumption taxes

The COVID-19 crisis is likely to significantly hit tax revenues in 2020, particularly from consumption taxes, due to the sharp fall in economic activity and consumption following lockdowns and the forced closure of many businesses.

Financial Regulation Update

The FCA will supplement the evidence from its review with feedback to its Call for Input (CfI) on consumer investments

Two Steps Forward, One Step Back: The Limits of New Standards on Assessing WMD Financing Risk

At its recently concluded October plenary, the FATF adopted language into its standards that now requires countries – as well as private sector actors – to understand and assess their PF risk, and tailor their counter efforts accordingly.

Federal Council decides on further development of financial market policy: leading worldwide, rooted in Switzerland

Along the three key thrusts "innovative", "interconnected" and "sustainable", the Federal Council has defined concrete areas of action for a future-proof Swiss financial centre.

Call for probe into 'missing' £50bn of UK cash

The issue was first identified by the National Audit Office (NAO), which highlighted it in September.

Asset management industry ‘not doing a good job’ on diversity, says SEC chief

Outgoing chairman Jay Clayton calls for change to share economic benefits more equally

Beneficial Ownership Transparency: a Spotlight on International Beneficial Ownership Registration

The recommendations made to the G20 reflect a growing trend at an international level to enhance transparency in beneficial ownership.

Quilter latest to scrap VAT from managed portfolio service

Based on existing guidance and external advice, Quilter said it was now treating its MPS as VAT exempt.

Ardan International implements Financial Risk Solutions (FRS) tech to grow wealth management business

Ardan International, an Isle of Man-headquartered wealth management provider, has adopted Financial Risk Solutions (FRS) technology for its newly launched tier-one wealth management platform.

From nuisance to enabler: why compliance can be your best weapon

Despite the ongoing headline litany of data breaches and security compromises, there’s still a misconception that compliance is no more than a necessary evil.

Legal,Regulation,Tax & Compliance