08/31/2020
Finma adds investment platforms to warning list
These are the latest companies which the regulator believes have supplied insufficient or false information.
Legal,Regulation,Tax & Compliance
08/30/2020
AIFMD – Room for improvement
Two annexes to the letter contain the detail of the suggestions being put forward by ESMA.
08/28/2020
Key Issues in Managing Equity Awards in M&A Transactions
This analysis will help frame the potential treatment of the awards in the transaction.
08/28/2020
FSCS hits £20m milestone on LCF payouts
The FSCS has increased the size of the team reviewing LCF claims by almost 80 per cent as it pushes to complete the process by December, following delays this summer.
08/28/2020
GFSC review shows Guernsey firms’ positive record on source of funds and source of wealth
Babbé Senior Associate Elena Gogh discusses a positive report on anti-money laundering practices in Guernsey by the Guernsey Financial Services Commission.
08/27/2020
FCA open-ended funds review survey
During the coronavirus crisis, consumers may find themselves needing access to their savings in accounts with restrictions on access.
08/27/2020
Bankers, lawyers on board for IOOF’s tilt at MLC Wealth
Investment bank Citi and law firm Allen & Overy are helping IOOF with its bid for National Australia Bank’s MLC Wealth.
08/27/2020
Further review of IHT by the APPG
The APPG paper proposes comparatively radical reforms to a system that it describes as having been criticised as complex, ineffective, riddled with anomalies, distortionary and unfair, unpopular and ripe for reform.
08/27/2020
Migrating A Company Out Of Guernsey
Just like a person, a company can change its nationality.
08/27/2020
Mourant contributes to Chambers Global Private Wealth Guide
Our International Trusts & Private Client practice brings together contentious and non-contentious work in a genuine "one-firm" approach
08/26/2020
Ireland Update – Use of Electronic Signatures on Regulatory Documents and Forms
The Central Bank advised that it reserves the right to request a "wet ink" signature where the Central Bank deems it appropriate.
08/26/2020
Federal Council adopts dispatches on new double taxation agreement with Bahrain and amendments to DTA with Kuwait
The new DTA with Bahrain in the area of taxes on income and capital improves matters for cross-border investments.
08/26/2020
Bank employees association asks CS to freeze layoffs
In a statement, ASEB said the bank should pause layoffs at least until the end of the year.
08/26/2020
Switzerland looks to attract Alternative Investment Funds
It is expected that the bill will be presented to Switzerland’s parliament for discussion later this year and will not come into force before 2022.
08/26/2020
Update on the Cayman Islands' economic substance framework
This detailed guidance was welcomed by the industry as it has given greater certainty to those businesses whose operations were potentially in scope.
08/26/2020
Chyknell Hall: Sleepy hamlet wakes to royal scandal
Chyknell Hall near Bridgnorth has taken centre stage in the drama thanks to its prominent yet elusive resident
08/26/2020
Billionaire’s Malta assets under worldwide freezing order after Turkey coup arrest
Shipping mogul Mübariz Mansimov, arrested over Turkey coup and alleged Gulen links, has shipping empire based in tax-friendly Malta
08/25/2020
Ex-Chelsea manager fights to recoup €30m lost to ‘scam’
Italian financier claimed his investment scheme was backed by HSBC
08/25/2020
Belgian Tax Probe vs Credit Suisse Advances
Last year, HSBC's Swiss arm paid 300 million euros ($354 million) to settle a similar probe in Belgium.
08/25/2020
Offshore structure with online operations in Hong Kong in the digital age – walking a thin line?
Typically, the offshore entity carries on business by way of a fully automated system, while its Hong Kong affiliate provides technical support, such as upkeep and adjustment of its proprietary software, and is remunerated on a cost-plus basis.