Managers of Wealth

Ruvercap: Wrestling and silence in the “biggest financial fraud” in Switzerland

The company bought tens of millions of francs in receivables and loans for Ruvercap, which in turn were financed by Ruvercap investors.

HMRC collects £120m through ‘plea bargain’ tax evader deals

Law firm expects investigations to rise to pay for cost of coronavirus-related economic assistance

Partnerships to Fight Financial Crime Gain Momentum

A new survey shows the partnerships have produced some promising early results, and compliance officers say it could lead to a shift away from the current “tick-box” approach to anti-money-laundering regulation.

‘Prove where you got your wealth,’ India tells alleged tax dodger

A landmark ruling against the beneficiary of an undeclared Swiss bank account could be a breakthrough moment for authorities hunting hidden wealth.

Federal Council adopts dispatch on amending Collective Investment Schemes Act

This new fund category is aimed at ensuring that, in the future, more collective investment schemes are set up in Switzerland and more of the value chain remains in Switzerland.

Tax evasion: 25% increase in amount collected in UK deals

HMRC receives information automatically under the Common Reporting Standard about financial accounts held by UK residents in more than 100 jurisdictions.

Van Lanschot Kempen to acquire €2bn banking group

This transaction will help us grow our client assets by €1.9 billion.

SMAs – a Phoenix from the Flames of Covid-19?

Fund finance options are available to SMAs as they would be to more traditional “funds”, and in the last few years there has been an increased appetite from banks and credit funds in the market to provide SMA financing.

Crispin Odey readies emergency plan as assault trial looms

It would involve shutting the flagship European fund he manages and returning the money to investors.

AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year

Repercussions from high profile scandals and compliance failings hit US, Israeli, Nordic and German banks hardest

‘Do not glorify the recovery’, Zurich IAM warns

‘While the financial markets make us believe that we are back to normalcy, it is important not to glorify the observed recovery,' the outlook read.

‘Interest rates have become less important,’ what SGKB’s CIO wants from the SNB

Thomas Stucki said that extraordinary measures in response to the coronavirus crisis were correct, but that the current situation could not be permanent.

World's biggest wealth fund's embarrassing recruitment debacle

The government has now acknowledged the time might be ripe to consider some changes to the whole process.

Envestnet, Inc. to Offer $450 Million of Convertible Notes

The Notes will be general unsecured obligations, subordinated in right of payment to the Company’s obligations under its revolving credit facility.

Cum-ex scandal: Six German bankers charged with €160 million fraud

Proceedings against another employee of the bank were dropped for health reasons, the prosecutor confirms.

First conviction over fake Bordeaux wine in China

Bordeaux region is located in the southwest of France and Bordeaux Wine, produced there, takes its name from that area.

UK creative industries an “economic success story”

UK film and television is an international success story, employing over 125,000 full time earners.

Global Anti-Money-Laundering Fine Amounts Released

For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.

Private bank enters voluntary liquidation

Process will go ahead despite ‘intensive negotiations’ taking place with ‘interested parties’

What a senate investigation means for the art market

The Report noted that although private dealers and auction houses are not legally required to implement AML policies, they must comply—like everyone else

Legal,Regulation,Tax & Compliance