Managers of Wealth

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

Freshfields lawyer sent list of concerns over her conduct in UBS rape case

UK’s Solicitors Regulation Authority reviewing complaint that Caroline Stroud did not make bank relationship clear

CMTA tests decentralised trading with five banks including Vontobel

SEBA Bank, Sygnum Bank, Arab Bank (Switzerland) and Hypothekarbank Lenzburg also took part in the test.

Ex-UBP Banker Accused of $100 Million Theft

The banker’s clients accuse him of stealing as much as 100 million Swiss francs ($109).

NatWest to 'reconfigure' Coutts' HQ as it plans 800 job cuts

The banking group is targeting 550 full-time redundancies across branches and its top-earner service, but says none will be compulsory.

Fit and Proper - How to Manage Employee Breaches if You Are a Regulated Business

At all times, the employer will need to weigh up the competing requirements of the regulatory and employment regimes in Jersey.

UCITS can no longer invest in loans

This new position is the result of a detailed eligibility assessment of loans by the CSSF, and reflects discussions held at ESMA level as well as the regulatory practices of other EU Member States.

Third supervisory organisation authorised by Finma

Two other supervisory organisations were granted licences in July.

Surcharge sees foreign buyers move on London stamp duty hotspots

For foreign buyers making their move now, this means an additional £24,006 saved in Stamp Duty Land Tax in addition to the sum already wiped off by the stamp duty holiday.

Over 100 advice firms currently under investigation

UK regulator says that cases are not ‘solely confined to concerns about potential misconduct’

Withers lawyers prominent in American Bar Association RPTE leadership appointments

We are proud to announce that several of our Withers attorneys were appointed to leadership roles for the upcoming bar year.

Mauritius Issues Regulations Under the Mauritius Insolvency Act 2009

On 21 July 2020, the Minister of Finance, Economic Planning and Development issued the Insolvency (Extension of Time During COVID-19 Period) Regulations 2020 (Extension of Time Regulations) under the Insolvency Act 2009 (Insolvency Act) (GN 163 of 2020).

Legal,Regulation,Tax & Compliance