10/09/2020
Switzerland shared bank account data with 66 countries in 2020
This is part of an annual exercise since 2017 when Switzerland decided to implement a global agreement aimed at preventing tax evasion.
Legal,Regulation,Tax & Compliance
10/09/2020
The problem with a wealth tax
The latter poll had suggested a higher threshold – £750,000 excluding main homes and pensions, which might go some way to explaining its higher popularity.
10/08/2020
UK woman tried to fly to Dubai with $2.44 million in cash in five suitcases
Officers searched her suitcases and found the huge cash haul, the largest detection at the UK border so far in 2020.
10/08/2020
Foreign wealth management giants poised to tap China’s US$3.7 trillion market as new rules promise to cut risk
Europe’s biggest asset manager Amundi launched its majority-owned wealth management venture in Shanghai recently, becoming the first foreign company to do so
10/08/2020
Orwellian or All's Well? The UK tax authority's new powers and family offices
HM Revenue & Customs’ powers to obtain information from financial institutions are set to increase, with the requirement for taxpayer or tribunal approval to be removed. Although not yet in force, the legislation is at an advanced stage and will
10/08/2020
Carey Olsen retains best offshore law firm title
Carey Olsen has one of the largest trusts and private wealth teams in the offshore world with 50 partners and associates providing advice on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey and Jersey to local and internationa
10/07/2020
Weekly Tax Brief - 6 October 2020
There is a loophole where the regulations do not apply to employees who are contractually entitled to a longer period of notice than the law requires.
10/07/2020
Unexplained Wealth Orders: Suspected money launderer gives up £10m of property
Around £10m of property has been surrendered in a major victory against some of northern England's most dangerous criminals.
10/07/2020
Dubai's top court dismisses tycoon's $115m damages claim for superyacht
The court ruled that the challenge filed by Russian tycoon Farkhad Akhmedov on the judgements pronounced by two lower courts shall be deemed "groundless".
10/07/2020
EBRD Head sets out plan for resilient, “majority green” future
Under the proposed new strategy, on which shareholders will decide today, the EBRD will accelerate the transition to a low-carbon economy.
10/07/2020
Carey Olsen advises Nordic Capital on €6.1 billion fund
Working alongside international counsel Kirkland & Ellis
10/07/2020
Carey Olsen advises Capvis on acquisition of leading CRM provider
The Carey Olsen team was led by partner Daniel O'Connor with assistance from senior associate Arindam Madhuryya and associate Jordan Zubeidi.
10/06/2020
Lugano bank ‘seriously breached anti-money laundering regulations’
The breach is in connection with the handling of Venezuelan client relationships.
10/06/2020
New Swiss Laws Provide Solid Ground For Blockchain And Crypto
In short, it mentions every legal requirement for running a cryptocurrency exchange.
10/06/2020
HSBC and UBS: Still more dirty deals by big banks
The bank is no stranger to such allegations, having squandered its reputation in a string of lawsuits brought against it for allegedly laundering $881 million for Mexican drug cartels.
10/06/2020
Lugano bank ‘seriously breached anti-money laundering regulations’
The breach is in connection with the handling of Venezuelan client relationships.
10/06/2020
EU list of non-cooperative jurisdictions for tax purposes: Anguilla and Barbados added, Cayman Islands and Oman removed
The EU list of non-cooperative jurisdictions for tax purposes was established in December 2017.
10/06/2020
Walkers Acts on Delta Airline's US$6 Billion Loyalty Programme Financing
The Delta deal follows in the footsteps of a the world's first financing transaction utilising a US airline's loyalty program, on which Walkers also acted as Goldman's Cayman counsel.
10/06/2020
FCA Bans the Sale of Crypto-Derivatives to Retail Consumer
These features mean retail consumers might suffer harm from sudden and unexpected losses if they invest in these products.
10/05/2020
JFSC warns investors to be cautious in times of crisis
Many islanders won’t consider themselves investors but anyone who has a bit of money put aside and needing to make a decision about what to do with it is an investor.