08/11/2020
Over 100 advice firms currently under investigation
UK regulator says that cases are not ‘solely confined to concerns about potential misconduct’
Legal,Regulation,Tax & Compliance
08/11/2020
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.
08/11/2020
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).
08/11/2020
Dirty money law to give State power to seize luxury assets without criminal conviction
Law will empower Asset Recovery Bureau to confiscate assets acquired through criminal means without criminal conviction
08/11/2020
Police recover £3m after wealth manager boss’ Ponzi-scheme
The case was referred to the police by the FCA after the regulator became suspicious of HBFS’ bank accounts.
08/11/2020
Business as usual for Covid-free Guernsey
We frequently state that Guernsey is a great place to live and to do business.
08/11/2020
Liechtenstein’s Union Bank decides to liquidate
Media reports have linked the bank to criminal activity.
08/10/2020
Barclays probed by privacy watchdog over reports of spying on staff
The UK’s data and privacy watchdog said a formal probe is ongoing, but could not say when it may conclude.
08/10/2020
HMRC investigating 246 players and 55 agents over tax avoidance with image rights
World class footballers and top agents are being probed by HMRC regarding image rights deals used to avoid tax, and the number being investigated has soared since 2019
08/10/2020
Hong Kong Haven Status Undermined by Swiss Shift
The precious metal recently rallied past $2,000 per ounce on pandemic and inflation fears and is expected to keep rising.
08/10/2020
Carey Olsen supports Tembo Capital on latest mining fund launch
These opportunities may include exploration ventures, near term production ventures, royalties, operating mines, infrastructure of metals and mining projects, and services associated with the metals and mining sector.
08/10/2020
Wolfsberg Group Issues Guidance on Source-of-Wealth, Source-of-Funds Checks
In line with regulatory expectations, FIs should adopt a risk based approach with respect to the amount of information collected, and corroboration required, for SoW/SoF purposes.
08/07/2020
Crypto broker plans IPO and banking licence
Bitcoin Suisse would first have a security token offering, where shares from the company’s own holdings would be brought onto the blockchain.
08/07/2020
The Bahamas emerges as a pandemic safe jurisdiction for family offices
Financial regulators in the Bahamas have also set up a fast track licensing operation for FinTech companies with the goal of being able to provide comprehensive financial services support.
08/07/2020
Goldman Sachs cuts quarterly earnings citing legal provisions
The bank said it set aside $2.96 billion in the second quarter for legal and regulatory costs, up from the $945-million Goldman said it set aside on July 15 during its second quarter earnings announcement.
08/06/2020
Sustainability reporting guidance 2020 to 2021
Guidance for government bodies on sustainability reporting.
08/06/2020
Kuits retains top tier Chambers High Net Worth ranking
Independent law firm Kuits remains in Band 1 alongside national practices Addleshaw Goddard and Mills & Reeve.
08/05/2020
When will Europe crack down on those aiding and abetting financial crimes?
At the heart of the dispute currently cleaving Leo Trust, one piece of the web of Swiss financial services companies which optimize super high-net-worth clients’ assets for tax purposes, in two is a $1.35 billion loan contract.
08/05/2020
Swiss media report fingers Martinellis in bribery expose
The judge in Bellinzona, however, ruled that it was up to the judge in Spain to decide whether the documents show a relevant criminal connection.
08/05/2020
Swiss Authorities Are Investigating Embattled Art Dealer Yves Bouvier for Evading as Much as $360 Million in Taxes
Bouvier argues that he has lived in Singapore for the past decade and therefore is not subject to Swiss tax.