08/13/2020
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
08/13/2020
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
08/13/2020
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.
08/13/2020
Ex-UBP Banker Accused of $100 Million Theft
The banker’s clients accuse him of stealing as much as 100 million Swiss francs ($109).
08/13/2020
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.
08/12/2020
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.
08/12/2020
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.
08/12/2020
Third supervisory organisation authorised by Finma
Two other supervisory organisations were granted licences in July.
08/11/2020
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.
08/11/2020
Over 100 advice firms currently under investigation
UK regulator says that cases are not ‘solely confined to concerns about potential misconduct’
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.