Managers of Wealth

HMRC to raise standard of conduct among tax advisers

The government has confirmed that it will implement all but one of the recommendations made by Sir Amyas Morse in his review of the loan charge rules.

Governors and Heads of Supervision announce deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19

The implementation date of the Basel III standards finalised in December 2017 has been deferred by one year to 1 January 2023.

HMRC Official Rate of Interest (ORI) reduced

ORI to reduce from 2.5% to 2.25% from 6 April 2020

Noah Singapore granted Capital Markets Services licence

The firm states that it is actively expanding its global footprint and has established a strong presence with offices in Hong Kong, Jersey, New York, Silicon Valley, Vancouver, Melbourne, and now Singapore.

Putin’s Tax Hikes Compound Pandemic Angst for Wealth Managers

Some advisers say buy now, while others warn of double bottom

Coronavirus: Stay Tuned – Hong Kong to resurrect Chapter 11–style corporate rescue bill

The major drawback is the lack of a statutory moratorium of legal claims against the company, and any creditor not contractually bound could petition to wind up the company and derail the restructuring efforts.

SIX Group’s Offer To Acquire BME

The Linklaters team was led by Victor Manchado

Coronavirus: FCA summons council of war

With comparisons moving beyond the 2008 financial crisis to the 1930s, Woolard has been at the heart of efforts by policymakers to quell the economic impact of the virus, which has caused tens of thousands of deaths around the world.

The marketing of EU funds into the UK Post-Brexit: The Death Knell for the UK funds industry?

If the UK Government insists on allowing EU funds to continue to be marketed without reciprocal passporting, this could be the beginning of a gradual demise for the UK funds industry.

Sanlam freezes fees for large firms as hike goes ahead

The adviser also questioned how Sanlam intended to work with its ARs who will struggle financially in the next few months as this has not yet been communicated.

FCA tells advisers to work from home

This statement applies to all FCA-regulated firms across the UK, including in Scotland, Wales and Northern Ireland.

Juan Carlos and the Account at Mirabaud

The bank thought this to be true for four years, until Juan Carlos took $65 million and allegedly sent it to Corinna Larsen, a Monaco-based businesswoman who is said to be either a close friend or ex-lover of Juan Carlos.

Italy Wants Account Details of Credit Suisse Clients

The Italians are looking for information on accounts of Italian citizens at Credit Suisse, which they suspect of having failed to fulfill their tax obligations in their home country.

RollOnFriday calls for hiatus on pay and job cuts as Fieldfisher and more take savage measures

The board of Knights is taking a 30% pay cut, although the nobility of their sacrifice is debatable given that an interim dividend of 1.1p per share was declared last week which showered them all in cash.

Coronavirus: Federal Council approves deactivation of countercyclical capital buffer

This measure will give banks more flexibility in their lending activities

The impact of coronavirus on arbitration: the options

Virtual hearings will not be a panacea in every case, however they may be a viable option for parties who might otherwise be faced with an extended period of financial uncertainty.

Cayman Islands: Record-Keeping Obligations of Trustees

The Amendment and the Regulations apply to trustees of Cayman Islands trusts wherever the trustee is located.

Wealthy non-doms saved from Covid-19 tax traps as HMRC relaxes its rules

Non-doms can now stay in Britain longer than normal before tax bills are triggered

Law firm revenues set for 'single-digit drop'?

Vahid added that firms “all expect collections to slow down, period”.

Legal,Regulation,Tax & Compliance