Managers of Wealth

Russia Steps Up Hunt To Seize Foreign Assets of ‘Putin’s Banker’

Alfa Group hired to track and seize overseas wealth in the latest development in legal battle between the Kremlin and Sergei Pugachev.

No automatic redemptions in a masterfeeder structure

Update prepared by Simon Dickson (Partner, Cayman Islands) and Jaclyn Pascoe (Knowledge Management, Cayman Islands)

The Remote Trustee

Trust Governance Navigating the Global COVID-19 Pandemic

International community continues making progress against offshore tax evasion

The Common Reporting Standard requires countries and jurisdictions to exchange financial account information from non-residents obtained from their financial institutions automatically on an annual basis

Italian FA issues guidelines on players' expiring contracts

This followed FIFA’s adoption, in April 2020, of a document (“Covid-19 Football Regulatory Issues”) authorizing its member associations to extend the season beyond June 30, 2020.

Jersey Private Funds

The JFSC had previously applied a similar proportionate and light-touch approach to very private structures

IRS to Begin Hundreds of High-Net-Worth Examinations in July

These new examinations will be accompanied by a new IRS perspective as to how to effectively, and completely, examine high-net-worth individuals.

Chinese Jeweller Kingold Probed for Historic Fake Gold Bar Fraud

16 billion yuan ($2.3 billion) of outstanding loans are being backed by 83 tons of allegedly fake gold bars.

The effect of the 5th Anti-Money Laundering Directive on the luxury sector

The European Commission (EC) has noted that a globally interconnected financial system has contributed to the ability of criminals, money launderers and terrorists to hide and move funds around the world.

What the 'no-fault' divorce bill entails

The Divorce, Dissolution and Separation Bill (commonly referred as the no-fault divorce bill) has passed its third reading in the House of Commons and will next be considered by the House of Lords.

LIBOR - When the going gets tough, the tough legacy contracts get going

These considerations provide useful guidance to market participants in assessing the nature of their exposure to tough legacy contracts

Covid-19: FCA updates submission deadlines for regulatory returns

Given the impact of coronavirus (Covid-19), we have introduced some temporary measures for firms submitting regulatory returns.

China unveils cross-border wealth management scheme with Hong Kong, Macau

The announcement comes as China seeks to impose a new national security law on Hong Kong, and only two days before the 23rd anniversary of the territory’s return to Chinese rule.

Offshore Business Update: Bermuda

Bermuda has begun to gradually re-open the Island.

Switzerland to become a leading location for sustainable financial services

In view also of the global challenges, further efforts must be made to safeguard and further expand the interests and competitiveness of the Swiss financial centre internationally.

Ogier advises Brooks Macdonald on acquisition of Channel Islands wealth management and funds business of Lloyds Bank International

The cross-border Ogier team was led by Jersey-based partners Matthew Shaxson and Niamh Lalor

Legal,Regulation,Tax & Compliance