Managers of Wealth

Deutsche Börse and Swisscom Settled Securities Transactions via Tokens for Swiss Banks

In the following securities transactions, the banks acted as counterparties and exchanged securities tokens against cash tokens using DLT.

Swiss aim to launch NSFR liquidity rules for banks by mid-2021

The NSFR complements this and aims to ensure stable funding over the long term.

DBS just signed up to a responsible financing framework—does this mean it has quit coal?

The Temasek-linked bank joins a list of 101 financial institutions from 38 countries that have signed up to the EPs.

U.S. Arrests Money-Laundering Expert For Laundering Money

Prof. Bruce Bagley Participated in the International Laundering of over $2 Million Derived from Venezuelan Bribery and Corruption

FCA fines Henderson £1.9m for fund failings

Retail investors were charged up to 1.5% for Henderson funds that ditched active management

EU Mandatory Reporting of “Tax Aggressive” Cross-Border Arrangements – DAC6

Any cross-border arrangements that are seen as “potentially tax aggressive” needs to be reported to the tax authorities.

AUSTRAC Commences Legal Action Against Westpac for AML Breaches

These AML/CTF laws are in place to protect Australia’s financial system

The Launch of the Legal Statement on the Status of Cryptoassets and Smart Contracts by Sir Geoffrey Vos, Chancellor of the High Court

There is an endless spectrum of types of cryptoasset and cryptocurrencies, many of which already are or certainly will be designed for use as wholesale and retail payment mechanisms.

JPMAM and UBS launch genetic therapies fund

Genetic therapies could develop into a profoundly disruptive technology for the pharmaceutical and biotechnology industry.

Bankrupt Ex-Billionaire Sam Wyly Settles A $1.3 Billion Tax Bill—For Just $500 Million

Wyly wants to be known for building the arts-and-crafts chain Michael’s and several other companies, which first catapulted him onto Forbes’ list of the richest Americans in 2000, with a net worth of $750 million.

Walkers Advises On $1 Billion Facility For Rusal

Walkers' specialist Banking & Finance team in Jersey continues to develop and grow – Jon and fellow senior counsel Tristan Maultby both joined the firm this year from competitor firms.

UBS fined $8.2 million by Singapore for misconduct by advisers

The enforcement action followed UBS’ reporting of the misconduct to MAS, and MAS’ subsequent investigations.

Investment Association updates Principles of Remuneration for 2020

The updated principles recommend that remuneration committees be given discretion to cap vesting at a specific monetary value.

Switzerland: Tax ordinances, implementing tax reform measures for 2020

The Federal Council this week approved three ordinances that will be effective 1 January 2020.

Elizabeth Warren takes risk with ad blasting billionaires

After he speaks, a note appears on screen -- "charged with insider trading."

Priorities of the new European Commission for Sustainability and green Finance by Valdis Dombrovskis

There are significant broader issues to tackle as well, both in Europe and globally.

BEPS Action 13: Latest country implementation update

Updated weekly, this summary report in table format offers a snapshot of implementation of country-by-country reporting and Master file / Local file documentation requirements around the world.

Global Forum on tax transparency reveals compliance ratings for further eight jurisdictions

These jurisdictions have demonstrated progress on the deficiencies identified in the first round of reviews, including improving access to information, developing broader EOI agreement networks, monitoring the handling of increasing incoming EOI requests.

Global Debt Approaches $255 Trillion As ”Plan A Has Failed”

In fact, the global debt will reach around $255 trillion by the end of 2019.

Competition Authority probes FNZ / GBST merger

This date is the current statutory deadline by when the decision will be announced.

Legal,Regulation,Tax & Compliance