10/28/2019
Gold standard for Chinese corruption
A haul of 13.5 tonnes from the basement of just one official’s home is shining proof.
Legal,Regulation,Tax & Compliance
10/28/2019
Nordea Managers of $350 Billion Shielded From Deep Job Cuts
The head of Nordea’s wealth unit, Snorre Storset, says a plan to cut jobs across the organization won’t affect portfolio managers in his unit.
10/27/2019
FCA new webpage on Cryptoassets: AML/CTF regime
The MLRs apply to businesses in a range of sectors at risk of facilitating money laundering or terrorist financing
10/25/2019
Tidjane Thiam: The "WEF in the desert" is calling
This year, the second-largest Swiss bank is prominently represented there.
10/25/2019
Glarner Kantonalbank draws line under litigation with ex-bosses
The bank is now able to credit around CHF 6.5 million to its annual result, as it can release provisions made for the proceedings.
10/25/2019
Singapore sees cash starting to flow from turbulent Hong Kong
The extra cash is welcome news for Singapore, whose economy is slowly slipping towards a recession as speculation grows that Prime Minister Lee Hsien Loong will announce an election well before one is due in April 2021.
10/25/2019
FATF guidance on Beneficial Ownership for Legal Persons
The report also makes recommendations on how to ensure authorities can access information on beneficial ownership of overseas entities.
10/25/2019
Half of the wealth in Cyprus and Malta kept offshore: EU report
Offshore holdings, although in many cases completely legal, could help taxpayers hide taxable money and cut their bills if they stash their savings in low-tax jurisdictions.
10/25/2019
Walkers Grows Largest Offshore Regulatory Practice Group
The group is strategically positioned across the Americas, Europe and Asia to ensure the most comprehensive and global coverage for clients.
10/24/2019
Traders at Ermotti’s UniCredit Unit Recount Cum-Ex Free-for-All
The investigation into a practice that German authorities now say is a tax heist has riveted financial circles, ensnared dozens of banks and exposed a sprawling network of financiers, short-sellers and middlemen.
10/24/2019
Meeting the Regulatory and Compliance Challenges that Lie Ahead
Staying ahead of the game - A firm-wide commitment to compliance Guests agreed that it is essential to take a proactive approach to regulation and compliance, taking a bank or firm-wide approach
10/24/2019
What Are The Key Trends Shaping The Fund Finance Industry In Asia?
The event aims to bring together investors, fund managers, bankers and lawyers for education and networking within the fund finance market.
10/24/2019
US Poised To Crack Down On Anonymous Shell Companies
The United States is one step closer to putting an end to anonymous shell companies with the Corporate Transparency Act passing the House of Representatives.
10/24/2019
Private wealth specialist speaks on economic substance
While the economic substance rules introduced across jurisdictions are largely similar, there are nuances from one jurisdiction to the next.
10/23/2019
UBS Gets Boost From Wealthy Asians as Investment Bank Trails
Firm warns lower interest rates will hit lending income
10/23/2019
Swiss file first charges in Brazilian ‘car wash’ corruption probe
Swiss prosecutors said they had submitted the case to the Federal Criminal Court under an accelerated proceeding to conclude a case more quickly, in which an admission of guilt and acceptance of civil claims by the accused was required.
10/23/2019
OECD proposals will shift taxable profits away from tax havens and back to customer countries by George Bull
The OECD has published new proposals for taxing international consumer-facing businesses.
10/23/2019
Credit Suisse Is Latest Bank to Charge Clients for Cash Deposits
In a normal world savers are expected to receive compensation for giving their money to the bank.
10/23/2019
UBS: We Might Have Fleeced Rich Clients
UBS intends to reimburse affected customers on a basis agreed with the relevant authorities.
10/22/2019
UBS, authorities eye client overcharges in Singapore and Hong Kong
UBS expects the relevant authorities will subject UBS to reprimands and fines as a result of their investigations," it said, noting that it had identified and reported the instances related to transactions between 2008 and 2015.