10/29/2019
Labuan IBFC Signs MoU with China Construction Bank
The MOU will allow the benefits of Labuan IBFC to be shared with CCB’s extensive clientnetwork through its 15000 branches in China and globally.
Legal,Regulation,Tax & Compliance
10/29/2019
Deutsche Bank: Is the President stumbling over Jürg Zeltner?
The resignation of KBL CEO Jürg Zeltner from the board of directors of Deutsche Bank forced by the regulators has consequences.
10/29/2019
Fifth of law firms fail to comply with money laundering rules
The watchdog also revealed that it had opened 172 investigations linked to anti-money laundering compliance this year.
10/29/2019
Finma adds nine firms to warning list
The latest companies to supply insufficient or falsified information to the regulator.
10/29/2019
PRI asks signatories to join in effort to prod U.S. to act on responsible investment
The letter cites "a string of regulatory rollbacks under the Trump administration in recent years that have undermined policies on good governance, transparency and ESG integration in the investment process."
10/28/2019
Use of trusts in succession planning in Hong Kong
The extent of powers and functions given to a settlor, a protector and the trustee are therefore one of the most critical decisions to make when setting up a trust.
10/28/2019
Ex-Formula One boss Bernie Ecclestone, 88, is set to settle his record £1BILLION tax demand with HMRC after a 20-year battle
Trust set up by his wife is believed to have raised £3billion from selling F1 stakes
10/28/2019
KPMG mulls plans to shut down its private members' club
It is understood that around 50 roles were placed at risk of redundancy as a result of the restructure.
10/28/2019
UBS Wants Top Exec Iqbal Khan to Withdraw Criminal Complaint
UBS declined to comment on the ongoing criminal proceedings to SonntagsZeitung.
10/28/2019
All about change - Frontiers in Finance
Challenges and opportunities facing banks, insurers and asset managers as they transform for sustainable growth
10/28/2019
EY: Gold, drug money and a major auditor's 'cover-up'
The following year the accountancy firm EY, formerly known as Ernst and Young, had been asked to conduct a review of Kaloti's compliance
10/28/2019
BlueCrest Capital hedge fund sues two traders, accusing them of lying to get big bonuses
The company says it paid bonuses of £230,788 to the two equities traders that month and allocated £3.5m of deferred bonuses to them the following month, most of which they drew in April.
10/28/2019
Vatican bank chief says latest scandals are true proof of reform
While all that may make it tough to assess the latest round of purported scoops and stern denials, what’s becoming clear, at least, are the dueling narratives at work.
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.
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.