Managers of Wealth

Julius Baer Pays Hefty Fine on Business with Yukos

The amount was previously disclosed in the mid-year report of the Julius Baer group.

Switzerland Freezes Billions in Russian Deposits

This reporting requirement does not affect people who either have citizenship or permanent residency in Switzerland or the European Economic Area (EEA).

FCA fines Julius Baer International Limited £18m and publishes decision notices for three individuals

This was done on the understanding that the Yukos Group companies would then place large cash sums with Julius Baer from which Julius Baer could generate significant revenues.

Compliance checks come with the territory

Strict rules affect high-earning professionals but help is at hand to cut through the red tape

Deposit protection – the banks have to loosen 2 billion Swiss francs

If multiple people share an account, that community will be treated as a separate customer for security purposes.

Red card for John Carew - Ex-Norwegian international footballer jailed for tax evasion

During the relevant period, Carew had submitted Norwegian tax returns which stated that he was resident in the UK for tax purposes.

Goldman Sachs to Pay $4 Million SEC Penalty in ESG Fund Case

Asset management unit didn’t follow policies, procedures: SEC

CS shareholders give the green light

Bank President Axel Lehmann saw the vote at the general assembly as a vote of confidence.

Alpadis Group obtain license, open new office in Dubai International Financial Centre

Alpadis Group secure license to operate in DIFC, to offer more solutions for financial services, Family Office, Holding companies, investment funds and other structures

Apex Group Budget Briefing - Autumn Statement 2022

The Office for Budget Responsibility saw an average inflation rate for this year of 9.1% and 7.4% predicted for next year.

GFG Takes Step Towards Settlement With Creditors

The agreement, subject to approval, pauses further litigation by the Swiss bank against the steel group.

Swiss National Bank Chairman Hints Again at Future Rate Hikes

The market expects the SNB to hike rates at its next monetary policy meeting on Dec. 15, a forecast Jordan acknowledged, adding market expectations had the SNB's policy rate rising to 1.5% to 2% in the next two years.

UBS Wealth Managers Who Jumped Ship Sued in the US

UBS is now suing seven members of the team saying they contacted UBS clients to lure them to RBC in violation of confidentiality and nonsolicitation agreements.

Former Morgan Stanley CEO on Swiss banks: Secrecy is 'their nature'

It also promised to reveal any hidden bank accounts.

Basel trustee firm receives Finma licence

Atag Swiss Trustees was founded in 1945 and is part of the Atag Group.

FINMA Risk Monitor 2022: increased risks due to uncertain prospects

It derives its supervisory focus from these.

Switzerland and the UK strengthen their cooperation in research and innovation

The MoU is intended to create stronger networking and cooperation between the research and innovation communities of both countries.

Swiss-Asia AM fined HK$3m for regulatory breaches

It failed to monitor record keeping and trading activities in discretionary accounts

Sunak considers raising additional rate tax band

The prime minister is considering raising the 45% rate or lowering the £150,000 threshold at which the tax band kicks in.

Authorities raid UBS offices in Germany

The searches are connected to the Russian oligarch Alisher Usmanov. Usmanov is already the subject of several investigations on suspicion of money laundering.

Legal,Regulation,Tax & Compliance