03/25/2019
Pictet Hit by Alleged Fraud
Geneva's prosecutor has opened a criminal investigation, and the bank has informed Swiss financial regulator Finma, one of the persons said.
Legal,Regulation,Tax & Compliance
03/25/2019
Finma adds three new companies to warning list
Finma has added three firms to its warning list amid concerns about a failure to provide sufficient information to the regulator.
03/25/2019
Swiss Trust Law: Federal Council to Draw Up Law on Swiss Trust
The Swiss attempt to codify the Trust law is a continued effort to not only maintain but to increase the attractiveness of Switzerland as a primary financial location for trust companies and for their clients.
03/22/2019
Billionaire Michael Steinhardt accused of sexual harassment in NYT report
The former hedge fund founder denies touching anyone inappropriately.
03/22/2019
Activities requiring Data Protection Impact Assessment under Luxembourg law
The list put forward by the CNPD does not consist of a comprehensive list of processing operations outside of which a DPIA would not be necessary
03/22/2019
In Your Court: Offshore Dispute Resolution Review - March 2019
The jurisdiction has a reputation for dealing with complex financial services and commercial litigation based on the relevance of its legislation, the reliability of its court system, and the experience of the professionals who work here.
03/21/2019
Transforming wealth-management space poses regulatory challenge
The report noted the rise of two crucial demographic segments.
03/21/2019
Mauritius may be the ideal Plan B
The ‘Singapore of Africa’ offers one of the most progressive investment environments on the continent.
03/21/2019
New Beneficial Ownership Toolkit will help tax administrations tackle tax evasion more effectively
To assist policy makers in assessing different implementation options, the toolkit contains policy considerations that Global Forum members can use in implementing the legal and supervisory frameworks to identify, collect and maintain the necessary benef
03/20/2019
FCA fines UBS AG £27.6 million for transaction reporting failures
UBS AG (UBS) has been fined £27,599,400 by the Financial Conduct Authority (FCA) for failings relating to 135.8 million transaction reports between November 2007 and May 2017.
03/20/2019
Arki Busson’s hedge fund gives up Swiss licence and cuts jobs
LumX had already been slimming down following years of losses
03/20/2019
Labuan Financial Services Authority and China Banking and Insurance Regulatory Commission commit to greater regulatory co-operation and collaboration
The MoU provides the platform for Labuan FSA and CBIRC to enhance the regulatory and supervisory oversight of cross border branches and subsidiaries of China and Labuan based banks and insurance entities.
03/20/2019
MiFID II Research Unbundling: A Survey Yielding Mixed Results
MiFID II required brokers to provide a price for research that was separate from execution services, which in turn would force investment managers to decide whether to pass this cost onto clients or to absorb it.
03/19/2019
UK lawmakers join fight for expats scammed by PremierFX in Portugal
The FCA said that it is continuing to investigate the business undertaken by Premier FX to determine whether any individuals may have broken the law and whether any money can be returned to customers of the firm.
03/19/2019
HMRC targets accountants over tax evading clients
They are the starting point for HMRC to kick off an investigation and any evidence obtained can lead to a criminal prosecution.
03/19/2019
Swedbank to Release AML Report on Friday
Swedbank said it would release Forensic Risk Alliance’s conclusions and field press questions on the report this Friday.
03/18/2019
Citizenship for Sale - Could Croatia Reward Wealthy Investors?
On the World Passport Index, the Republic of Croatia holds a high ranking of sixteen because the owners of its travel documents enjoy visa-free travel to 169 countries across the world.
03/18/2019
Luxembourg tax reform for 2019: Part II
For a Luxembourg company with profits exceeding EUR 200,000, the aggregate tax rate will decrease to 24.94%[1] from 26.01%.
03/18/2019
J. Safra Sarasin Sued by Employee Who Miscarried
Coleman alleges both the bank and her immediate supervisor, long-term banker Feroze Sukh, are culpable under Hong Kong’s Sex Discrimination Ordinance and Disability Discrimination Ordinance.
03/17/2019
Appleby shortlisted as International Law Firm of the Year
Appleby has a thriving private client and trusts practice in some of the most well-regulated and highly regarded offshore jurisdictions for the creation and administration of trust structures.