Managers of Wealth

Bill of law transposing ATAD I submitted to Luxembourg Parliament

ATAD I is the answer of the EU to the recommendations formulated under the base erosion profit shifting (BEPS) initiative

Credit Suisse wins $300m broker compensation case

According to Laver, the bank deliberately agreed to the recruiting deal rather than selling the unit as a formal sale would have led to a change of control requiring the payments.

KPMG says audits for scandal-hit Malaysian 1MDB fund not ‘true and fair’ assessment

Mahathir has vowed to bring back billions of dollars allegedly stolen from the fund and to punish the culprits.

The US Supreme Court Wayfair decision's impact on the art market - Withers

This new development may negatively affect New York art merchants, who often arrange shipments of out-of-state deliveries using fine art carriers.

SIX watchdog fines BCGE for reporting violations

SIX Exchange Regulation sanctions Banque Cantonale de Genève

Lessons from Pugachev – trust considerations

The Protector also had positive powers such as to add beneficiaries and to remove trustees with or without cause.

Appleby advise on offshore aspects of £150m sale of Lombard Division

Working alongside lead counsel Addleshaw Goddard, Appleby provided multi-jurisdictional advice on the transaction, evidencing the collective strength of the team across the jurisdictions.

Not so innocent abroad: taxman targets income from foreign holiday lets

Big new financial penalties loom for people hiding any overseas earningsr

The 5th Anti-Money Laundering Directive and the art world

AMLD5 brings new challenges for ‘obliged entities’ including financial institutions, tax professionals, providers of virtual currencies and those trading in luxury goods – such as art dealers.

Middle East Legal Awards 2018 – Banking, Finance and Restructuring Team of the Year: Stephenson Harwood

What Iraq needed was twofold: support with several financings and refinancings, and an economic restructuring that would help plug its budget deficit.

OECD: MLI to rst enter into force on 1 July 2018

According to the terms of the convention, the individual signatories have to ratify the MLI in line with their domestic rules and deposit their ratication instruments with the OECD

Envestnet Announces New Partnership with Hancock Whitney Bank

Thirty-four of the 50 leading banks use Envestnet to help design, develop, and deploy a more profitable operating model for managing their client's retail, high-net-worth, and institutional businesses.

Court queries 'troubling' FCA ban on junior UBS staff

While the court dismissed his suit and ruled that Hussein had offered misleading testimony, it also reserved criticism for the way that the FCA had targeted its investigation and regulatory action.

Macquarie Group's private wealth arm gets axe out again

The final step - if there is no change - is Macquarie assessing removing the adviser from the business.

Legal developments offer greater privacy for officers of wealth management companies

Notwithstanding the new rules, officers of wealth management companies who would prefer to maintain a degree of separation between their personal life and their professional dealings should not publicise their home address in the first place.

China’s crackdown on shadow banking hits foreign asset managers

The major new asset management rules, announced in April, are aimed at tightening shadow banking activities and reducing the systemic risks in order to develop a healthier domestic capital market.

Audi boss Rupert Stadler arrested over ‘dieselgate’ scandal

AUDI CEO Rupert Stadler has been arrested in relation to the emissions cheating scandal. “We confirm that Mr Stadler was arrested this morning. The hearing to determine whether he will be remanded is ongoing,” a spokesman for parent company V

UBS revamps ESG models, hunts for new PMs

Traditional government bonds will be replaced with development bank bonds and sustainable municipal bonds

Merrill weighs lifting ban on retirement account commissions

That rule will go off the books in a matter of days after a federal appeals court overturned the statute in March and the Trump administration DOL declined to appeal to the Supreme Court last week.

Real Madrid's Cristiano Ronaldo agrees €18.8m fine in tax case - sources

The final agreement has still to be signed off on both sides -- and Ronaldo's camp may yet get the prison sentence element removed in exchange for a higher fine.

Legal,Regulation,Tax & Compliance