04/05/2018
Japanese and Swiss regulators ink fintech pact
This Cooperation Framework recognises the global nature of innovation in financial services and intends to enhance the relationship with FINMA on FinTech.
Legal,Regulation,Tax & Compliance
04/05/2018
FCA reveals strict new rules for asset managers
The FCA has also today published an Occasional Paper setting out the results of behavioural research which looked at how different ways of presenting information about charges affected investors’ decision-making and their understanding and awareness
04/05/2018
Why Many Trusts And Estates Lawyers Are Missing The 2018 Gold Rush
The Tax Cut and Jobs Act of 2017 is certainly a powerful catalyst for generating significant new revenues.
04/05/2018
HMRC gives Formula One £180 million tax boost
F1's headquarters and the company which owns its valuable commercial rights are based in London, so it pays tax in the UK on its profits, known as EBITDA.
04/04/2018
Merrill Lynch Gives Up Fight Against Former Advisors’ Right to Arbitrate
Merrill Lynch has dropped nine federal court cases it filed against former financial advisors to prevent them from arbitrating claims against the firm.
04/04/2018
Steve Cohen beats $8B suit alleging he tried to ‘kill’ insurer
Charges against Kynikos and Third Point were previously dropped but the case against SAC was revived last April.
04/03/2018
Offshore UK jurisdictions react to latest tax avoidance inquiry
Awareness of the inquiry was heightened by the publication in the UK’s Guardian newspaper, also last week, of comments on the matter by John Mann, a Labour party MP who is chairman of the Sub-Committee overseeing it.
03/31/2018
HSBC is investigated over £134m ‘tax evasion’ scheme
Ten defendants, including City bankers and financial advisers involved in selling the scheme through Zeus, had previously been charged with cheating the public revenue, an offence that can lead to lengthy custodial sentences.
03/30/2018
Central Bank fines wealth firm
However, the Central Bank said it identified failures by BCWM which has admitted to the breaches regarding necessary arrangements for opening client asset accounts.
03/30/2018
Estate and Tax Planning Use of Trusts for Qualified Plan Assets
The goal is to enable the trustee to defer income taxes on the benefits while coordinating the requirements of the client, the trustee, the plan administrator and the IRS.
03/29/2018
HMRC publishes new guidance on offshore tax offences
New online guidance setting out taxpayers' responsibilities in respect of offshore income, assets and activities has been published by HM Revenue and Customs (HMRC).
03/28/2018
Switzerland must 'urgently' do more to tackle bribery and protect whistleblowers, OECD says
Country faces 'particular risk of corruption' be because of a large number of public international organisations and an outsized financial sector, report says
03/28/2018
Oligarch’s £22m property frozen in crackdown on unexplained wealth, security minister reveals
The oligarch was served with an “unexplained wealth order”, under the new Act.
03/28/2018
Arbuthnot Banking's full-year profit jumps on surge in lending
Arbuthnot Banking Group stuck to its optimistic stance over Britain’s vote to leave the European Union, saying that the associated turmoil would create investment opportunities.
03/28/2018
The Impact Of Tax Reform Changes On High-Net-Worth Clients
Perhaps the first and most obvious change relating to HNW individuals is the doubling of the estate and gift tax basic exclusion amount.
03/27/2018
How Law Firms Can Prepare for FinTech Wave
The innovations and industry disruption should have law firms snapping to attention.
03/27/2018
Swiss intelligence services ignored spying laws, report finds
The FIS collected largely worthless information in the investigation, managed the spy badly and disobeyed the law, the report says.
03/26/2018
McMafia probe into death of Scottish property tycoon amid fears Russian hitmen threw him out window
Scot Young and four of his rich pals all died between 2010 and 2014 and his ex-wife says his £1billion fortune is at root of his 'murder'.
03/26/2018
Switzerland repatriates chunk of frozen Mubarak funds
The value of the assets has declined from an original total of CHF700 million but efforts to unblock the remaining funds, which were held in Swiss bank accounts, have been convoluted.
03/26/2018
SGG Depositary Netherlands obtains AIFMD depositary license
SGG Depositary Netherlands is now one of a select group of independent, non bank, depositaries in the Netherlands.