02/22/2018
Appleby advises Butterfield in connection with its acquisition of Deutsche Bank's Global Trust Solutions business
It also provides us with a physical presence in Asia, which we view as a growth market for Butterfield.
Legal,Regulation,Tax & Compliance
02/22/2018
HSBC’s Swiss private bank faces $1.5bn fine for alleged tax evasion
The bank has set aside $604m to settle the probes and said it is cooperating with authorities.
02/21/2018
Indian police arrest sixth bank official in $1.8b fraud case
The branch is at the center of the alleged fraud involving firms tied to diamond merchants Nirav Modi
02/21/2018
How to Hide a Russian Fortune on the French Riviera
Next month, the European Union is due to review this blacklist.
02/21/2018
FCA calls for help embracing regtech
To aid regulatory reporting
02/20/2018
Nine Carey Olsen lawyers recognised by Chambers Global
Carey Olsen's Cayman Islands team was promoted in the corporate and finance category of the rankings
02/20/2018
HSBC Says Swiss Bank Tax Probe Could Cost More Than $1.5 Billion
The bank paid the French government 300 million euros ($370 million) in November to settle allegations that it helped clients hide assets from local tax authorities.
02/19/2018
Monaco resident Russian Billionaire Continues His Epic Legal Crusade Over the ‘Largest Art Fraud in History’
Rybolovlev’s latest efforts constitute something of a one-two legal punch.
02/19/2018
Switzerland and Saudi Arabia sign double-taxation agreement
The Swiss minister had arrived in Riyadh on Saturday for a four-day visit to the Middle East, accompanied by Swiss State Secretary for International Financial Matters Jörg Gasser, as well as representatives of some dozen Swiss financial institutions.
02/19/2018
Finma publishes ICO guidelines
Creating transparency at this time is important given the dynamic market and the high level of demand. Each case must be decided on its individual merits
02/19/2018
HSBC hopes to leave era of scandals behind
The bank has been held back by huge fines and hasty acquisitions, but believes it is now in a position to grow again
02/19/2018
6 ways to tax the ultra-wealthy better
They argued that despite famous calls for co-ordinated global wealth taxes, like the one from Thomas Piketty in 2015, there are very few wealth taxes that are both effective and explicit.
02/19/2018
Carey Olsen advises Butterfield as it strengthens its banking and custody operations
The acquisition, which is subject to regulatory approval, would further expand Butterfield's presence in the Channel Islands by providing a Jersey presence for the group.
02/19/2018
The Bahamas: Clearly Focused
This spirit of cooperation is coupled with the teeth of enforcement, as the enactment of the UK Criminal Finances Act, extends extraterritorial reach to individuals and entities that fail to implement policies and procedures to prevent the facilitation of
02/19/2018
South African Fund Manager Puts Up Bounty in Hunt for the Guptas
She’s also pledged 200,000 rand to the first Gupta bodyguard who calls the authorities to reveal his location
02/16/2018
Credit Suisse under investigation in US over Asian hiring
The development comes in the same week as the Zurich-based bank reported a net loss of $1bn for 2017, largely attributed to American income tax expenses.
02/16/2018
Indian investigators raid billionaire jeweller's offices
It made fresh allegations against Modi to the CBI, according to PTI.
02/16/2018
Wealth firm director ordered to pay $400,000
Director excluded from financial services industry for five years and agrees to pay $400,000 to financial literacy fund
02/14/2018
Explain your wealth or have it seized
Despite the picture painted in the BBC’s recent McMafia series, the UK is not necessarily awash of dubious foreign wealth. But what is the UK doing to clampdown on money laundering and increase transparency?
02/14/2018
Cayman Islands introduce country-by-country reporting for certain multinational enterprises
MNE groups with annual consolidated group revenue in the preceding financial year of US$850 million or more with a Cayman entity in the group are caught.