Managers of Wealth

Compliance in the new era of regulatory proliferation

There are clearly immense challenges to integrating these new – or revamped - global regulations into the wealth management businesses.

International law firm launches strategic citizenship and residence consultancy

Helping clients interested or needing to secure additional citizenships, or residency rights through investment programmes, will be an area of particular focus

Australia gives regulator sweeping powers over bank bosses' pay

The series of scandals has cost Australian banks, among the most profitable in the world, hundreds of millions of dollars in fines

Second Citizenship More Affordable Than Ever; but Time is Running Out

Second passports can help provide businesspeople in the region with more security for their families and businesses, as well as the freedom of movement.

Seven Investment Management warns on clone attack

Seven Investment Management (7IM) appears to have become the latest firm to be the target of scammers cloning its identity.

Lloyds to axe handful of wealth roles in business restructure

In net terms 465 jobs will go, with Lloyds planning to create 465 new positions across the business.

European banks intensify checks of Russian clients

Should the banks detect any violations associated with a certain customer, his or her account will be subject to restrictions, since the financial institution will start asking the client for additional information for each transaction

Philippines president orders destruction of dozens of luxury cars worth more than £1 million as bulldozer filmed flattening the lot

Among those destroyed were 10 BMW and Mercedes Benz, a Lexus, Corvette Stingray, Ford Explorer Base 3.5L, Jaguar Type S, Audi S5 and a 2012 Jeep Wrangler

Guernsey playing a key role as UK financial services prepare for Brexit

He admitted it was currently unclear how Guernsey should best position itself to continue to do business with the UK post-Brexit, but was clear that the island was ‘part of the British financial family’.

Government crackdown on offshore tax cheats brings in a THIRD of the £1billion expected in the wake of Paradise Papers scandal

Changes included agreements with offshore low-tax havens such as Switzerland

The Future of the City - Andrew Bailey

Speech by Andrew Bailey, Chief Executive of the FCA, at the Future of the City dinner.

Swiss regulator censures Gazprombank after Panama Papers

Bank banned from taking new private clients over failings on money laundering checks

Swiss Private bank broke money-laundering rules in Brazilian cases: FINMA

FINMA has investigated more than a dozen Swiss banks in relation to the Petrobras and Odebrecht cases and launched four enforcement proceedings, one of which is pending

Bermuda: "Gimme Shelter" - Offshore Asset Protection Trusts And Firewall And Fraudulent Transfer Legislation

There is no legal definition of an asset protection trust under the law of Bermuda or in most other jurisdictions.

Ex-HSBC Wealth Manager Accused of $3 Million Drip-Feed Heist

The ex-employee’s ruse was discovered when he tried to withdraw a larger sum that raised the alarm

In the Courts in 2017: an Appleby review of offshore court decisions

Even on that selective basis we cover some 50 decisions, ranging from first-instance interlocutory decisions, all the way through to decisions of the Privy Council.

HMRC powers to scrutinise unexplained wealth go live

“Significant” regulation that requires individuals to explain to HM Revenue & Customs and the Serious Fraud Office (SFO) where their wealth came from has come into force.

American Sentenced to Prison for Concealing Assets in Swiss Accounts

Failed to Report Foreign Financial Accounts with Value Exceeding $28 Million

SEC Halts $600M Bank ICO Scam

The SEC’s investigation was conducted by David Hirsch and supervised by Jessica Magee and Eric Werner in the Fort Worth Regional Office in coordination with the Enforcement Division’s Cyber Unit.

Secret wealth executive: strangulation by regulation

The unfortunate consequence is that respect for both the rules, and those that apply them, dries up.

Legal,Regulation,Tax & Compliance