Managers of Wealth

Algo Traders Warn U.K. Over MiFID II Rules

The groups also want the BOE to make sure it’s not exceeding requirements under the revised Markets in Financial Instruments Directive for executives to sign off on the use of algorithms.

Understanding and preparing for GDPR

GDPR is based on the concept of data protection “by design”, meaning that data privacy, risk and compliance needs to be built into the systems, processes and procedures across an organization. There’s a fair amount to unpack with this ne

Estate agency sets up divorce division aimed at wealthy splitters

It also advises clients on what it costs to run a home in a particular area so they can use the information as part of a claim against their spouse, and finds short-term accommodation for those going through the divorce process.

Actress Monica Bellucci suspected of having secret Swiss accounts

A Swiss fiscal investigation found a safe and several accounts in a Swiss bank, of which a part was said to be linked to a shell company in the British Virgin Islands, the Tages-Anzeiger reportedexternal link.

PA360: MiFID II nudges wealth managers into financial planning

Under the second iteration of the Markets in Financial Instruments Directive (MiFID II), the manager has to set client objectives and subsequently build a portfolio, proving they had met them, she explained.

Australian Government targets tax evaders

She said while the ATO found the majority of Australians complied with their tax obligations

Transparency in the territories – public ownership registers in Cayman, Bermuda and the BVI

The amendment's long-term benefits are likely to centre on image and influence.

Former Credit Suisse banker gets 4-year ban for dishonest conduct: MAS

Finance professionals who engage in dishonest conduct to frustrate the detection of such suspicious transactions must be dealt with firmly.

Deutsche Bank extends Frieze partnership to Los Angeles, strengthening commitment to arts in the US

Deutsche Bank Wealth Management to be Global Lead Partner of the new Frieze Los Angeles in 2019 / Global Lead Partner of this week’s Frieze New York for seventh year

Tax Office targets $900m linked to 106 secret Credit Suisse accounts

A separate criminal investigation has been referred to the cross-agency Serious Financial Crime Taskforce.

Former RBC FX trader suing bank for £13 million

He claims this is because he blew the whistle on a number of failings at the bank – which put senior managers’ noses out of joint – and is now suing the bank for £13 million.

Al Baraka Banking Group and the Bank of London & The Middle East (BLME) sign a Memorandum of Understanding

Opportunities to collaborate and gives BLME the chance to provide Al Baraka clients with investment opportunities in UK real estate.

Cayman Islands considers legal action to stop public scrutiny by UK

Premier Alden McLaughlin says decision is reminiscent of bygone era of colonial despotism

The Consigliere to the Ultra-Rich

She has led the prestigious Zurich law firm’s practice with private clients for more than ten years

Russian billionaire Abramovich in Swiss court over debt case

The suit aims to recover alleged debts left behind by Abramovich's now-defunct Runicom trading firm, which was based in Switzerland until its bankruptcy in 2003.

Chief Minister Meets UK Ministers to Address Constitutional Concerns with Amendments to Sanctions and AML Bill

“The speed with which the UK Government has intervened on this issue demonstrates the value of our close co-operation and our centuries of shared heritage.”

Jersey Completes Multi-Jurisdictional Review of Exchange of Notes on Beneficial Ownership

This has ensured that the most adequate, accurate and current information is able to be exchanged quickly with the relevant law enforcement and tax authorities, in pursuit of the worldwide fight against financial crime.

Report: Swiss begins criminal probe on 1MDB's JV partner

"US investigators have previously alleged that US$1 billion of Malaysian public money meant for a joint venture between 1MDB and PetroSaudi was siphoned off to a Malaysian businessman.

UK searches for compromise over offshore ownership registers

Ministers try to broker deal to avoid defeat in parliament

Philanthropic assets can grow by half if Hong Kong relaxes taxation cap

Hong Kong’s relatively relaxed legal requirements for charitable organisations is one major draw to being the best city in the region to establish such structures

Legal,Regulation,Tax & Compliance