Managers of Wealth

Germany Raids Big-Four Firm Over Swiss Tax

German officials raided the offices of PwC in Frankfurt over allegations of a Swiss tax scheme that may include current partners of the big-four consulting firm.

Offshore SPACs Listing on the London Stock Exchange

The Hambro Perks SPAC is a Guernsey company. Companies formed in Guernsey, Jersey, the Cayman Islands, the BVI and Bermuda (“Offshore”) all have similar benefits making them attractive as SPACs for listing on the LSE, which are summarised in t

Citi, Commerzbank Named in Congo-China Corruption Scandal

The deal was meant to help rebuild critical infrastructure in the DRC, improving the lives of everyday citizens.

Criminal Case Reveals Breach of Swiss Banking Secrecy

Violations of data confidentiality can be punished with up to three years in jail under Swiss law.

European Commission’s Proposals for reform of AIFMD, UCITS Directive and the ELTIF regime

Welcome changes or regulatory creep?

FCA removes IFA's permissions over concerns of unregulated advice

The Firm has the right to make written and oral representations to the Authority

Regional wealth firm agrees to stop taking client cash on staff exits

The Liverpool-based investment manager is restricted from taking on new clients while it rebuilds its client assets team.

The race for a federal fund mandate is ongoing

But candidates have to hurry up - and a lot is at stake for a subsidiary of the Geneva-based Reyl Group.

JPMorgan wins appeal against insurers over Bear Stearns settlement

Banks, mutual fund firms and individuals paid billions of dollars to settle regulatory probes of the practices

UK Charity Commission closes its case into The Runnymede Trust

The Commission examined whether the trustees of Runnymede had acted in accordance with their legal duties and responsibilities and whether the charity had been engaging in unlawful political activity.

Basel Committee publishes more details on global systemically important banks

The final scores are mapped to corresponding buckets that determine the higher loss absorbency requirement for each G-SIB.

Swiss Banks Facing Default Threat

Companies which struggled during the pandemic were able to delay going bankrupt through government funding received in 2020 and 2021.

Divorce proofing trusts - a step too far?

Although the judgment is focused on the role of the Court in blessing a trustee's momentous decision, the judgment also clarifies the relevant considerations for a trustee when exercising a power of exclusion.

Wealth Management: Succession in the form of Trusts

The Trustee is under an obligation, legal and contractual by virtue of the trust deed, to act in the best interests of the beneficiaries.

Guernsey linked to thousands of UK property ownerships

THE legal ownership of thousands of properties in the UK has been linked to Guernsey by new research.

Credit Suisse's Settlement Under Scrutiny

Credit Suisse settled tax fraud allegations with the U.S. Justice Department (DoJ) for $2.6 billion.

EU Move Marks Threat for Swiss Banks

This cross-border crackdown is central to streamlining global banks within the EU, and hands more heft to regulators.

Standard Chartered facing court case

Standard was hit by a further £900million fine in April 2019 for breaching the sanctions after a US investigation found it had been dealing with Iranian, Cuban and Sudanese individuals and entities.

EU formally adopts public CbC reporting

Subsidiaries or branches below the revenue threshold also will be required to publish their tax information if they are deemed to exist only to help the group avoid the new reporting requirements.

HKMA takes disciplinary actions against four banks

In addition, all four banks contravened the requirement of establishing and maintaining effective procedures for carrying out their duties in relation to ongoing CDD under the AMLO,

Legal,Regulation,Tax & Compliance