Managers of Wealth

The Bahamas Update

The Bahamas is Compliant with 18 Recommendations and Largely Compliant with 20 Recommendations, positioning the country in the top tier amongst FATF and FATF-Style Regional Body global network.

Beijing Crackdown Hitting Wealth Management Client Base

Not only do all these steps shrink the long-term client base for the wealth management sector – they also make it that much harder to bank them.

Santander Vs Andrea Orcel Set for Next Round

A veteran Italian dealmaker who now runs Unicredit, Orcel won damages over lost salary and moral harm for backtracking on its CEO job offer in 2018.

Swiss court confirms extradition of German ‘cum-ex’ fraud suspect

A Swiss court has allowed the extradition to Germany of Hanno Berger, a German banker accused of playing a key role in a years-long tax fraud.

One of Switzerland’s Richest Foundations in Turmoil

A key person for the institution’s transformation is family-outsider and controversial figure Monika Matti, who manages important parts of the Sandoz Family Foundation and represents the foundation on several company boards.

Overhaul of UK financial promotions exemption regime proposed

The government said these changes included the development of the online retail investment market, price inflation, and pensions freedoms, which have eroded the value of the HNWI exemption thresholds.

Fidleg what portfolio managers need to know

The changes have wider implications for many businesses

Baker McKenzie advises Vontobel in the acquisition of UBS Swiss Financial Advisers AG

With the takeover of SFA, Vontobel plans to further strengthen its position as a provider of regionally diversified strategies with a global approach.

Human rights gaining ground in ESG litigation

Part of the claim is that the polluting countries are breaching their right to exercise outdoors and live without anxiety.

Carey Olsen advises on interactive investor's £1.5bn sale to abrdn

The acquisition is part of abrdn's ongoing growth strategy and its commitment to the personal wealth and direct investing market.

Departing Credit Suisse executive could face $10m clawback

Eric Varvel was proponent of the Greensill Capital-linked supply-chain finance funds that unravelled

KPMG Records Strong Growth in FY21

The aggregate revenue of KPMG member firms in the Middle East & South Asia region grew by 7.8% in US dollar terms for FY21

UBS Accepts Verdict for French Subsidiary

While the banking group is appealing againt these convictions, it has accepted the verdict against its French subsidiary UBS (France).

France’s LVMH to pay $11.3m to settle spying claims

LVMH revenues in the first three quarters of 2021 increased 46% from the same period last year.

António Horta-Osório Bumbles Through Minefield

A new day, a new imbroglio involving António Horta-Osório, who last week apologized for breaking Swiss quarantine, only to be reported to have mixed business in Asia with an Indian Ocean stopover.

UBS Weighs Continuing the Fight in France

UBS's motivation to do so is partly out of fear the conviction and fine could imperil its business.

Czech Billionaire Family Faces Final Showdown Over Bank Merger

Approval odds rise after advisers endorsed PPF’s latest offer

PRA fines Standard Chartered Bank

The PRA’s investigation identified that SCB’s internal controls and governance arrangements underpinning its regulatory reporting in relation to the liquidity metric were not implemented or operating effectively.

Tax Justice Network research again draws flak from tax havens and critics

The Financial Secrecy Index ranks countries based on their complicity in helping individuals hide their finances from the rule of law.

A year the tide turned in the fight for tax justice

Our analysis of the G7 global tax deal was widely covered in media and press.

Legal,Regulation,Tax & Compliance