11/16/2021
Rabobank faces punishment over customer anti-money-laundering checks
Both banks were warned by the DNB about their weak enforcement of anti-money-laundering practices ahead of the settlements.
Legal,Regulation,Tax & Compliance
11/16/2021
Losses to OECD tax havens could vaccinate global population three times over, study
Poorer countries hit hardest by global tax abuse at the hands of rich countries
11/16/2021
New tax regime for UK asset holding companies
The new regime includes a number of UK tax reliefs which we expect could be of interest to fund managers and investors in alternative assets.
11/16/2021
Evergrande: Lux Homes, Art, Calligraphy and More Sold to Raise Funds
63-year old Hui Ka Yan continues to seek ways to raise funds by selling his private assets after Chinese authorities reportedly told the Evergrande chairman to use his personal wealth to repay bondholders.
11/16/2021
Commitments fulfilled: The USA terminates the deferred prosecution agreement with the bank
The responsible US court in New York has approved this application.
11/16/2021
USA terminates ZKB’s deferred prosecution agreement
The agreement started in 2018, following a seven-year tax dispute.
11/14/2021
When Should Offshore Trustees Participate In Foreign Proceedings?
Choosing to do nothing in the face of foreign proceedings may result in a foreign judgment
11/13/2021
Future regulatory framework – Treasury to reform regulation post-Brexit
The consultation proposes changing this principle to clarify that such growth should happen in a sustainable way that is consistent with the UK’s net zero commitments.
11/13/2021
How your cryptoassets will be taxed in the UK
This means that investors found to be evading tax bills may incur severe penalties – further evidence for why getting your cryptoasset taxes in order is crucial.
11/12/2021
Swiss Banker's Ex-Wife Snagged in Data Breach
Ceregato paid nearly 56,000 Swiss francs ($61,000) in fines and court fees as a result of the decision, carried out by Zurich's prosecutor.
11/12/2021
Belgium: New special tax regime for expatriates proposed
This article summarizes the most important anticipated changes based on the draft text of the proposed legislation and related explanatory documents as approved by the Council of Ministers.
11/12/2021
FCA fines London broker £600k over ‘suspicious’ offshore trades
The FCA found that Sunrise had deficient systems and controls to identify and mitigate the risk of facilitating fraudulent trading and money laundering in relation to business introduced by the Solo Group, between 17 February 2015 and 4 November 2015.
11/11/2021
Ten Carey Olsen lawyers recognised as leading private client practitioners
This recognition follows in the footsteps of Carey Olsen's trusts and private wealth practice
11/11/2021
European Parliament formally adopts EU public Country-by-Country Reporting
A breakthrough was achieved in February 2021 in the Council of the EU, as a result of certain countries changing their previous position and agreeing to support the proposal.
11/10/2021
Federal Council brings new legal framework on implementation of international tax agreements into force
The revision of the law now also stipulates how mutual agreement procedures are to be carried out at national level, provided the applicable agreement does not contain any deviating provisions.
11/10/2021
Swiss Bank Tax Evasion Case Highlights Singapore's Gaps
This raises questions about how effectively the city-state fights financial crime.
11/10/2021
Credit Suisse to Suffer Tougher U.S. Stance?
These deals are struck to settle criminal charges in mutual agreement without a trial.
11/08/2021
UK welcomes work to develop global sustainability reporting standards alongside 40 international partners
UK government joins 40 international partners from 6 continents to welcome the establishment of the IFRS Foundation’s new International Sustainability Standards Board (ISSB) at COP26.
11/07/2021
Swiss double taxation agreement with Bahrain
The new DTA promotes economic relations between Switzerland and Bahrain.
11/06/2021
EU regulators ease reporting demands in MiFID 2 "Quick Fix" Directive
From a high-level perspective, the changes are focused on reducing the administrative burden on affected firms with operations in the EU, including exemptions from ex ante cost and charges reporting plus some product governance requirements.