Managers of Wealth

HMRC to repay £45m in ‘follower notice’ penalties?

Taxpayers in receipt of one ‘should take action without delay’

Have European banks left tax havens? Evidence from country-by-country data

We consider three minimum tax rates—15%, 21%, and 25%—and in each case compute the extra tax owed per bank and tabulate results by headquarter country.

Disclosure of Beneficial Ownership in 2021 – Luxembourg Perspectives

The Luxembourg Beneficial Ownership regulatory framework has been completed first with the issuance on February 15, 2019

SRD II: Transforming Global Proxy Voting And Shareholder Disclosure

Investor communications is a core competency, at the heart of Broadridge.

Luxembourg Plans To Give Its Business Registry More Teeth

The move comes six months after a group of international journalists, coordinated by OCCRP, published their OpenLux investigations, revealing how the country’s opaque financial system allows criminals and the corrupt to avoid taxes and launder their

IBOR Transition

The purpose of the synthetic rates would be to support an orderly runoff of difficult-to-amend legacy contracts.

Credit Suisse and Sanjeev Gupta Extend Stillstand

This means it will take another six months before CS can go after Gupta's business assets.

Pilatus wants compensation, alleges corruption in MFSA’s choice for liquidation lawyers

Pilatus Bank owners file World Bank arbitration claim for damages in shuttering of bank in 2019, and claims choice of law firm Mamo TCV was to the benefit of incoming MFSA chairman John Mamo

Should Swiss Banks Worry About EU Asset Register?

A tender for a feasibility study by the bloc on a potential asset register has sparked fears about the prospect of citizens having to account for every last cent.

Hong Kong Develops System to Prevent Archegos Repeat

Earlier this year, Wall Street experience one of the most spectacular collapses from up to $50 billion of highly leveraged bets from Archegos

US billionaires’ tax-saving ploys are giving others ideas, as politicians take note

An exposé provides a how-to guide for the aspirationally wealthy across America

Milbank Advises General Atlantic on Joint Venture

General Atlantic will serve as one of four partners in the venture, supporting the group with its international expertise in the field of digital marketplaces.

Indian Swiss tycoon could owe $137m amid Isle of Man trust tax probe

A prosecutor then told tax authorities that Hinduja still resided in Geneva, despite claims of residency in Monaco since 2007.

Bedell Cristin advises Ocorian on the acquisition of Trust Corporation

This acquisition enhances Ocorian’s ability to provide a comprehensive service offering to private clients and international corporates in Guernsey alongside its existing strength in fund administration.

Charles Kolstad featured in Tax Notes article on necessary cryptocurrency tax preparations

Charles goes on to highlight that determining an appropriate valuation method for a cryptocurrency is an issue that needs to be addressed.

Switzerland proposes Geneva as headquarters for planned International Sustainability Standards Board (ISSB)

Geneva has a global outreach and is recognised throughout the world as an independent and neutral negotiation venue.

English courts confirm extensive remedies available for victims of cryptocurrency fraud

A key part of the legal test as to whether a Bankers Trust order should be made is whether there is a real prospect that the information sought will lead to the location or preservation of those assets.

Madoff Victims Get Second Crack at Citigroup’s $343 Million

Picard claimed Citi failed to act on red flags concerning Madoff, but a bankruptcy court dismissed the suit, finding the trustee had not shown the bank acted with “willful blindness” to possible fraud.

Hackers Steal Data from Neuchâtel Cantonal Bank

The attackers succeeded in exploiting a vulnerability in the BCN website that has since been dealt with.

Tech and Digital Regulation

Almost weekly there are new headlines warning of risks and perils of ‘big tech’ and misuse of data. Now, more than ever, it is important to ensure public trust in technology, its providers, and to advocate for global standards.

Legal,Regulation,Tax & Compliance