03/30/2021
Vatican official ‘offered call girl as thank you for £300m Chelsea property deal’
Judge Tony Baumgartner dismissed the restraint orders on Torzi, who denies charges of embezzlement, fraud, extortion and money laundering.
Legal,Regulation,Tax & Compliance
03/30/2021
Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?
A SPAC is essentially a shell company formed with no business purpose or undertaking other than to raise funds for some future undefined object, and then later use the proceeds of that offering to acquire a private company in a reverse merger.
03/29/2021
Greens target super-rich with $40b billionaires’ wealth tax
The proposed billionaires’ tax would capture all the assets of a high net worth individual, including property, artwork, jewellery, cash on hand and shares
03/29/2021
Instagram influencer has defrauded his million followers out of $2.5 million in a Bitcoin for cash scheme – He claimed to be worth $33m but had $162 in his bank account
The 25-year-old Instagram star had induced victims to send him Bitcoin in exchange for wire transfers of cash, but he never sent the money in reality.
03/29/2021
ESAs remind consumers about crypto-asset risks
Crypto-assets are quite diverse in nature and come in many forms but the majority remain unregulated in the EU
03/29/2021
The World Bank Group: enforcement trends and insight
The OSD also reviews all settlements entered into by INT to ensure that the agreements are voluntary and consistent with World Bank Group Sanctioning Guidelines; in FY 2020 it reviewed 22 settlement agreements.
03/29/2021
City may never be the same as five-day-a-week commute ends, says former Bank of England deputy
The switch will impact the economy “in ways we don’t fully foresee”, the former deputy governor for monetary policy at the Bank said this morning.
03/26/2021
Tax treaties: OECD publishes 30 country profiles applying Arbitration under the multilateral BEPS Convention
The Arbitration Profiles also allow those jurisdictions to make publicly available clarifications on their position on the MLI Arbitration.
03/26/2021
FINMA publishes 2020 Annual Report
The year 2020 and FINMA’s activities were dominated by the coronavirus pandemic.
03/26/2021
1MDB Case Hits Setback as Judge Rules Against U.S. Justice Department
U.S., Malaysia argue Petrosaudi funds tied to money-laundering
03/26/2021
UK and EU begin diverging on financial regulation after Brexit
Prospects for supervisory ‘equivalence’ fade as each side pursues differing rules
03/26/2021
Dentons launches Global Bid Challenge Tracker to enable quick comparison of bid challenge laws across multiple jurisdictions
Leveraging Dentons' global platform and award-winning commitment to technological innovation, the Firm launched this innovative, free platform to allow corporate leaders to create customized user-friendly comparisons of the laws.
03/26/2021
Charity Commission launches a campaign to refresh trustee knowledge of charity governance
The Charity Commission has launched five videos to help trustees be “certain in uncertain times”, which accompany the ‘5 minute guides’ for trustees which were published in November 2020. The videos and the guides aim to fulfil th
03/26/2021
Sanne secure new Mutual Funds licence in the Cayman Islands
The new licence expands Sanne’s existing product offering in the Cayman Islands, adding fund administration to its existing regulated trustee and company management services capability.
03/26/2021
Climate considerations now fully embedded across UK principal financial regulators
The UK has extended its global leadership on green finance by requiring its principal financial regulators to consider climate change, it was announced today (24 March 2021).
03/25/2021
Banknote character - speech by Andrew Bailey
Given at the unveil of the Alan Turing £50 polymer Banknote
03/25/2021
Jersey Funds Industry Reaches New Record Heights in 2020 in Face of Challenging Global Market Conditions
The increase reflects a period of sustained growth for Jersey’s funds industry, with the figure at the end of 2020 rising by more than two thirds (67%) over the last five years.
03/25/2021
Kingswood removes VAT from managed portfolios
This is the latest in a trend of DFMs removing VAT from their MPS offerings, as firms attempt to stay competitive with one another.
03/25/2021
HM Treasury Advisory Notice: Money Laundering and Terrorist Financing controls in higher risk jurisdictions
Requirement to apply Enhanced Due Diligence for higher risk jurisdictions.
03/25/2021
KPMG 2021 CEO Outlook Pulse Survey
Preparing for a new reality