04/23/2021
£140000 fine against Standard Chartered Guernsey subsidiary
A licensee is expected, at all times, to comply with the requirements of the Regulations
Legal,Regulation,Tax & Compliance
04/23/2021
Cyber hack challenges in international arbitration
Proceedings disrupted over allegations of hacking by an adversary
04/23/2021
No or only nominal tax jurisdictions carry out first annual information exchanges
The information to be exchanged relates to the identity, activities, and ownership chain of entities that are noncompliant with substance requirements or that engage in “high-risk” activities, such as activities relating to intellectual proper
04/23/2021
Swiss authority to probe Credit Suisse over trading losses
The authority said such "enforcement proceedings" against financial institutions typically take months, depending on the complexity of the matter.
04/22/2021
Charity begins at Cuthbert’s home — An update on Colin v. Cuthbert
But Aldi’s Cuthbert is seemingly taking his battle straight to the court of public opinion, by launching a public relations campaign showing some real caterpillar chutzpah.
04/22/2021
Swiss Regulator Probes Credit Suisse's Scandals
The Bern-based regulator confirmed that it opened an investigation last month into Credit Suisse's involvement with insolvent Greensill.
04/22/2021
AllianceBernstein Executes Landmark Corporate Bond Trade Utilizing Broadridge's LTX® Trading Platform with Four Buyers on Same Block Trade
LTX's patented RFX digital trading protocol powers historic corporate bond trade initiated by AllianceBernstein to maximize liquidity, efficiency and execution
04/22/2021
New PIF rules further enhance Guernsey’s funds offering
A third path will enable a PIF to be created as a bespoke private wealth structure requiring a family relationship between investors.
04/21/2021
Beware the offshore tax crackdown: From holiday homes to secret Swiss accounts, HMRC is getting tough on Britons making money abroad
The offshore financial interests of millions of Britons have been handed to HMRC since 2018
04/21/2021
Snapshot: SPACs and private equity - new tools for investment and acquisition
The current resurgence in SPAC activity started in 2012 and, after initially seeing steady year on year growth, SPAC use suddenly rocketed in late 2019. Since then, growth has been almost exponential.
04/20/2021
You heard NY finalized its budget: What does this mean for the art world?
While some may forecast a negative impact on the art market as collectors may have less cash in their pockets available for discretionary purchases (like art), we do not think this tax change spells all doom and gloom.
04/20/2021
U.K. Court Rapped UBS in Rape Case
Zurich-based UBS settled a discrimination and harassment lawsuit with a former graduate of its investment bank in London ten months ago.
04/20/2021
APAC Monthly Private Wealth Legal Developments – April 2021
The Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 proposes to allow a tax deduction for foreign taxes on non-interest income that were charged on a gross income basis and to allow a non-Hong Kong resident to claim a deduction for foreign
04/20/2021
Buying a Yacht – What About Tax?
There are a number of questions that the well-advised owner of a yacht should be asking themselves when it comes to taxation, the fundamental of which is simply to consider how much they are being told about the taxes relating to what they are doing.
04/20/2021
SMCR and COVID: Regulatory expectations and a "reverse holiday" rule? Just a thought.
Post the financial crisis in 2008 you will remember that the FSA effectively brought in a "two week holiday rule".
04/20/2021
Crypto payments banned in Turkey — Is this just the beginning?
Turkey’s vibrant ecosystem took a hit from the new crypto payments ban, and industry participants speak out on potential implications.
04/20/2021
Here’s how to reduce exposure to tax increases with charitable contributions
The wealthy are facing a rise in taxes. Charitable donations are a way to reduce exposure while giving back.
04/20/2021
Schroders PW zero commission will not solve protection gap
‘No fee means no business, surely?’
04/20/2021
FNZ Told For A Secod Time To Undo GBST Acquisition
Its other offerings serve wealth managers, retail brokers, custodians, and margin lenders, officials say.
04/19/2021
How does Brexit affect the UK’s Anti-Money Laundering laws?
This whitepaper sets out to uncover the impact of Brexit upon the UK’s AML laws and what these changes mean for regulated businesses in the UK.