04/27/2021
Coutts sex claims banker launches firm with Prince Andrew
Prince Andrew has launched a private office investment business alongside a former top Coutts banker who resigned following an alleged sexual harassment scandal.
Legal,Regulation,Tax & Compliance
04/26/2021
International fight over tax revenue jeopardizes Switzerland’s attractiveness as a location
KPMG expects to see another, albeit moderate, tax cut in the next few years since some cantons have not yet implemented all the tax reductions that were provided for within the scope of the Corporate Tax Reform TRAF.
04/26/2021
Financial Regulation, Transparency, and Compliance: Switzerland in the top tier yet again
Given the importance of the banking sector for countries like Switzerland or the UK, the index documents and highlights efforts and developments relative to other financial centers.
04/26/2021
The European Commission Unveils New Sustainable Finance Package
The package focuses on material sustainability reporting and disclosure obligations, as the EU looks to direct capital toward sustainable activities.
04/26/2021
Woodford sets up in Cayman after Jersey backlash
JFSC Director General Martin Moloney then ramped up the regulatory rhetoric, launching what the Financial Times described as a “blistering attack” on Mr Woodford’s plans
04/26/2021
Swiss bank pays up to settle German tax evasion probe
A long-running dispute with Germany is fading now that both countries and others automatically exchange data about bank accounts.
04/23/2021
UK Footballers and their agents face increased tax bills as HMRC clamp down on perceived tax loophole
The element of the payment which is made on behalf of the player will be treated as taxable income of the player as a ‘benefit in kind’.
04/23/2021
Credit Suisse: FINMA opens proceedings in “Archegos” case and confirms ongoing proceedings in “Greensill” case
FINMA will investigate in particular possible shortcomings in risk management. FINMA will appoint a third-party agent to investigate the matter at the bank.
04/23/2021
Heirs to German Industrial Fortune Face $6 Billion Tax Bill
Payment may be largest in German history, magazine reports
04/23/2021
US President to 'propose hiking tax on rich'
The plan would also nearly double taxes on capital gains to 39.6% for people earning more than $1m.
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
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.