Managers of Wealth

Snapshot: bearer share companies in the British Virgin Islands

Regulatory reforms to improve corporate transparency and crackdown on white collar crime prompted most offshore jurisdictions to reform their bearer share regimes.

IQ-EQ receives regulatory approval to acquire Concord Trust Company

This strategic transaction is the first for IQ-EQ in the U.S. Private Wealth trust space, and a signifier of IQ-EQ’s future intent within the U.S. Private Wealth market.

Former Coutts employee jailed for his part in £1.2m scam

Private bank worker passed on customers’ security details to organised crime gang

Global life insurer admits it helped US citizens hide $1.45bn

Swiss Life Holding AG, Swiss Life (Liechtenstein) AG, Swiss Life (Singapore) Pte. Ltd., and Swiss Life (Luxembourg) S.A. Enter into Deferred Prosecution Agreement for Criminal Misconduct; Agree to Collectively Pay More than $77 Million

Cyprus files first prosecution in passports scandal

Parliament speaker Demetris Syllouris and an opposition MP were secretly filmed allegedly trying to facilitate a passport for the fugitive investor.

Pimfa chief: New post-Brexit regulation supports FSCS reform

UK firms will not have to implement the IFPR until January 2022, unless they have a European base or subsidiary.

Hong Kong offers HK$1 million incentive to jump-start open-ended funds

Scheme seeks to boost city’s position as investment gateway to China’s GBA

Rogue branch lawsuit prompts Morgans payout offer

The settlement offer, revealed by The Australian Financial Review, follows Morgans’ own internal investigations having raised alarms about the branch.

Swiss Lawmakers Want to Weigh in on Credit Suisse

The central question is whether regulation of major banks needs to be tightened,» she told the Swiss weekly.

Swiss Lawmakers to Debate Stricter Banking Regulations, SZ Says

Lawmakers have to weigh possible tighter rules for risk management, the provision of capital buffers and remuneration policies, Prisca Birrer-Heimo, a councillor with the Social Democratic Party, told SZ.

Credit Suisse under growing pressure to compensate clients over Greensill

The collapse of the supply chain finance firm has hurt more than 1,000 of the bank’s customers

Swiss Life Settles U.S. Offshore Tax Probe

The recovery...sends an unequivocal message that offshore evasion is still a high priority of Internal Revenue Service Criminal Investigation

Road to Recover Class Action Proceeds Grows More Complex for Investors, Broadridge 2021 Global Class Action Annual Report Highlights

The Broadridge Global Class Action Annual Report offers an in-depth analysis of the 10 most complex class action recovery opportunities from 2020 involving financial instruments.

GFSCommission’s 2020 Annual Report

Much of the key policy work undertaken last year was designed to assist industry

Fears of ‘significant deterrent’ for whistleblowers as top EU court quashes Lux Leaks case

The European Court of Human Rights ruled that Luxembourg’s treatment of whistleblower Raphael Halet “struck a fair balance” between protecting his freedom of expression and the rights of PwC, despite objections from two dissenting judges

PIMFA welcomes FCA proposals to enhance consumer protections but warns against unintended consequences

o that end we agree with the Financial Conduct Authority (FCA) that ensuring a high level of protection is a key part of ensuring consumer confidence.

Simplifying the VAT Land Exemption

The consultation represents an opportunity for clients to make representations to HMRC to simplify this area and it is perhaps an opportunity for the UK government to use the post-Brexit VAT landscape to make more use of the zero-rate to assist the govern

Legal,Regulation,Tax & Compliance