Managers of Wealth

China tightens supervision of online banking wealth management products

Commercial banks have been promoting their online deposit business, which helps improve the efficiency of financial services.

Carey Olsen dominates high yield bond market as it achieves TISE listings milestone

Carey Olsen Corporate Finance Limited offers listing services from both the law firm's Jersey and Guernsey offices.

Swiss Crimefighters Cast Wary Eye on Crypto

A sluggish Swiss response to PDVSA and a stalled revision of money rinsing laws don't bode well for a looming exam. Switzerland's warm embrace of cryptocurrencies add yet another potential avenue for criminals to launder money.

MoUs with European authorities in the areas of securities, insurance and pensions, and banking

The MoUs came into effect at the end of the transition period.

Financial Regulation Update

The FCA has also updated its webpage on transitional directions, and has published a new webpage on onshoring updates to its Handbook and Technical Standards. [22 Dec 2020]

Report: Cyprus Failed to Act Even When Warned of Shady Passport Buyers

A report put together by a committee and released on Tuesday said that even when authorities were in possession of disqualifying details about a candidate, they did not act.

What does the provisional UK – EU trade agreement mean for personal data flows?

The Trade Agreement states that during the Additional Transition Period transfers of personal data from the EEA to the UK will not be considered transfers of personal data to a third country, and as such, will not be prohibited by the GDPR.

BNY Mellon wealth unit’s use of proprietary funds under scrutiny in client lawsuit

In certain accounts belonging to the couple, BNY Mellon-affiliated funds made up as much as 95% of their portfolio, according to the complaint.

A new momentum for ESG in Asia

Sustainable investment has actually been around for a long time, particularly in the guise of socially responsible investing.

The ESG conversation in Hong Kong

The interest in ESG is now a truly global one.

SNB forms audit committee with trade unionist

The results of the review would then be presented to external experts.

Italian Princess to appeal against £2 million contempt of court fine

AN Italian princess and TV star has been fined £2 million for contempt of Jersey’s Royal Court and says she will appeal against the ruling in the latest twist in a decade-long battle over a £100 million family trust fund.

Taxing the Wealthy Is Always Popular

The Commission cited a survey conducted in May this year indicating that 63% of respondents supported a one-off wealth tax on households with assets over 2 million pounds ($2.7 million), excluding homes and pensions.

Behind the LVMH-Tiffany Deal: Insults, Lawsuits and Political Intrigue

LVMH Chairman Bernard Arnault faces the challenge of reviving Tiffany during a difficult time for the luxury industry

Swiss hand over remaining $150 million to U.S. from massive Ponzi scheme

About $50 million had previously been returned, the justice ministry said.

New York’s ‘Son of Sam’ Law Invoked in German Heiress Fraud Scheme

The office filed a lawsuit against Anna Sorokin, saying she shouldn’t get paid from streaming platform Netflix Inc. for a coming television series based on her life story called “Inventing Anna.”

The Key Issues Weighing on the City of London After Brexit Deal

The two sides have said they will look to reach a Memorandum of Understanding around regulatory cooperation by March.

Chinese Banking and Insurance Regulator Releases New Guidelines for the Sales of Wealth Management Solutions by Local Banks’ Subsidiaries

According to local sources, the Regulatory Commission is seeking public feedback or opinion, and aims to protect the rights and interests of Chinese investors while promoting the healthy development of the nation’s wealth management sector.

How will Brexit impact sanctions and money laundering rules in the UK from 2021?

This updated sanction list will comprise of the designations which the UK has chosen to carry over from the EU regimes, as well as those that the UK is obliged to implement under UN regimes.

Global demand for second passports "skyrockets" amid pandemic

Many passports that were previously strong have also fallen from grace, due to their leaders' management of the coronavirus pandemic.

Legal,Regulation,Tax & Compliance