Managers of Wealth

TMF Group announces 2020 full year results

TMF Group delivered strong performance in 2020

Egypt, Japan sign MSME facility agreement worth $100m

New facility aims to boost MSMEs to lead Egypt’s economic growth

International Investors Can Now Apply for Bermuda’s New Residency Certificate

To ease the process for prospective EIC applicants, the Bermuda Business Development Agency (BDA) offers a dedicated and personalized business concierge to act as a single point of contact.

Key trends from the boardroom in 2021

This has been further exacerbated by the impact of the COVID-19 pandemic on the financial system, leading to a push by investors for ESG-focused initiatives and an increased emphasis on a company’s responsibilities towards wider society.

The SFDR – get it right from the start

The SFDR has now become a reality, with EU funds and non-EU AIFs marketed within the EU being obliged, as an initial step, to have updated their prospectuses by 10 March 2021, requiring investment managers to classify their fund product into one of three

Buffet of tax-evading secrecy revealed by US settlement with Swiss bank Rahn+Bodmer

This is a global ranking of the countries most complicit in helping wealthy individuals hide their wealth from the rule of law

Private wealth professionals expect increased efforts to tax offshore wealth post-Covid 19, says Intertrust research

More than half of respondents (53 per cent) also said that the pandemic had resulted in clients re-evaluating their objectives and shifting from wealth creation to wealth preservation strategies.

Credit Suisse's Fatal Lack of Humility

It also slashed their dividend to roughly one-third of what it had originally promised and stopped buying back shares.

Tax transparency moves forward as no or only nominal tax jurisdictions first exchange information on the substance of entities

These new annual exchanges cover information on the identity, activities and ownership chain of entities established in no or only nominal tax jurisdictions that are either non-compliant with substance requirements or engage in intellectual property

OECD releases new peer review results on the prevention of tax treaty shopping under the BEPS Action 6 minimum standard

To address this issue, all members of the Inclusive Framework have committed to implementing the Action 6 minimum standard and participate in annual peer reviews to monitor its accurate implementation.

Overcoming complexity and realising opportunity in luxury French property

Against the backdrop of the COVID-19 pandemic, luxury French property remains an attractive investment choice for many high net-worth individuals (HNWIs).

Extension of Annual Financial Crime Reporting Obligation

This policy statement proposes that additional firms and cryptoasset businesses should be brought into scope of the return based on their business activities and the potential money laundering risks.

SEC Charges Pro Athlete Advisor With Fraud

The complaint further alleges that Elstun made unsuitable and risky investments in daily leveraged and/or inverse ETFs that were inconsistent with Elstun's clients' investment objectives and risk tolerances.

PIMFA welcomes FCA Feedback Statement on Open Finance

It is also good to see the FCA views the introduction of Open Finance as we do, through a phased approach that will see Open Banking extended first, with the next stage being to start with products that have the best balance of cost and complexity.

FINMA lifts ban on acquisitions

This decision is based on a status report from FINMA’s mandated auditor

Working group publishes Carbon Reduction Code for built assets sectors

Sustainability experts from the Environment Agency and the HS2 rail project are working with CSIC to help explore and develop the code and to help build wider engagement.

Overcoming complexity and realising opportunity in luxury French property

Although the crisis itself has not directly boosted international demand, it is clear high-end French properties will rarely lose value and continue to be a safe investment option.

Non-fungible tokens: at the UK legal and tax frontier

Is this just another bubble waiting to burst or is it the sign of an important shift in attitude towards the digital world?

Tax haven ranking shows countries setting global tax rules do most to help firms bend them

Leading economists and campaigners from around the world are calling for OECD tax rules to be superseded by a more robust and globally inclusive process at the United Nations

Volkswagen Chasing Former CEO Over 'Dieselgate' Damages

The Dieselgate scandal resulted in a significant drop in sales of diesel Volkswagens worldwide

Legal,Regulation,Tax & Compliance