Managers of Wealth

'Guernsey must continue to be one of the good guys'

Unpicking details of these strands, he says: ‘We should be seen as one of the world's serious wealth management centres.

Transfer pricing implications of the COVID-19 pandemic: New OECD guidance for tax administrations and business

The pandemic has also led to the unprecedented growth of government assistance programmes, leading to questions around the factors that should be evaluated to determine whether receiving government assistance may affect transfer prices.

FCA introduces rule to enhance climate-related disclosures

The rule will apply for accounting periods beginning on or after 1 January 2021

FCA fines Charles Schwab £9m for safeguarding failures

Charles Schwab UK failed to get the correct permissions from the FCA; then failed to be open with us and, finally, failed to put in place the necessary safeguards to ensure, if required, there could be an orderly return of client assets.

UK tax evasion prosecutions fall by half in 5 years

Critics question HMRC’s strategy considering the billions lost to fraud each year

Ledger users threaten legal action after hacker dumps personal data

A cybersecurity expert claimed the affected users would be targeted online and in person now that their personal information had been made public.

Financial Regulation Update

For the UK, this decision will apply from 19 December 2020 until the end of the transition period

FCA responds to independent reviews into its regulation of London Capital & Finance and Connaught

The FCA has accepted the nine recommendations addressed solely to the FCA in the LCF Review and the five lessons identified by the Connaught Review.

Irish Investment Limited Partnership

The Bill introduces a number of important changes which aim to position the ILP as a leading EU fund vehicle for private equity, sustainable investments and closed-ended alternative funds.

Israeli Billionaire Sentenced to Five Years for Bribery

Steinmetz, along with Israeli media consultant Tal Silberstein, was given a five-year sentence, overturning a lower court decision to acquit both in 2019

Postfinance is asking even more customers to check out

How the customers will accept this remains to be seen.

World Bank Admits and Corrects Rating Revisions

The review also featured other errors for the 2020 report released in October 2019 including the ranking of Saudi Arabia as the top improving economy; placing Azerbajian amongst the top 10 improvers; and inflating the United Arab Emirates’ score.

The CSSF Releases Updates on the Implementation of ESG Fast Track Procedure for Disclosure Updates

The sustainability risk assessment approach and related disclosures feed into UCITS prospectus

Credit Suisse professes "astonishment" at Swiss money laundering charges

Credit Suisse unreservedly rejects as meritless all allegations raised against it and is convinced that its former employee is innocent.

Performance Fees – Central Bank takes initial steps towards implementing ESMA’s guidelines

While the Central Bank notes that the Guidelines could be immediately adopted

Leading law firm for 6 areas in 3 jurisdictions in Chambers Asia Pacific 2021

This recognition is a testament to the continued support from our clients and contacts who have taken the time to give thoughtful feedback.

Proposals for a UK wealth tax

The report suggests that a one-off wealth tax should include all assets worth more than £3,000, valued at their open market value.

Which are the best Golden Visas to beat the Brexit roadblock

Acquiring UK citizenship will take investors between five and six years but for UK investors looking to maintain their EU status, there are some options that can provide residency or citizenship far quicker.

New guidance from Guernsey Finance will make it easier for family offices to embrace sustainable investing

Ogier has collated a series of illustrative clauses which can be implemented into a trust deed between a family and their family office.

Bulgarian criminal organisation: indictment filed against organisation members and Credit Suisse

To summarise the position, Credit Suisse AG in Zurich is thus accused of failing to take all the reasonable organisational measures that were required to prevent the offence of aggravated money laundering (Art. 305bis no. 1 and 2 SCC in conjunction with A

Legal,Regulation,Tax & Compliance