12/01/2020
British banks to close EU residents’ investment accounts
Several British banks have confirmed that the accounts of investment or wealth management customers in France will close before 2021
Legal,Regulation,Tax & Compliance
12/01/2020
Nasdaq to Advance Diversity through New Proposed Listing Requirements
Companies listed on the Nasdaq Global Select Market and Nasdaq Global Market will be expected to have two diverse directors within four years of the SEC’s approval of the listing rule.
12/01/2020
Second passport demand surges by 50% amid Covid-19 restrictions
While this still remains the case, there’s also been a shift due to the pandemic.
11/30/2020
Covid-19: FCA Handbook Notice No 82
The FCA has published the presentation slides from three forums which it convened to discuss the remedies under consideration in response to the findings of its General Insurance (GI) Pricing Practices Market Study (MS18/1).
11/30/2020
HSBC mulls exit from US retail banking
The bank is planning a coronavirus-induced overhaul of its business model, seeking to shift its main source of income from interest rate to fee-based businesses.
11/30/2020
SocGen Ordered to Return $150 Million of Allen Stanford Ponzi Cash
The Swiss decision marks an important victory in the Stanford liquidators’ battle to recover money the businessman stashed abroad.
11/30/2020
Swiss court orders full access to records for Vatican financial investigation
Vatican prosecutors have been working with Swiss authorities since filing letters rogatory in December last year.
11/30/2020
Are the FinCEN Files dangerous and defamatory?
Those disclosing SARs need to be confident that, when filing them, their data will remain confidential. If not, then they need to have the right to a remedy against FinCEN.
11/30/2020
Finma adds four trading firms to warning list
The list includes companies that might be carrying out unauthorised or unsupervised wealth management and banking services, having provided insufficient or falsified information to Finma, leading to inconclusive investigation results.
11/30/2020
Regulation and the Risks of Implementing Liquidity Limits for Asset Managers
Regulation is necessary and should provide a clear framework for asset managers and suitable protection for investors.
11/27/2020
Burges Salmon head of Private Wealth named Lawyer of the Year
The event celebrates the best advisers and managers in the private wealth sector across the world with the shortlist decided by a judging panel of ten global industry experts.
11/27/2020
Governments should strike a balance between encouraging philanthropy through tax support and ensuring effective public policy
Taxation and Philanthropy reviews the tax treatment of philanthropic entities and charitable donations in 40 countries worldwide.
11/27/2020
GMP Equalisation: Duty Does Extend to BPast Transfers
Our 'Guide to GMP equalisation and how to deal with it' provides useful and relevant background information to the broader issues at stake in the Lloyds litigation.
11/27/2020
Basel Committee amends capital requirements for non-performing loan securitisations
The Committee consulted publicly on the technical amendment in June 2020.
11/27/2020
French draft tax bill for 2020: Nonresident taxation and other provisions
A few provisions are of particular interest for the internationally mobile workforce, in particular the about-face in nonresident withholding reform.
11/27/2020
Broker warns buyers to budget for stamp duty
According to data from Trussle, the average completion time varies across the country, with a median of 96 days in the South East and 166 days in the East Midlands.
11/27/2020
Alan Shearer’s former financial adviser breached order – judge
She outlined her conclusions in a ruling after overseeing a recent High Court hearing, in London, at which Mr Neal was questioned about his finances.
11/25/2020
The Cayman Islands: A jurisdiction of choice for family offices
Dart first considered the question of where to locate its own family office in the early 1990s in order to choose an offshore base of operations for Ken Dart and his family.
11/25/2020
ECB review sees increased medium-term vulnerabilities for corporates and banks
Current extensive policy support is helping euro area corporates and households to cope with the fallout of the pandemic, but risks can arise either from a premature end to measures or from prolonged support.
11/25/2020
Singapore Oil Tycoon Who Founded Hin Leong Denies HSBC's Forgery Claim
HSBC’s suit, filed in late October, came two months after the trader’s court-appointed managers PricewaterhouseCoopers took legal action against Lim and his family for a total of $3.5 billion in outstanding debt.