Managers of Wealth

Financial Regulation Update

The FCA will supplement the evidence from its review with feedback to its Call for Input (CfI) on consumer investments

Two Steps Forward, One Step Back: The Limits of New Standards on Assessing WMD Financing Risk

At its recently concluded October plenary, the FATF adopted language into its standards that now requires countries – as well as private sector actors – to understand and assess their PF risk, and tailor their counter efforts accordingly.

Federal Council decides on further development of financial market policy: leading worldwide, rooted in Switzerland

Along the three key thrusts "innovative", "interconnected" and "sustainable", the Federal Council has defined concrete areas of action for a future-proof Swiss financial centre.

Call for probe into 'missing' £50bn of UK cash

The issue was first identified by the National Audit Office (NAO), which highlighted it in September.

Asset management industry ‘not doing a good job’ on diversity, says SEC chief

Outgoing chairman Jay Clayton calls for change to share economic benefits more equally

Beneficial Ownership Transparency: a Spotlight on International Beneficial Ownership Registration

The recommendations made to the G20 reflect a growing trend at an international level to enhance transparency in beneficial ownership.

Quilter latest to scrap VAT from managed portfolio service

Based on existing guidance and external advice, Quilter said it was now treating its MPS as VAT exempt.

Ardan International implements Financial Risk Solutions (FRS) tech to grow wealth management business

Ardan International, an Isle of Man-headquartered wealth management provider, has adopted Financial Risk Solutions (FRS) technology for its newly launched tier-one wealth management platform.

From nuisance to enabler: why compliance can be your best weapon

Despite the ongoing headline litany of data breaches and security compromises, there’s still a misconception that compliance is no more than a necessary evil.

Stephenson Harwood advises Schroders on British Opportunities Trust launch

The Stephenson Harwood team was led by partner Alex Haynes, who was supported by senior associate Carolyn Hall and associate Daniel Whalen.

HMRC targets individuals in latest offshore undeclared tax drive, says accountants Mercer & Hole

But this time around it is being more direct suggesting that it has information that could result in criminal offences or prosecution for individuals if they do not act.

USA and Monaco agreed on Tax Exchange reports

The agreement was signed by the US IRS’s Douglas O’Donnell and Monaco’s Minister of Finance and Economy, Jean Castellini.

Blown the budget on a Ferrari? Bad news… it’s just a car

The trade mark Testarossa is registered in the EU for a broad specification of goods, covering motor cars and motor car parts.

Finma adds Zug family office to warning list

Companies are added to the warning list by Finma because they have either not provided sufficient evidence to the regulator, or the evidence that they have provided is false.

Goodwill Hunting: The Value, Protections and Role of Intangible Assets in M&A Transactions

From the very beginning of a proposed transaction, both buyers and targets must consider which covenants should be added to protect the target’s goodwill and its other intangible assets.

Governors and Heads of Supervision commit to ongoing coordinated approach to mitigate Covid-19

The timely measures pursued by the Committee at the start of the pandemic and the GHOS's agreement to revise the implementation timeline for outstanding Basel III standards added to the unprecedented range of fiscal and monetary support measures that

FCA clarifies notification requirements under UK EMIR

EU market participants will be able to use benchmarks administered in a country outside the EU until the end of 2023.

Strengthening the international financial system: Switzerland applying IMF's SDDS Plus

The Federal Council had decided in 2015 to adopt the new standard and initiate its implementation.

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

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.

Legal,Regulation,Tax & Compliance