Managers of Wealth

Cayman Islands Beneficial Ownership and Enforcement of Fines

Guidance, effective from October 2020, has now been released in the form of a Beneficial Ownership Enforcement Manual

Ogier advises on $1.1 million note issuance and Luxembourg Stock Exchange listing

The Ogier team led by partner Bertrand Géradin and senior associate Sarah Verlende acted as Luxembourg legal adviser alongside Latham & Watkins LLP.

French succession planning

The applicable governing law applies only for succession purposes and does not affect how an estate is taxed

St Kitts and Nevis' Citizenship by Investment Programme Offers Wealthy Americans a Plan B

Americans are looking for a safe and secure route to alternative citizenship offering a Plan B in the face of unpredictability.

Finma grants Gazprombank Switzerland crypto licence

These will include storage solutions and the purchase and sale of Bitcoin.

UK Regulators Fine Goldman Sachs International $126 Million for 1MDB ‘Failures’

The Financial Conduct Authority and the Prudential Regulation Authority said the firm allowed severe misconduct to go unaddressed.

Mishcon de Reya files claim against public nature of EU beneficial ownership registers

The LBR rejected this request and so the claim was filed with the district court in Luxembourg with assistance from Luther S.A., a law firm based in the region.

Company ownership secrecy prevails in Southeast Asia, UN report says

The United Nations Office on Drugs and Crime recommends strengthening reporting of beneficial ownership information across the region to stop dirty money flows.

Vessel Registration in the Cayman Islands

This briefing note summarises the registration process and sets out some of the key reasons for registering vessels in the Cayman Islands.

Withholding tax exemption on banks' too-big-to-fail instruments to be extended for another five years

TBTF instruments are an important tool used by banks to meet regulatory capital requirements. Therefore, Parliament has already exempted the interest on TBTF instruments

Brexit: permanent residents must apply to EUSS by 30 June 2021

From 31 December 2020 all EEA and Swiss citizens and their family members will be subject to immigration control and may be asked to prove their status.

Cayman Islands beneficial ownership enforcement manual

The Registrar has stated that it values voluntary disclosure and any such disclosure will be taken into consideration.

Brexit - The Endgame Approaches

Financial services firms and their counsel entering an important phase as deadline nears

High Risk Wealthy Programme (HRWP)

HRWP provides a different approach to the typical enquiry process

Mozambique Seeks Ex-Credit Suisse Bankers

The trio pleaded guilty to charges in the U.S. last year to charges of bribery and money-laundering.

PIMFA calls for the approval of unregulated financial promotions to be a regulated activity

By making the approval of financial promotions a regulated activity, the Government would be empowering the Regulator and enabling it to take enforcement action on firms that approved unsuitable investments without the necessary expertise or due diligence

Legal,Regulation,Tax & Compliance