10/06/2020
HSBC and UBS: Still more dirty deals by big banks
The bank is no stranger to such allegations, having squandered its reputation in a string of lawsuits brought against it for allegedly laundering $881 million for Mexican drug cartels.
Legal,Regulation,Tax & Compliance
10/06/2020
Lugano bank ‘seriously breached anti-money laundering regulations’
The breach is in connection with the handling of Venezuelan client relationships.
10/06/2020
EU list of non-cooperative jurisdictions for tax purposes: Anguilla and Barbados added, Cayman Islands and Oman removed
The EU list of non-cooperative jurisdictions for tax purposes was established in December 2017.
10/06/2020
Walkers Acts on Delta Airline's US$6 Billion Loyalty Programme Financing
The Delta deal follows in the footsteps of a the world's first financing transaction utilising a US airline's loyalty program, on which Walkers also acted as Goldman's Cayman counsel.
10/06/2020
FCA Bans the Sale of Crypto-Derivatives to Retail Consumer
These features mean retail consumers might suffer harm from sudden and unexpected losses if they invest in these products.
10/05/2020
JFSC warns investors to be cautious in times of crisis
Many islanders won’t consider themselves investors but anyone who has a bit of money put aside and needing to make a decision about what to do with it is an investor.
10/02/2020
Former Swiss bankers plead guilty in U.S. tax evasion case
The trio had been indicted in 2012 alongside the bank itself on allegations of shielding $1.2 billion from U.S. taxes, but prosecutors agreed to the lesser charge in March.
10/02/2020
PIMFA urges Regulator to work more closely with industry to rebuild levels of trust in fair FSCS outcomes
Results from the survey revealed the extent to which the FSCS is putting firms under increased financial pressure
10/01/2020
FCA calls for tougher measures to tackle online scam ads
It is clear there is now mounting pressure on the government to take steps to tackle the promotion of scams through search engines and social media platforms.
10/01/2020
FCA extends pause on Mifid 10% rule
The FCA intends to apply the TTP on a broad basis from the end of the transition period until 31 March 2022.
10/01/2020
Degroof Petercam and Avaloq ink agreement
This new solution will transform Degroof Petercam’s IT platform and better position the institution for growth and new opportunities.
10/01/2020
Landmark decision approving third party litigation funding in the British Virgin Islands
Given the large number of relatively small creditors and the lack of available funding in the estate, the liquidators turned to the commercial third party funding market to meet their anticipated costs and expenses, including the costs of prospective liti
10/01/2020
Does dirty money need banking secrecy to thrive?
Recently uncovered suspicious transaction reports, made to the US Financial Crimes Enforcement Network (FinCEN), show Swiss banks moving billions of dollars around the world.
10/01/2020
Swiss Bank Ensnared in Venezuelan Graft Probe
The activity has been carried out at the bank’s offices and has been having a significant impact on the overall costs for the year
09/30/2020
JP Morgan Chase admits to US market manipulation and agrees to pay $920m
‘Spoofing’ practice illegally affected futures and metals market
09/30/2020
Weekly Tax Brief - 29 September 2020
Property sales are on the rise
09/29/2020
The Art of Giving: UK tax incentives for owners of art
Generally, these tax incentives apply to assets which are considered pre-eminent.
09/29/2020
Trump's reported tax methods would be par for the course for the rich, experts say
It’s not something cooked up in some law firm, it’s something Congress devised,” he said of the tax breaks enjoyed by the real estate sector and investors with capital gains.
09/29/2020
Irish Government approves amendments to Investment Limited Partnership Bill 2020
Irish ministers approved legislative plans last week aimed at enhancing Ireland’s regulatory environment in international financial services.
09/29/2020
SEC Issues $1.8 Million Whistleblower Award to a Company Outsider
Marks 100th Individual Awarded Under Whistleblower Program