Managers of Wealth

FSCS hits £20m milestone on LCF payouts

The FSCS has increased the size of the team reviewing LCF claims by almost 80 per cent as it pushes to complete the process by December, following delays this summer.

GFSC review shows Guernsey firms’ positive record on source of funds and source of wealth

Babbé Senior Associate Elena Gogh discusses a positive report on anti-money laundering practices in Guernsey by the Guernsey Financial Services Commission.

FCA open-ended funds review survey

During the coronavirus crisis, consumers may find themselves needing access to their savings in accounts with restrictions on access.

Bankers, lawyers on board for IOOF’s tilt at MLC Wealth

Investment bank Citi and law firm Allen & Overy are helping IOOF with its bid for National Australia Bank’s MLC Wealth.

Further review of IHT by the APPG

The APPG paper proposes comparatively radical reforms to a system that it describes as having been criticised as complex, ineffective, riddled with anomalies, distortionary and unfair, unpopular and ripe for reform.

Migrating A Company Out Of Guernsey

Just like a person, a company can change its nationality.

Mourant contributes to Chambers Global Private Wealth Guide

Our International Trusts & Private Client practice brings together contentious and non-contentious work in a genuine "one-firm" approach

Ireland Update – Use of Electronic Signatures on Regulatory Documents and Forms

The Central Bank advised that it reserves the right to request a "wet ink" signature where the Central Bank deems it appropriate.

Federal Council adopts dispatches on new double taxation agreement with Bahrain and amendments to DTA with Kuwait

The new DTA with Bahrain in the area of taxes on income and capital improves matters for cross-border investments.

Bank employees association asks CS to freeze layoffs

In a statement, ASEB said the bank should pause layoffs at least until the end of the year.

Switzerland looks to attract Alternative Investment Funds

It is expected that the bill will be presented to Switzerland’s parliament for discussion later this year and will not come into force before 2022.

Update on the Cayman Islands' economic substance framework

This detailed guidance was welcomed by the industry as it has given greater certainty to those businesses whose operations were potentially in scope.

Chyknell Hall: Sleepy hamlet wakes to royal scandal

Chyknell Hall near Bridgnorth has taken centre stage in the drama thanks to its prominent yet elusive resident

Billionaire’s Malta assets under worldwide freezing order after Turkey coup arrest

Shipping mogul Mübariz Mansimov, arrested over Turkey coup and alleged Gulen links, has shipping empire based in tax-friendly Malta

Ex-Chelsea manager fights to recoup €30m lost to ‘scam’

Italian financier claimed his investment scheme was backed by HSBC

Belgian Tax Probe vs Credit Suisse Advances

Last year, HSBC's Swiss arm paid 300 million euros ($354 million) to settle a similar probe in Belgium.

Offshore structure with online operations in Hong Kong in the digital age – walking a thin line?

Typically, the offshore entity carries on business by way of a fully automated system, while its Hong Kong affiliate provides technical support, such as upkeep and adjustment of its proprietary software, and is remunerated on a cost-plus basis.

Withers is proud to help close the digital divide in New York City

Withers has partnered with the New York City Bar to help educate New Yorkers about this issue and urge the City to include and prioritize homeless shelters in its plan to expand broadband internet access for low-income New Yorkers.

Blockchain moves from promise to reality

Deloitte's 2020 Global Blockchain Survey

The Quiet Man in Stockholm Who Laundered China’s Oil Money for Iran

Unlike Zarrab, Nema has faced no charges for helping Iran evade sanctions.

Legal,Regulation,Tax & Compliance