Managers of Wealth

UK woman tried to fly to Dubai with $2.44 million in cash in five suitcases

Officers searched her suitcases and found the huge cash haul, the largest detection at the UK border so far in 2020.

Foreign wealth management giants poised to tap China’s US$3.7 trillion market as new rules promise to cut risk

Europe’s biggest asset manager Amundi launched its majority-owned wealth management venture in Shanghai recently, becoming the first foreign company to do so

Orwellian or All's Well? The UK tax authority's new powers and family offices

HM Revenue & Customs’ powers to obtain information from financial institutions are set to increase, with the requirement for taxpayer or tribunal approval to be removed. Although not yet in force, the legislation is at an advanced stage and will

Carey Olsen retains best offshore law firm title

Carey Olsen has one of the largest trusts and private wealth teams in the offshore world with 50 partners and associates providing advice on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey and Jersey to local and internationa

Weekly Tax Brief - 6 October 2020

There is a loophole where the regulations do not apply to employees who are contractually entitled to a longer period of notice than the law requires.

Unexplained Wealth Orders: Suspected money launderer gives up £10m of property

Around £10m of property has been surrendered in a major victory against some of northern England's most dangerous criminals.

Dubai's top court dismisses tycoon's $115m damages claim for superyacht

The court ruled that the challenge filed by Russian tycoon Farkhad Akhmedov on the judgements pronounced by two lower courts shall be deemed "groundless".

EBRD Head sets out plan for resilient, “majority green” future

Under the proposed new strategy, on which shareholders will decide today, the EBRD will accelerate the transition to a low-carbon economy.

Carey Olsen advises Nordic Capital on €6.1 billion fund

Working alongside international counsel Kirkland & Ellis

Carey Olsen advises Capvis on acquisition of leading CRM provider

The Carey Olsen team was led by partner Daniel O'Connor with assistance from senior associate Arindam Madhuryya and associate Jordan Zubeidi.

Lugano bank ‘seriously breached anti-money laundering regulations’

The breach is in connection with the handling of Venezuelan client relationships.

New Swiss Laws Provide Solid Ground For Blockchain And Crypto

In short, it mentions every legal requirement for running a cryptocurrency exchange.

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.

Lugano bank ‘seriously breached anti-money laundering regulations’

The breach is in connection with the handling of Venezuelan client relationships.

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.

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.

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.

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.

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.

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

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