Managers of Wealth

Freshfields lawyer sent list of concerns over her conduct in UBS rape case

UK’s Solicitors Regulation Authority reviewing complaint that Caroline Stroud did not make bank relationship clear

CMTA tests decentralised trading with five banks including Vontobel

SEBA Bank, Sygnum Bank, Arab Bank (Switzerland) and Hypothekarbank Lenzburg also took part in the test.

Ex-UBP Banker Accused of $100 Million Theft

The banker’s clients accuse him of stealing as much as 100 million Swiss francs ($109).

NatWest to 'reconfigure' Coutts' HQ as it plans 800 job cuts

The banking group is targeting 550 full-time redundancies across branches and its top-earner service, but says none will be compulsory.

Fit and Proper - How to Manage Employee Breaches if You Are a Regulated Business

At all times, the employer will need to weigh up the competing requirements of the regulatory and employment regimes in Jersey.

UCITS can no longer invest in loans

This new position is the result of a detailed eligibility assessment of loans by the CSSF, and reflects discussions held at ESMA level as well as the regulatory practices of other EU Member States.

Third supervisory organisation authorised by Finma

Two other supervisory organisations were granted licences in July.

Surcharge sees foreign buyers move on London stamp duty hotspots

For foreign buyers making their move now, this means an additional £24,006 saved in Stamp Duty Land Tax in addition to the sum already wiped off by the stamp duty holiday.

Over 100 advice firms currently under investigation

UK regulator says that cases are not ‘solely confined to concerns about potential misconduct’

Withers lawyers prominent in American Bar Association RPTE leadership appointments

We are proud to announce that several of our Withers attorneys were appointed to leadership roles for the upcoming bar year.

Mauritius Issues Regulations Under the Mauritius Insolvency Act 2009

On 21 July 2020, the Minister of Finance, Economic Planning and Development issued the Insolvency (Extension of Time During COVID-19 Period) Regulations 2020 (Extension of Time Regulations) under the Insolvency Act 2009 (Insolvency Act) (GN 163 of 2020).

Dirty money law to give State power to seize luxury assets without criminal conviction

Law will empower Asset Recovery Bureau to confiscate assets acquired through criminal means without criminal conviction

Police recover £3m after wealth manager boss’ Ponzi-scheme

The case was referred to the police by the FCA after the regulator became suspicious of HBFS’ bank accounts.

Business as usual for Covid-free Guernsey

We frequently state that Guernsey is a great place to live and to do business.

Liechtenstein’s Union Bank decides to liquidate

Media reports have linked the bank to criminal activity.

Barclays probed by privacy watchdog over reports of spying on staff

The UK’s data and privacy watchdog said a formal probe is ongoing, but could not say when it may conclude.

HMRC investigating 246 players and 55 agents over tax avoidance with image rights

World class footballers and top agents are being probed by HMRC regarding image rights deals used to avoid tax, and the number being investigated has soared since 2019

Hong Kong Haven Status Undermined by Swiss Shift

The precious metal recently rallied past $2,000 per ounce on pandemic and inflation fears and is expected to keep rising.

Carey Olsen supports Tembo Capital on latest mining fund launch

These opportunities may include exploration ventures, near term production ventures, royalties, operating mines, infrastructure of metals and mining projects, and services associated with the metals and mining sector.

Wolfsberg Group Issues Guidance on Source-of-Wealth, Source-of-Funds Checks

In line with regulatory expectations, FIs should adopt a risk based approach with respect to the amount of information collected, and corroboration required, for SoW/SoF purposes.

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