07/31/2020
Leonteq Announces New Partnership with Banque Internationale À Luxembourg
Leonteq and Banque Internationale à Luxembourg SA (BIL) have initiated a partnership for the issuance and distribution of structured investment products.
Legal,Regulation,Tax & Compliance
07/31/2020
Lazard Banker Among Suspects in German Insider Trading Probe
Employee is part of firm’s mergers and acquisitions team
07/31/2020
HMRC ramps up crackdown on high net worth tax evasion
HM Revenue & Customs (HMRC) has ramped up investigations against the wealthy, as it seeks to show its commitment to battling sophisticated tax evasion.
07/31/2020
China to extend grace period for asset management rules to end-2021
The grace period for implementation had been set for the end of 2020.
07/31/2020
Global Guernsey
Rupert Pleasant, chief executive of Guernsey Finance, is a man with a plan to showcase the island’s expertise globally and gain new business from Hong Kong to the US, as Will Green found out when they met
07/30/2020
Not Just For The Ultra HNWI - The Role Of The Family Office In Protecting Your Family’s Current And Future Assets
The best set up will be considered on a case by case basis when factoring in the individuals’ lifestyle, family circumstances, and jurisdictional reach.
07/30/2020
Momentum ordered to compensate Continental Wealth clients
55 complainants had substantial investments in structured notes
07/30/2020
Billionaire ordered to pay £270m to charity after divorce settlement
Sir Chris Hohn told to give money to ex-wife Jamie Cooper’s charity, Big Win Philanthropy
07/30/2020
QNUPS Pensions For Expats Explained
QNUPS stands for Qualifying Non UK Pension Scheme.
07/30/2020
Advisers test new fee models to widen their customer base
Payment based on assets under management is a poor proxy for work done for clients
07/30/2020
INSIGHT: Are Tax Havens Susceptible (Or Immune) To Covid?
These jurisdictions are often included in the list of those favoured by ultra-high net worth (UHNW) families to feature in their global asset holding structures alongside fund managers seeking tax efficient jurisdictions in which to site their private equ
07/29/2020
Barclays sets aside further £1.6bn for bad loans
The board will decide on future dividends and capital returns at the year-end.
07/29/2020
Witnessing Wills in a virtual way: significant changes
The Government plans to introduce the necessary legislation in September, but just issued detailed guidance on the strict procedural rules that will apply to witnessing via video conferencing.
07/28/2020
Lasting Powers of Attorney meet the 21st Century
The new service will allow attorneys/ donors to create an online account once the LPA is registered; they can then add their LPA(s) using a reference number and activation key, which they can then choose to share with third parties.
07/28/2020
The UK fund industry could become a casualty of Brexit
The government has stated that its primary driver is to give UK investors access to a more diversified number of funds, over and above the 2500 UK retail funds that are listed on UK platforms today.
07/28/2020
‘Whatever it takes...’ by Julius Baer
The current stronger momentum in the profit performance of European companies is probably mainly due to regional differences in the handling of the Covid-19 infection cycles and may only be temporary in nature.
07/27/2020
OECD publishes final model reporting rules for sharing and gig economy platforms
A platform operator must report the required information to the tax authority of the jurisdiction in which it is resident by 31 January of the following year.
07/27/2020
€130 million in black money regularised so far in 2020
In the case of funds that are no longer subject to Belgian income tax, because of the time elapsed since they were received, regularisation involves paying a fine of 40% of the value of the capital concerned – up from 39% last year.
07/27/2020
Guidance on making wills using video-conferencing
The Government is introducing legislation to allow people to use video-conferencing technology for the witnessing of wills being made.
07/27/2020
International Initiatives can Convince Tax Havens to Turn Over a New Leaf
Given that some countries which the EU currently identifies as tax havens, such as Panama or the Cayman Islands, have built entire industries out of helping firms avoid the taxman, the prospects of convincing them to clean up their act might seem slim.