Managers of Wealth

Mirabaud Surfaces in Venezuelan Scandal

Mirabaud held at least $4 million for Abraham Shiera, a Venezuelan businessman who was indicted on conspiracy and corruption charges by U.S. prosecutors in connection to the oil scandal.

FINMA Launches Enforcement Proceedings Against Credit Suisse

The bank’s chief operating officer Pierre-Olivier Bouée was fired from Credit Suisse in October 2019 after admitting he personally ordered the surveillance to protect the bank’s interests.

Britain leads exodus of wealthy citizens abandoning home for rates relief from Rome

Britons are leading the charge to take advantage of the scheme, with 78 leaving the UK for Italy since the tax break was introduced in 2017.

Rui Pinto Football Leaks trial starts in Portugal

Rui Pinto's house arrest was lifted last month

Private Bank Freezes Angolan Money

Geneva's prosecutor is pursuing an Angolan businessman suspected of money laundering. Banque Syz has frozen hundreds of millions as a result of the investigation.

Finma opens enforcement case against Credit Suisse

The proceedings come after an auditor hired by Finma in December 2019 completed its investigation into Credit Suisse’s corporate governance practice.

Building a level playing field - how innovation shapes regulation

Through innovation and new technologies, the regulator can help shape and create inclusive institutions, and provide a foundation for firms to provide positive outcomes for consumers and markets in the UK.

Finma opens enforcement case against Credit Suisse

The proceedings come after an auditor hired by Finma in December 2019 completed its investigation into Credit Suisse’s corporate governance practice.

Convicted billionaire Ng Lap Seng sued over $1.9 million legal bill

The Law Firm of Hugh H. Mo on Monday sued Ng in U.S. District Court in Manhattan, alleging that Ng “simply failed and refused to pay” $1.9 million in fees, plus interest and other legal costs.

Highlights of the Mauritius Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) (Miscellaneous Provisions) Act 2020

Companies registered in Mauritius were already required to disclose information on their beneficial owners

Ruling the waves or waiving the rules? The UK’s options for regulatory reform and competitiveness after Brexit and COVID-19

Reforms to wholesale markets may attract less political scrutiny, but are more likely to be international in nature.

Snowden to Testify in Defence of Creator of Football Leaks

Portuguese prosecutors have said the compilation of the Football Leaks data

Changes to Guernsey's beneficial ownership regime

The States of Guernsey has approved proposals to amend the legal framework relating to beneficial ownership.

Switzerland freezes Angolan tycoon’s $900 million fortune

Carlos Manuel de São Vicente, the former CEO of a company with a lucrative government monopoly to insure Angola’s oil sector, had his bank accounts frozen on suspicions of money laundering.

Credit Suisse tackles fallout from wealth management fraud

Banker who forged papers on contract fired, deception led to loss of about $15m: Sources

Barclays boss Jes Staley is dragged into the hunt for Jeffrey Epstein's cash

There is no suggestion of any wrongdoing on the part of Mr Staley, or that he knew anything about Epstein's criminal activities.

Swiss economist says Covid-19 ‘winners’ should pay more tax

Companies that netted their best-ever earnings during the coronavirus crisis should be subject to extra tax, finds one of Switzerland’s top economists.

UK’s financial regulator expands AML regulations to all cryptocurrency firms

The FCA had plans to implement data analytics to alleviate the regulatory approach and overcome the issues enterprises face.

Should Whistleblower Reward Laws be Capped?

Under this “soft” cap, if the SEC obtained over $300 million in sanctions from a fraudster, the whistleblower whose information triggered the enforcement action would be presumptively limited to the lowest percentage award (i.e., a 10 percent

Finma adds investment platforms to warning list

These are the latest companies which the regulator believes have supplied insufficient or false information.

Legal,Regulation,Tax & Compliance