Managers of Wealth

L&T to wind up West Asian wealth management unit after InCred deal collapses

The shutdown of the unit will have little impact on L&T Finance as the business accounts for barely 0.1% of its consolidated income and net worth.

UK Government welcomes announcements by eight Overseas Territories to tackle illicit finance

Foreign Secretary welcomes the move by the Overseas Territories as a major step to improve corporate transparency.

UK tax gap increases for wealthy individuals but record low for large businesses

HMRC has a real focus on domicile and residence of high net worth individuals at present, and believes it is missing out on tax that should be paid by internationally-mobile executives.

Harneys recognised as “the obvious choice” in Chambers HNW Guide 2020

Another offshore source noted “they are a very reputable firm and you know you will be in good hands with them; they are a very well-known name in the offshore world and carry real clout."

Appleby Receives Hig Rankings in Chambers’ Annual High Net Worth Guide

In the Guide the firm is highlighted as a “fantastic organisation” that acts as “protectors and administration advisors on trusts,” giving “consistent advice and service.”

CIBC to Issue NVCC Subordinated Debentures

The Debentures will be issued in Canada and sold through a dealer syndicate led by CIBC Capital Markets.

Court ties dos Santos to ‘fraudulent’ diamond deal as Portugal further freezes out billionaire

An Angolan court says the deal between the country’s diamond company and Isabel dos Santos’ husband was harmful to average Angolans.

Ogier's Private Wealth team in Guernsey "an obvious choice for high-value trust work"

Chambers interviewees say Gavin is "a very good lawyer" with "a very good reputation" and "well known for being great with clients".

Dipping into 'charity jar': Rich US firms approved for gov't aid

Some wealthy families' investment firms received relief loans meant for small businesses hit by coronavirus pandemic.

Sunak's Solution to LIBOR Transition in 'Tough Legacy' Contracts

Institutions should not rely on the FCA’s powers to solve the issue of LIBOR transition where they can agree replacement reference rates that are commercially acceptable in particular transactions.

Sky faces costs burden after bad faith trade mark registrations

The costs order was imposed by the High Court in London in part to sanction Sky for partially registering trade marks in bad faith.

Coronavirus: FCA tells firms to keep supporting customers

Customers that have not yet had a payment freeze or reduction, or an arranged interest-free overdraft of up to £500 and experience temporary financial difficulty, due to coronavirus, can request such temporary support up until 31 October 2020.

Wealth planning in the UAE: trust or foundation?

Under common law, a trust is not a legal entity in its own right.

58 foreigners bought Maltese passport without presenting birth certificate’

Karol Aquilina says this is testament to ‘fake due diligence’ in place

Switzerland and Liechtenstein sign protocol of amendment to their double taxation agreement

The cantons and the business circles concerned have welcomed the conclusion of the protocol of amendment.

SJP puts five funds on ‘watchlist’ after value assessment

UK & General Progressive and UK Growth, both managed by Majedie, had underperformed their benchmarks.

He flaunted private jets and luxury cars on Instagram. Feds used his posts to link him to alleged cyber crimes

By Faith Karimi, CNN Ramon Abbas flaunted a lavish lifestyle of private jets, designer clothes and luxury cars.

Marktplace and online platforms: new rules from the EU

The focus of the new regulation is the relationship between business users and online intermediation services (marketplaces) and search engines.

Kobre & Kim, Robin Rathmell Receive Chambers Recognition for Financial Crime Involving HNWI’s

Of the firm’s services, one commentator told Chambers: “I have never seen such high-level work, strategic thinking and speed in a law firm.”

FCA targets scammers using Trump Building to clone Swiss AM

UK regulator issues warning to investors over unauthorised activities emanating from the US.

Legal,Regulation,Tax & Compliance