Managers of Wealth

Cyprus sold passports to criminals and fugitives

A leak of government documents reveals Cyprus sold citizenship to dozens of foreigners linked to crime and corruption.

Credit Suisse: Zero Tolerance, or Both-Siderism?

The case has wider significance for high finance, which still hasn't faced the type of reckoning about women and power as other industries like entertainment and media have.

UBP's Saudi Setback

The Swiss ruling denies an appeal by UBP against Hugh Dickson and Mark Byers, liquidators of Saudi Arabia vehicle Saad.

What Law Firms Can Expect in a ‘Grueling’ Second Half of 2020

They may struggle to retain and compensate their most marketable partners if they can’t bolster their firm’s finances by the end of the year.

MetLife Announces Alliance With Barnum Financial Group

MetLife and Barnum Financial Group have a shared passion for giving people the tools and insights they need to pursue their dreams with confidence.

Fidelity Partners With Amazon on Quantum Computing: Tech Roundup

Also, AssetMark launches eService Team to help advisors.

Withers acts on precedent setting Court application to gain increased powers for trustees

The Court considered the extent to which it can grant powers under s57 where there is no particular contemplated transaction/disposition and where the new power was of a general nature and not directly transactional.

Powerwrap signs wealth boutique

“We are very pleased that Craig and Tim have chosen Powerwrap and we are working closely with them to transition their clients onto the platform.”

Updates to the Cayman Islands Beneficial Ownership Regime

Prior to the Amendments, it was the statutory duty of a Company, if required to maintain a beneficial ownership register, to issue a restrictions notice to its own shareholders or members

Fiduciary arrangements and trust in Luxembourg: new obligations for local and foreign trustees

All fiduciaries of fiducies and trustees of express trusts administered in the Grand Duchy of Luxembourg need to set up an internal file on their beneficial owners.

Chinese Private Bankers to Learn From Julius Baer

Julius Baer said it will provide its management expertise to the institute's academic research in order to help train and educate wealth managers in China.

Ex-Guardian Wealth Qatar CEO hit with fine and ban

But financial hardship and coronavirus see the penalty commuted

HSBC Global AM closes 2nd Vision private equity fund at $260m

The Vision programme was designed in partnership by HSBC Global Asset Management and HSBC Private Banking.

Ruvercap: Wrestling and silence in the “biggest financial fraud” in Switzerland

The company bought tens of millions of francs in receivables and loans for Ruvercap, which in turn were financed by Ruvercap investors.

HMRC collects £120m through ‘plea bargain’ tax evader deals

Law firm expects investigations to rise to pay for cost of coronavirus-related economic assistance

Partnerships to Fight Financial Crime Gain Momentum

A new survey shows the partnerships have produced some promising early results, and compliance officers say it could lead to a shift away from the current “tick-box” approach to anti-money-laundering regulation.

‘Prove where you got your wealth,’ India tells alleged tax dodger

A landmark ruling against the beneficiary of an undeclared Swiss bank account could be a breakthrough moment for authorities hunting hidden wealth.

Federal Council adopts dispatch on amending Collective Investment Schemes Act

This new fund category is aimed at ensuring that, in the future, more collective investment schemes are set up in Switzerland and more of the value chain remains in Switzerland.

Tax evasion: 25% increase in amount collected in UK deals

HMRC receives information automatically under the Common Reporting Standard about financial accounts held by UK residents in more than 100 jurisdictions.

Van Lanschot Kempen to acquire €2bn banking group

This transaction will help us grow our client assets by €1.9 billion.

Legal,Regulation,Tax & Compliance