Managers of Wealth

Offshore Business Update - Appleby

The purpose of this report is to help our clients better understand what “business as usual” in our jurisdictions* actually means.

Four Carey Olsen lawyers among Channel Islands Top 35 Under 35

Four lawyers from across Carey Olsen's Guernsey and Jersey offices are featured in the 2020 eprivateclient Channel Islands Top 35 Under 35.

Bedell Cristin lawyers named in Channel Islands top young professionals’ list

She is an Advocate of the Royal Court of Guernsey

Malta's registrar given new powers to check beneficial ownership

The Registrar can now also demand that a company hands over any document or information to confirm the beneficial ownership report it has submitted.

Brexit and financial services: finally it’s the final countdown

Banking and capital markets firms currently face two challenges.

Trustees - finding certainty in uncertain times

Those facing the most uncertainty, and risks of claims, may well be trustees of trusts that hold speculative or high-risk assets including investments in small business start-ups, private equity or venture capital funds, and technology companies

Cayman Islands Voluntary Liquidations 2020

Historically, the timing of the commencement of the voluntary liquidation of a Cayman Islands company was often driven primarily by the desire to avoid incurring the following year's annual government fees.

Ireland and Luxembourg: Extension of Reporting Deadlines for DAC6, FATCA and CRS

Ireland and Luxembourg have both announced a six month deferral of the first reporting date under DAC6, the new EU Mandatory Disclosure Regime for certain cross border transactions which carry defined tax hallmarks.

Huge Wine Frauds Uncovered in Europe

Authorities in Spain and Italy break open two alleged fake wine conspiracies, Barnaby Eales reports.

Trustees beware – Changes to UK insolvency regime are now in force

The Act contains the most far-reaching reforms to UK insolvency law in over 30 years.

Switzerland and United Kingdom seek closer cooperation on financial services

With such an agreement, Switzerland and the United Kingdom intend to reaffirm their commitment to the importance of open financial markets and international financial stability, as well as to consolidate their position as the world's leading internat

Russia Steps Up Hunt To Seize Foreign Assets of ‘Putin’s Banker’

Alfa Group hired to track and seize overseas wealth in the latest development in legal battle between the Kremlin and Sergei Pugachev.

No automatic redemptions in a masterfeeder structure

Update prepared by Simon Dickson (Partner, Cayman Islands) and Jaclyn Pascoe (Knowledge Management, Cayman Islands)

The Remote Trustee

Trust Governance Navigating the Global COVID-19 Pandemic

International community continues making progress against offshore tax evasion

The Common Reporting Standard requires countries and jurisdictions to exchange financial account information from non-residents obtained from their financial institutions automatically on an annual basis

Italian FA issues guidelines on players' expiring contracts

This followed FIFA’s adoption, in April 2020, of a document (“Covid-19 Football Regulatory Issues”) authorizing its member associations to extend the season beyond June 30, 2020.

Jersey Private Funds

The JFSC had previously applied a similar proportionate and light-touch approach to very private structures

IRS to Begin Hundreds of High-Net-Worth Examinations in July

These new examinations will be accompanied by a new IRS perspective as to how to effectively, and completely, examine high-net-worth individuals.

Chinese Jeweller Kingold Probed for Historic Fake Gold Bar Fraud

16 billion yuan ($2.3 billion) of outstanding loans are being backed by 83 tons of allegedly fake gold bars.

The effect of the 5th Anti-Money Laundering Directive on the luxury sector

The European Commission (EC) has noted that a globally interconnected financial system has contributed to the ability of criminals, money launderers and terrorists to hide and move funds around the world.

Legal,Regulation,Tax & Compliance