Managers of Wealth

Implementation of the 5th AML Directive into Luxembourg law

The 2020 Law, which is significant in the context of the FATF’s scheduled on-site visit in Luxembourg, impacts the national AML/CTF framework in a number of key areas.

Regulators Respond To An Unprecedented Confluence Of Events

SS&C Advent is actively working with clients to help them deploy their own contingency plans and alleviate operational challenges.

The Territorial Limitations of the Black Swan Jurisdiction

On 30 March 2020, the Court of Appeal of the Eastern Caribbean Supreme Court (the Court of Appeal) delivered a decision of some practical importance to the practice relating to applications for injunctive relief.

3 Governance, Risk and Compliance Trends to Watch

Data privacy has become one of the top risk areas in 2020.

Charities Registration and Regulation Act 2019

Every registered charity (even small charities) must now have a written governing instrument and the Attorney General must give prior written consent to any amendment to the written instrument (unless it is a foreign charity).

10 Countries Actively Regulating Cryptocurrency Despite Global Crisis

During the past week, two countries approved new cryptocurrency exchanges.

Global Forum: Switzerland scores well

The report was published on 6 April 2020. It noted significant improvements, in particular as regards bearer shares and the efficiency of information exchange in practice.

Covid-19: FCA/PRA SMCR Expectations

The FCA has updated its COVID-19 pensions information webpage to acknowledge that some firms may not be able to avoid a short delay in implementation of the incoming rules on communicating pension information

"How Keeping Lawyers in the Flow Drives Deal Velocity and Pulls Revenue Forward"

Too often, technology meant to keep lawyers operating in this capacity interrupts or distracts them from it.

COVID-19: introduction of practical regulation and considerations in Luxembourg

This reaffirms the importance of providing regulatory reporting in a timely manner, extending the filing of annual financial statements and insisting on the importance for supervised entities to provide virtual or remote access to their employees.

COVID-19 pain kicks in for law firm partners

This is no more keenly felt than in the mergers and acquisitions departments of the biggest firms, which rely on such big-ticket work to boost profits.

Finma finds Anti-Money Laundering Act breaches at over 10 initial coin offerings

Finma has also started enforcement proceedings against a firm for unlawafully receiving public desposits and another for illegal securities trading with tokens.

Arron Banks fails in effort to use European laws to avoid £162,000 tax bill

HMRC says millionaire owes money for inheritance tax liability on Ukip donations

Butterfield shuts its branches over Covid-19

Restrictions, including social distancing, will be in force today.

Federal Council aims to strengthen Swiss debt market through tax reform

This will enable corporate groups to issue their bonds in Switzerland without withholding tax hurdles.

COVID-19 Governance: Proposed changes to English insolvency law

As ever with emergency legislation intended to respond to a particular crisis, the Government will wish to ensure that any legislation does not give rise to unintended consequences

EU regulators issue money laundering warning as criminals adapt to Covid-19

The authority singles out international trade as a potential risk area.

A quarter of bosses have yet to address staff directly on Covid-19 crisis

UK CEOs shun video conference systems and opt for email updates as millions turn to remote working to do their jobs, according to a major new report into how large and medium sized companies are operating during the pandemic

Luxembourg Pulls out the Stops to Battle Coronavirus

The association of CEOs has been mobilized, as well as six banks

Malta FSA hands deVere €23k fine

The company now has thirty days to lodge its appeal.

Legal,Regulation,Tax & Compliance