Managers of Wealth

Guernsey legal and regulatory update

Guernsey's Revenue Service has introduced an online service for companies completing and submitting their corporate tax returns.

Working Through the Lockdown

In both social and business environments this is a community event being faced as a community.

COVID-19: Countrywide lockdowns make AGM attendance tricky - but what are the rules?

Lockdowns will make things more complicated for leaders preparing for their AGMs, but there are a number of options, depending on which country you are in.

COVID-19: FCA updates webpages on short selling bans, SCA, and information for firms

The International Association of Insurance Supervisors (IAIS) has published the March edition of its newsletter.

The Art Market Adjusts: The impact of the government's decreased oversight of private sale of antiquities and other artwork

My colleagues, Kenley Stark and Georges Lederman, discuss the impact of the coronavirus on the Government’s regulation and enforcement of laws concerning the art market.

Finma to reduce capital relief to banks approving shareholder dividends

The measure applies until 1 July, but can be extended if necessary.

Regulatory measures for firms in response to Covid-19

The PRA welcomes the decisions by the boards of the large UK banks to suspend dividends

The Art Market Adjusts: Protecting consigned artworks from creditors

As a result, in certain states, artists consigning their own works of art to galleries for sale will not have to file a UCC-1 Financing Statement as collectors do.

HMRC to raise standard of conduct among tax advisers

The government has confirmed that it will implement all but one of the recommendations made by Sir Amyas Morse in his review of the loan charge rules.

Governors and Heads of Supervision announce deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19

The implementation date of the Basel III standards finalised in December 2017 has been deferred by one year to 1 January 2023.

HMRC Official Rate of Interest (ORI) reduced

ORI to reduce from 2.5% to 2.25% from 6 April 2020

Noah Singapore granted Capital Markets Services licence

The firm states that it is actively expanding its global footprint and has established a strong presence with offices in Hong Kong, Jersey, New York, Silicon Valley, Vancouver, Melbourne, and now Singapore.

Putin’s Tax Hikes Compound Pandemic Angst for Wealth Managers

Some advisers say buy now, while others warn of double bottom

Coronavirus: Stay Tuned – Hong Kong to resurrect Chapter 11–style corporate rescue bill

The major drawback is the lack of a statutory moratorium of legal claims against the company, and any creditor not contractually bound could petition to wind up the company and derail the restructuring efforts.

SIX Group’s Offer To Acquire BME

The Linklaters team was led by Victor Manchado

Coronavirus: FCA summons council of war

With comparisons moving beyond the 2008 financial crisis to the 1930s, Woolard has been at the heart of efforts by policymakers to quell the economic impact of the virus, which has caused tens of thousands of deaths around the world.

The marketing of EU funds into the UK Post-Brexit: The Death Knell for the UK funds industry?

If the UK Government insists on allowing EU funds to continue to be marketed without reciprocal passporting, this could be the beginning of a gradual demise for the UK funds industry.

Sanlam freezes fees for large firms as hike goes ahead

The adviser also questioned how Sanlam intended to work with its ARs who will struggle financially in the next few months as this has not yet been communicated.

FCA tells advisers to work from home

This statement applies to all FCA-regulated firms across the UK, including in Scotland, Wales and Northern Ireland.

Legal,Regulation,Tax & Compliance