Managers of Wealth

Cayman Island Private Funds Law, 2020

On 7 February, the Cayman Islands Government published the Private Funds Law, 2020 and the Private Funds Regulations 2020.

Potential Problems For Clients Fleeing High-Tax States

Wealthy taxpayers in high-tax states are considering moves to Arizona, Florida, Texas, Nevada or Tennessee, among others.

Crypto firms added to Finma warning list

The latest companies to submit insufficient or falsified information to the regulator.

The Offshore Litigator's Perspective

It is our client's second win in the Privy Council in this litigation and our briefing on it is vital reading for those interested in the offshore funds industry

Coronavirus Outbreak: Legal Update

Many companies will be giving priority to repatriating members of staff located in mainland China and other areas that are impacted by the coronavirus outbreak; but different governments are giving differing guidance to their citizens, and the guidance wh

Unexplained Wealth Orders: Will Zamira Hajiyeva’s appeal open the floodgates?

John Binns, partner in the Financial Crime team at BCL Solicitors, discusses the implications of the appeal against Unexplained Wealth Orders (UWO)

Japan's foreign security rule only a minor concern now

Investment Insights by our experts and thought leaders

Blockchain, Smart Contracts and the Law

There has been a huge growth in blockchain technology and in blockchain-based applications, especially in finance giving rise to so called “smart contracts”.

ESMA strategy on sustainable finance

It has already delivered on several objectives of the EU’s action plan on financing sustainable growth and will continue to assist the EU institutions to achieve sustainable finance goals.

Warning of legal risks in serving insistent clients

Ms Rhodes gave the example of a client requesting a £100,000 transfer into what they deem to be a good investment opportunity, but which a wealth manager can identify as a scam.

Superyacht Industry is Falling Behind on Cyber Security

Wills agreed that the industry needs to do more and called on designers and builders to implement cyber security into yachts right from the concept stage.

Regulatory Challenges of Wealth Management in Asia

In Hong Kong, the Securities and Futures Commission has set out a product due-diligence regime that requires distributors to have a clear understanding of an investment’s features before marketing and distributing it to a client.

SIX’s fine against GAM becomes legally binding

This was in connection with GAM’s purchase of Cantab Capital Partners in October 2016.

Mindful Wealth Successfully Completes VCC Pilot Programme With MAS

After MAS launched VCC framework, it has been running a pilot programme for selected Permissible Fund Managers who wished to register a new investment fund as VCC or re-domicile a foreign corporate entity as a VCC.

‘No surprise visits’ to Pilatus bank

Reasonable suspicion of money laundering in Enemalta deal

Denmark seizes Sanjay Shah’s mansion over £1.5bn fraud claim

He is alleged to have created a complex scheme using fake documents to fraudulently claim tax relief on share dividends in Denmark.

High net-worth Spaniards looking to transfer to Portugal to escape new Socialist regime

This is despite the fact that Portugal is tweaking its non-habitual residency regime – previously representing a 10-year tax amnesty for pensioners – so that subscribers pay a minimal tax on the income from their pensions.

UBS Group Unit Under Investigation By Italy's Prosecutors

Per the Italian law, the companies involved can be held responsible for the actions of their employees.

OECD endorses international tax rewrite efforts, punts on ‘safe harbor’ proposal

The safe harbor proposal came as a surprise and many stakeholders have understood it to mean that the new allocation rules would be optional for companies.

Asset managers advised to review governance

Alice Bell of Pinsent Masons said firms need to go beyond boilerplate compliance manuals and documentation to meet the FCA's requirements on governance.

Legal,Regulation,Tax & Compliance