01/31/2020
UBS Europe probed in Italy in asset manager fraud investigation: sources
Prosecutors have looked in to whether Sofia committed fraud by applying higher-than-average fees to 117 clients
Legal,Regulation,Tax & Compliance
01/30/2020
Carey Olsen's Russell Clark named Crown Dependencies lawyer of the year for second consecutive time
Russell, who also heads up the trusts and private wealth practice in Guernsey, was shortlisted for the 2020 award alongside nine other private wealth lawyers from Guernsey, Jersey and the Isle of Man.
01/30/2020
International tax reporting changes: Directive on Administrative Cooperation 6 and the Mandatory Disclosure Rules
The regulations require ‘intermediaries’ and, in some circumstances, taxpayers to report details of cross-border arrangements to HMRC
01/29/2020
Prevention of Money Laundering and Terrorist Financing: Identity of beneficial owners
Professionals should keep records of all actions taken to identify the UBOs under point (i), (ii) or (iii) and they should be ready, when requested, to justify the measures they have taken.
01/29/2020
Brexit: What's next? What investors expect and the crunch dates
The UK will also no longer be covered by trade deals between the EU and third countries unless these agreements have already been rolled over or new deals have been made.
01/29/2020
Charities secure exemption from new layer of anti-money-laundering regulation
A technical consultation launched this month, which said: “Charitable trusts are not in scope to register because the risk of these kinds of trusts being used for money laundering or terrorist financing activity is low”.
01/28/2020
WH Ireland shuts Milton Keynes branch in restructure
The office will be merged into WH Ireland's London headquarters with its four-strong team locked in negotiations about their futures.
01/28/2020
Drop in HMRC tax fraud investigations
As FOI shows number of raids fell by 23% last year but ‘interpreting the data is not straightforward’
01/27/2020
The Sunday Times Tax List: JK Rowling among UK’s biggest taxpayers
“When my life hit rock bottom, that safety net, threadbare though it had become, was there to break the fall,” she wrote.
01/27/2020
Tax Agencies Step Up Efforts to Hone in on Crypto Tax Evasion
The era-defining financial scandal shone a light on a controversial characteristic of international finance that would soon spell trouble for cryptocurrency investors and businesses the world over: anonymity.
01/27/2020
Guernsey Finance “is more relevant than ever”
Mr Wheatley said: “Representing the island and this financial community for the past five years has been among the most rewarding and enjoyable periods of my career.”
01/27/2020
Germany Probes Deutsche Bank Payments to Saudi Royal Adviser: FT
“We caught it, reported it ourselves to regulators and the affected clients, dealt appropriately with the individuals, and made improvements to avoid something similar happening again.”
01/27/2020
Rothschild bank heirs sue authorities in Vienna for 'perpetuating Nazi laws by plundering £90m charitable trust that was seized by Hitler'
The lawsuit has accused district of plotting to sell valuable property under value
01/27/2020
FINMA Credit Suisse Investigation Could See Executive Overhaul
The bank is being investigated for spying on its own personnel.
01/27/2020
UK Money Laundering Regulations Added to the Art Market
While the precise contours of the new regulations will likely be subject to much debate in the coming months
01/27/2020
Gibraltar regulator says local businesses will pay 12% Brexit levy
The levy will not apply to companies from these sectors that do not passport into the UK, the GFSC added.
01/24/2020
Andrew Bailey calls on tech giants to collaborate with the FCA to help protect consumers
In his final podcast interview as Chief Executive, Andrew Bailey looks back at the last year and his time at the FCA, and underlines the important work ahead as the UK leaves the European Union.
01/24/2020
Financial Services AI Public Private Forum
The pursuit of artificial intelligence (AI) and use of machine learning (ML) are increasingly important fields of innovation in the financial services sector.
01/24/2020
European Commission speech on European Green Deal and MLD5 transposition
The Commission will take these points into account in its work.
01/24/2020
Angola may seek arrest warrant for dos Santos
Failing that, his office would resort to legal instruments at its disposal, one being an international warrant.