Managers of Wealth

How CCO Reasonable Prevention Procedures Can Help You Mitigate DAC6 Penalties

DAC6 non-compliance by itself will not necessarily increase the likelihood of a CCO investigation.

Cayman Finance Response to Tax Justice Network Financial Secrecy Index 2020

The Cayman Islands would not be highly ranked on any secrecy index that is objective, transparent, and based on standards established by global standard setting bodies.

UBO registers in the Netherlands and Luxembourg: an update

Now that the UBO register is live in Luxembourg, it has allowed the general public and other interested parties like bankers, lawyers and notaries to see how it works in practice.

Why enforcement authorities favour Account Freezing Orders

There is also anecdotal evidence that the NCA has been able to obtain such orders based on historic internet articles alleging wrongdoing by an account holder’s relative.

Court orders Credit Suisse to provide $1bn fraud related documents

Ruling Increases Pressure on Bank's New CEO to Address Litigation Risks

Turn Regulation Best Interest into a Value Proposition

Recasting regulatory obligations as cultural commitments

World Bank Grapples With Study Linking Foreign Aid to Corruption

The article was then published hours later, by the World Bank, he explained, also confirming this through screenshots he shared with OCCRP.

The economic toll of the coronavirus – from iPhones to solar panels to tourism

While much of the world’s attention is rightly focused on the human toll of COVID-19 – including the 1,873 deaths reported as of 18 February – the economic toll of the outbreak also has potentially disastrous implications.

Compliance lessons from Julius Baer’s ‘serious AML failings’

The shortcomings were uncovered by the Swiss Financial Market Supervisory Authority

HMRC sets up secret unit to target wealthy families on IHT

It will be concerned that family investment companies are taxed too leniently and that huge amounts of wealth might be held through them.

Monterey confirms Mourant has dominated the legal funds sector for 20 years

The annual Monterey Report is based upon the Jersey Financial Services Commission's list of regulated schemes as at 30 June 2019.

Accuro Winner of the Who’s Who Legal Switzerland Awards

The fact that we have won this award for the second year running shows the consistency and quality of our services and further demonstrates Accuro’s leading position in the Swiss market.

Hundreds of millions of pounds in dormant assets could be seized under plans to expand charity scheme

Since the launch of the dormant assets scheme in 2011, 30 firms have voluntarily transferred dormant funds into it.

How Standard Chartered is leading the war on wildlife crime

For Standard Chartered’s Southern Africa CEO Jerry Kweku Bedu-Addo, fighting wildlife crime is now part of the day job.

Portugal Golden Visa Program For CEOs, CFOs, And Business Investors

After five years of legal residency in Portugal, it is possible to apply for Portuguese citizenship.

GFSC signs MoUs with two financial services regulators

The MoU with the Croatian Financial Services Supervisory Agency has been signed in the spirit of mutual cooperation and information exchange

Finma penalises Julius Baer for money laundering

Julius Baer took note of Finma's announcement regarding the closure of the proceedings in the FIFA/PDVSA case and acknowledges in principle the conclusions regarding shortcomings in the fight against money laundering.

BVI Joins EU Whitelist

On 18 February 2020, the Economic and Financial Affairs Council announced that the British Virgin Islands has moved to the ‘whitelist’, indicating that the BVI is now in line with tax governance and transparency standards prescribed by the EU.

English Pre-Pack Appeal Changes the Game for Directors – Perspectives from Insolvency Lawyers in Jersey, Guernsey and Ireland

The judge ruled that a company director’s purchase of residential property from the company’s administrator at a “significant undervalue” had not been in the interests of creditors.

How will Italy's Digital Services Tax impact tech giants' bottom line?

The aim is to tax businesses which traditionally paid low amounts of tax in foreign countries they operated in, those being: search engines, social networks and online marketplaces.

Legal,Regulation,Tax & Compliance