Managers of Wealth

Finma adds three firms to warning list

The latest companies to provide insufficient or false information to the regulator.

200,000 Brits in for a £3 billion Swiss bank share-out?

The cash is owed by Swiss financial institutions like UBS and Credit Suisse to anyone who invested money through them and did not receive the commission fees paid on the deal.

Vatican officials: Swiss bank suspected of money laundering led to Pell conflict

"Sometimes the Church must be able to help without being seen to be helping.”

Summary of key points of additional implementation guidance on CbC reporting

The guidance clarifies that, consistent with the definition of revenue, profit (loss) before income tax (PBT) excludes payments received from other constituent entities (CEs) that are treated as dividends in the payer’s tax jurisdiction.

Morgan Stanley tweaks brokers’ core payout formula to boost revenue

Financial Advisor IQ quoted Morgan Stanley Wealth Management field management head Vince Lumia as saying that the new comp plan “is focused on rewarding growth that will be achieved by deepening relationships, adding new clients and delivering a sta

Blacktower opens ‘fully regulated’ Cayman business

To offer financial planning services on the island EmailFacebookTwitterLinkedInPrint

Risky business: UBS warns that tax on billionaires will kill off risk appetite

The proposed wealth taxes have prompted a number of super-wealthy figures including former Goldman Sachs boss Lloyd Blankfein and JP Morgan chief executive Jamie Dimon to publicly express their concerns.

Deutsche Börse and Swisscom Settled Securities Transactions via Tokens for Swiss Banks

In the following securities transactions, the banks acted as counterparties and exchanged securities tokens against cash tokens using DLT.

Swiss aim to launch NSFR liquidity rules for banks by mid-2021

The NSFR complements this and aims to ensure stable funding over the long term.

DBS just signed up to a responsible financing framework—does this mean it has quit coal?

The Temasek-linked bank joins a list of 101 financial institutions from 38 countries that have signed up to the EPs.

U.S. Arrests Money-Laundering Expert For Laundering Money

Prof. Bruce Bagley Participated in the International Laundering of over $2 Million Derived from Venezuelan Bribery and Corruption

FCA fines Henderson £1.9m for fund failings

Retail investors were charged up to 1.5% for Henderson funds that ditched active management

EU Mandatory Reporting of “Tax Aggressive” Cross-Border Arrangements – DAC6

Any cross-border arrangements that are seen as “potentially tax aggressive” needs to be reported to the tax authorities.

AUSTRAC Commences Legal Action Against Westpac for AML Breaches

These AML/CTF laws are in place to protect Australia’s financial system

The Launch of the Legal Statement on the Status of Cryptoassets and Smart Contracts by Sir Geoffrey Vos, Chancellor of the High Court

There is an endless spectrum of types of cryptoasset and cryptocurrencies, many of which already are or certainly will be designed for use as wholesale and retail payment mechanisms.

Legal,Regulation,Tax & Compliance