Managers of Wealth

High Court claims by failed UK tax avoidance scheme users struck out

"Parliament has laid down an exclusive appeal process and time limits for invoking it.

Scarred by Malta, Latvia and Cyprus, bigger EU states push for money laundering supervisor

The need for an EU supervisor emerged after repeated failures by national watchdogs at spotting and countering money laundering, the statement said.

‘Sexism and data theft’ at top wealth manager

The whistleblower, who does not want to be named, also alleges potential criminal behaviour.

Vistra Completes Rebrand of London Legalisation Services

Harnessing our local expertise and global reach across 45 jurisdictions, we believe we are well positioned to create further opportunities for clients and prospects locally and abroad.

UBS Fined by Hong Kong for a Decade of Overcharging Clients

To hide the charges, UBS sometimes falsified account statements

Bankers in $220 Billion Scandal Offered Gold to Hide Client Cash

Danske Bank, which is being investigated across Europe and in the U.S. after failing to screen about $220 billion that gushed through its non-resident unit in Estonia from 2007 to 2015

New report: Conquering the complexity of local and global compliance

The Global Business Complexity Index 2019

Greece to offer tax incentives in bid to attract wealthy foreigners

The tax incentive will run for a duration of up to 15-years and will include the benefit of no inheritance tax for assets outside Greece," a senior government official told Reuters.

HSBC Warned Twice by Bank of England on Conduct Risk Control

Communications between individual banks and the BOE are rarely made public and it’s not known whether the regulator has recommended any specific remedies to HSBC.

Switzerland overhauls trust sector with new rules

Switzerland will introduce a new regulatory system for the trust sector in January 2020, marking the "beginning of a new era" for trustees active on Swiss soil.

Conservative tax policies – what can you expect?

The Chancellor, Sajid Javid, himself a professed ‘low-tax guy’, has been considering a bit of a tax shake-up too.

HMRC nudge letter guidance

The early adopters of the CRS agreed to exchange information for the calendar year 2016 by September 2017 and the later adopters who agreed to exchange information for 2017 will have done so in September 2018.

China, Hong Kong to Establish Wealth Management Connect Scheme

The HKMA will work with Mainland authorities and the industry to formulate the implementation details of the new scheme, with a view to launching it “as soon as practicable”.

Carey Olsen lawyers lead the way in data protection expertise in the Channel Islands

The introduction of the General Data Protection Regulation in May 2018 has led to an increase in both business

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

As the Supreme Court noted, "very extensive powers were delegated to Mr Al Sanea to take decisions on behalf of the company, including signing powers over the company's bank accounts."

Meeting the pace of technological change by Nick Cook, Director of Innovation, FCA

Speech by Nick Cook, Director of Innovation at the FCA, delivered at the Chief Data Officer Exchange Financial Services conference in London.

Highly regulated jurisdictions attract family offices

Sally said: "There was an interesting discussion around globalisation and digitalisation, how, with less face-to-face time between trustees and beneficiaries, the relationship could be fundamentally altered.

Positive Energy: Appleby Comments on an Active Energy and Natural Resources Sector

Appleby has reported another strong year in the energy and natural resources sector and has acted on a number of large energy, oil and mining deals during 2019.

Nearly 4,000 ultrawealthy foreign investors have gotten dual citizenship through Cyprus' 'golden passport' program since 2013. Now, it's under investigation.

Cyprus is investigating corruption charges related to its "golden passport" program, which grants citizenship to foreigners who invest $2.2 million or more in real estate or local business.

UK Supreme Court holds testamentary charitable gifts to Jersey were entitled to inheritance tax relief

The Supreme Court’s judgment provides helpful clarification for individuals in the UK who have made testamentary gifts to charities in Jersey by confirming that IHT relief applies.

Legal,Regulation,Tax & Compliance