Managers of Wealth

Vatican bank chief says latest scandals are true proof of reform

While all that may make it tough to assess the latest round of purported scoops and stern denials, what’s becoming clear, at least, are the dueling narratives at work.

Gold standard for Chinese corruption

A haul of 13.5 tonnes from the basement of just one official’s home is shining proof.

Nordea Managers of $350 Billion Shielded From Deep Job Cuts

The head of Nordea’s wealth unit, Snorre Storset, says a plan to cut jobs across the organization won’t affect portfolio managers in his unit.

FCA new webpage on Cryptoassets: AML/CTF regime

The MLRs apply to businesses in a range of sectors at risk of facilitating money laundering or terrorist financing

Tidjane Thiam: The "WEF in the desert" is calling

This year, the second-largest Swiss bank is prominently represented there.

Glarner Kantonalbank draws line under litigation with ex-bosses

The bank is now able to credit around CHF 6.5 million to its annual result, as it can release provisions made for the proceedings.

Singapore sees cash starting to flow from turbulent Hong Kong

The extra cash is welcome news for Singapore, whose economy is slowly slipping towards a recession as speculation grows that Prime Minister Lee Hsien Loong will announce an election well before one is due in April 2021.

FATF guidance on Beneficial Ownership for Legal Persons

The report also makes recommendations on how to ensure authorities can access information on beneficial ownership of overseas entities.

Half of the wealth in Cyprus and Malta kept offshore: EU report

Offshore holdings, although in many cases completely legal, could help taxpayers hide taxable money and cut their bills if they stash their savings in low-tax jurisdictions.

Walkers Grows Largest Offshore Regulatory Practice Group

The group is strategically positioned across the Americas, Europe and Asia to ensure the most comprehensive and global coverage for clients.

Traders at Ermotti’s UniCredit Unit Recount Cum-Ex Free-for-All

The investigation into a practice that German authorities now say is a tax heist has riveted financial circles, ensnared dozens of banks and exposed a sprawling network of financiers, short-sellers and middlemen.

Meeting the Regulatory and Compliance Challenges that Lie Ahead

Staying ahead of the game - A firm-wide commitment to compliance Guests agreed that it is essential to take a proactive approach to regulation and compliance, taking a bank or firm-wide approach

What Are The Key Trends Shaping The Fund Finance Industry In Asia?

The event aims to bring together investors, fund managers, bankers and lawyers for education and networking within the fund finance market.

US Poised To Crack Down On Anonymous Shell Companies

The United States is one step closer to putting an end to anonymous shell companies with the Corporate Transparency Act passing the House of Representatives.

Private wealth specialist speaks on economic substance

While the economic substance rules introduced across jurisdictions are largely similar, there are nuances from one jurisdiction to the next.

UBS Gets Boost From Wealthy Asians as Investment Bank Trails

Firm warns lower interest rates will hit lending income

Swiss file first charges in Brazilian ‘car wash’ corruption probe

Swiss prosecutors said they had submitted the case to the Federal Criminal Court under an accelerated proceeding to conclude a case more quickly, in which an admission of guilt and acceptance of civil claims by the accused was required.

OECD proposals will shift taxable profits away from tax havens and back to customer countries by George Bull

The OECD has published new proposals for taxing international consumer-facing businesses.

Credit Suisse Is Latest Bank to Charge Clients for Cash Deposits

In a normal world savers are expected to receive compensation for giving their money to the bank.

UBS: We Might Have Fleeced Rich Clients

UBS intends to reimburse affected customers on a basis agreed with the relevant authorities.

Legal,Regulation,Tax & Compliance