Managers of Wealth

Recognition for 11 Carey Olsen lawyers in Private Client Global Elite Directory

The 2019 edition received more than 8,000 entries, resulting in recommendations for 293 'Global Elite' lawyers and 136 'Ones to Watch'.

Guernsey considers introduction of limited liability companies

The island’s government, the States of Guernsey, has launched a consultation exercise, as it considers following many other international financial centre jurisdictions in introducing LLCs.

First tranche of data from Swiss banks can unearth hidden wealth

Regulatory and government officials said the special focus of the analysis of the Swiss bank data could be on identifying people with political links

Whistleblower says bank has blood on its hands: RAF veteran claims Standard Chartered helped Iran terrorists, ahead of court battle

RAF veteran claims Standard Chartered helped Iran terrorists

FCA new webpage on the transition from LIBOR

SONIA offers a robust alternative to LIBOR.

Time is running out on opportunity zones — but there's limited choice

Federal tax breaks related to opportunity zones could boost an investment's gain by up to 50%, but that benefit starts to decline for clients who invest after this year

CSSF’s eDesk portal available for the mandatory notification in the context of Brexit

Any date indicated in the Brexit Notification forms is based on the assumption of a no-deal Brexit occurring on 31 October 2019.

Galleon’s Rajaratnam Free From Prison After Almost Eight Years

Rajaratnam, 62, is a beneficiary of the 2018 First Step Act, which allows some federal inmates who are over 60 years old, or who face terminal illnesses, to serve the end of their sentences at home.

American expats launch residency-based taxation legislation campaign

The US tax system deems anyone with a connection to the States is a taxpayer even if they only lived in the country for a short time as a child.

India and Switzerland to share bank accounts data

Information on Indians with Swiss bank accounts will be disclosed for the first time

Luxembourg regulator issues Brexit notification to UK firms

Following the 15 September deadline, firms authorised under both Ucits and AIFM will then have until 31 October 2019 to submit to the CSSF either the corresponding application for authorisation, the corresponding notification or information or any action

Family office investments and Jersey Private Funds

Multi-family office co-investment structures might also be exempt, for example where the structure is essentially a joint venture between separate families.

Warren Says Wealth Tax Plan Isn’t a Cranky Idea: Campaign Update

At an event in Hampton Falls, New Hampshire, the Massachusetts senator gave her standard stump speech to a crowd of 800 people who stuck around despite heavy rain stayed even for her trademark selfie line.

The Anti-Money Laundering Picture in Jersey – 8,000 Steps in the Right Direction

Recent reports in the press suggest that, after a three year information gathering process, Lloyds Banking Group has frozen the accounts of approximately 8,000 clients in Jersey who failed to provide sufficient proof of their identity.

Report assesses 116 nations’ implementation of country-by-country reporting

The report assesses each countries’ domestic legal and administrative framework for CbC reporting; the exchange of information framework adopted; and the degree to which they meet standards on confidentiality, consistency, and appropriate use of the

Implementation of the new prospectus regime in Luxembourg

This new regime applies to prospectuses approved on or after 21 July 2019

China P2P crackdown ensnares billionaire property tycoon

Zendai Group founder Dai Zhikang surrenders to police after collapse of lending unit

US expats may see accounts frozen under Fatca

If they don’t give their tax identification number to the IRS by December

Money and private currencies: reflections on Libra

Speech by Yves Mersch, Member of the Executive Board of the ECB, at the ESCB Legal Conference, Frankfurt am Main

Swiss Financial Regulators Approves Bitcoin Banks operations with stringent guidelines

One of the challenges of organizations in the cryptographic money industry is finding a bank that consents to work with them and associate them with the conventional fiat financial process.

Legal,Regulation,Tax & Compliance