Managers of Wealth

Leading offshore law firm Shortlisted as Law Firm of the Year in Five Categories

Awards aim to highlight the excellence of advisers and managers in the private wealth sector in major international financial centres.

Appleby Sees Listing Deal Value Total Increase to a Record HK15.5 Billion in the First Half of 2019

Companies from the Cayman Islands and Bermuda currently make up more than 70% of all entities listed on the main board of the Hong Kong Stock Exchange, almost all of which also maintain British Virgin Islands entities as part of their group.

Suspicious Minds: Guernsey's Anti-Money Laundering Regime

The background of the matter concerned a request by the principle beneficiary of a discretionary trust, to terminate the trust.

New Economic Substance Regimes in the BVI, Cayman, Guernsey and Jersey receive OECD Support

These latest positive endorsements follow the introduction of new substance legislation by the relevant authorities in each of our jurisdictions last year. The review was carried out by the OECD Forum on Harmful Tax practices.

Ogier's private wealth team in Jersey continues to lead the market in new Chambers HNW Guide

The team's capabilities across both contentious and non-contentious matters are highlighted with an onshore interviewee observing that "they do a lot of private client work which is very interesting and high-value.

British art dealer jailed in US over £25 million fraud

Sammons pled guilty on July 2 to 15 counts of grand larceny and fraud

Global Registration Services -Market Update Q2 2019

Emma Conaty and Erin Meehan provide a global update on issues affecting the cross border marketing and distribution of investment funds.

Commercial Court considers contractual discretion of bank to close customer account without notice where there is suspicion of money laundering

This is a perennial debate, and the recent Law Commission consultation on reform of the SARS

Global Forum on tax transparency reveals new compliance ratings for nine jurisdictions

These reports are part of the second round of Global Forum reviews, which assess jurisdictions against the updated standard

EU's move to strip market access likely to have little impact on Singapore

It is therefore removing a status that made it possible for European banks to rely directly on those ratings for the issuance of bonds, loans and other debt instruments.

UBS close to settling in Italy money-laundering probe: sources

Last month, UBS settled its other Italian case, a related financial investigation, with tax authorities for 101 million euros.

Collapsed Buyout Firm Abraaj Fined Record $315 Million by Dubai

At the time AIML entered into provisional liquidation, because of the activities referred to above, two funds managed by AIML had a combined shortfall of at least USD 180 million.

Harneys launches Asia Trusts & Private Client Advisory Group

Harneys’ global trusts and private client practice has earned an international reputation for excellence due to its personal, commercially sensitive, and pragmatic approach.

Switzerland helps Japan investigate Ghosn cases

French media have reported Ghosn was making preparations since around last year to move his tax domicile to Switzerland, which offers preferential tax treatment to the rich.

Global tax transparency and the nonprofit sector

Within this, the frustrations of non-profit organizations deserve particular attention.

Swiss Pilatus Flies into Corruption Allegations

The Swiss aircraft maker won a bid in 2012 to provide 75 PC-7 planes to India, though the CBI’s report claimed that Pilatus in 2010 transferred more than $1 million to a bank account “linked to the consultancy Offset India Solutions Private Lt

Tax laws of 12 low-tax countries ‘don’t harm other countries’, says OECD-led 131 country coalition

The premier encouraged tax administrators to share their respective experiences and try to come up with a regional collaborative framework to address these challenges.

Supreme court rules UBS must hand client data over to France

This represents a significant change, as it overturns a decision previously made by the Swiss Federal Administrative Court in 2018.

Deutsche Bank Launches Client-Data Compliance Probe after Layoffs: FT

The internal probe, lead by the bank’s global compliance chief Jeremy Kirk, will seek to determine whether ex-bankers accessed price-sensitive data

Why Compliance (Still) Matters

Law enforcement authorities have clarified what they expect to see in a well- maintained corporate compliance regime and how the presence (or absence) of those elements will be weighed when determining critical components of corporate resolutions

Legal,Regulation,Tax & Compliance