Managers of Wealth

Legal Frontiers in Bermuda

It has become clear throughout the advancement of financial innovation in Asia that a sound legal and regulatory regime in which businesses can operate is key to success.

Switzerland abolishes bearer shares

The abolishment of bearer shares is all encompassing, and from the 1st January 2020, no Swiss company will be able to issue bearer shares – even if they are able to do so currently.

European Commission Calls for Tougher Action on Money Laundering

One of the four reports is intended to serve as a “post-mortem” analysis of suspected money laundering

Football added to EU money-laundering risk list

Freeports among concerns as Brussels admits weaknesses in fight against illegal flows

SEC Awards Half-Million Dollars to Overseas Whistleblower

Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action.

CYPRUS: Financial Action Task Force Guidance on Risk-based Approach for Trust and Company Service Providers

The Guidance is aimed at TCSP practitioners, countries and their competent authorities

FCA 'Dear CEO' letter

The letter sets out the FCA's view of the key risks of harm that such firms pose to their customers

BCBS and IOSCO extension

The Basel Committee and IOSCO expect that covered entities will act diligently to comply with the requirements

Conyers provides information on theft of documents from former Mauritius office

Venture Law immediately engaged a third-party data security company and launched an investigation to determine the scope of the issue.

European banks, states have serious dirty-money shortcomings- EU Commission

The review also included lenders that have been shut because of money-laundering issues

These 10 billionaires have all gone broke or declared bankruptcy — read the wild stories of how they lost their fortunes

Some of these billionaires have returned to prominence and are just as rich as they once were.

Trusts to be kept out of UK's new beneficial ownership register

The risk of criminals exploiting UK trusts to launder money is assessed to be low

Stronger protections for the environment move closer as landmark Bill takes shape

New measures to enhance wildlife, transform our waste system and improve the resilience of water supplies set out in Environment Bill policy statement.

UK government rejects call to put trusts in explicit scope of property ownership register

It claims that the draft Bill already captures circumstances in which an overseas entity is being used by a trust to hold land in the UK, in that the trustees of a trust, if exercising significant influence or control over the overseas entity, must provid

Legal,Regulation,Tax & Compliance