Managers of Wealth

FCA writes to wealth managers over fraud concerns

The regulator says supervision began in April and will cover a two-year period focusing in on market abuse issues and further concerns around meeting Mifid II disclosure requirements.

MAS issues prohibition orders against ex-UBS employee for forgery

MAS’ investigation found that Mr Michele had falsified emails on such background checks.

Guernsey’s a pillar of strength in the offshore wealth management sector

Guernsey has over 100 regulated trust companies providing the breadth and depth of expertise in the island to hold its own and provide international clients with a one-stop shop for wealth management.

Banks face new challenges in Italian diamond scandal

In a new development, officials from UniCredit and Banco BPM are also suspected of corruption because broker Intermarket Diamond Business (IDB) invested some of its profits from the diamond sales in the banks' shares, according to evidence gathered b

Credit Suisse sues UK to claw back banker bonus tax payments

Zurich-based bank seeks £239m bank payroll levy it paid after the financial crisis

SMP Group Completes MBO

The deal has been backed by Palatine Private Equity LLP, a UK mid-market private equity house, with additional debt funding from Apera Asset Management.

Aircraft Finance: Ireland’s Charm, Challenged

This has attracted a significant number of new entrants to the market over the past 15 years (96 lessors in 2002 vs. 153 in 2018).

UK tribunal reverses controversial decision on Jersey companies’ tax residency under central management and control test

The Jersey directors then resigned and the group claimed that UK capital losses could be realised because the residence of the three companies switched to the UK upon the directors’ resignation.

Noah receives advisory licences in Canada

With the new licences, the New York-listed Chinese wealth manager will be able to give financial advice to high net worth individuals and family offices in Canada.

GDPR, SARS, and what it all means for HNW privacy – expert view

So has it lived up to its expectations?

Crown Dependencies publish guidance on economic substance legislation

At the end of April, the islands issued a joint guidance document which provided further clarification on the application of each CD’s economic substance legislation.

Taxman may cut definition of high wealth by €30m

The Dáil public accounts committee has also recommended a lowering of the threshold for high earners monitored by the unit.

Revenue admits using newspaper ‘rich lists’

As a result, Revenue Commissioners have turned to rich lists, which are published by two Sunday newspapers each year.

Diamond group credit fraud investigation leads Indian authorities to Macau

The former Winsome Diamonds Director has justified the default by stating that that the group’s customers in the Gulf region were hit by derivatives and commodities trading losses of US$1 billion and were unable to pay him.

Marc Chesney: «The Microtax Is Neither Left Nor Right»

The idea of a tax on electronic transactions that the head of the banking institute at the University of Zurich favors, will probably provoke a rebuke from representatives of Swiss banking.

Finma adds three new firms to warning list

The list includes companies that might be carrying out unauthorised or unsupervised wealth management or banking services.

Guernsey praised by FBI for tackling financial crime

FBI praises island in fight against financial crimeFBI praises island in fight against financial crime

Conduct Risk - Is Your Framework Compatible with the FCA's Agenda?

The FCA launched the 5 Conduct Questions Programme in 2015, initially as a Supervisory tool for the Wholesale Banking sector

Mauritius to offer umbrella license to providers offering wealth management services

We have prepared a summary of key measures governing the Mauritius budget 2019-2020 for your perusal.

Fund Finance in Luxembourg: the essentials

The result is an attractive, secure legal framework that works strongly to the benefit of secured finance parties in transactions involving Luxembourg obligor corporate and fund structures granting security and, consequently, fund promoters seeking invest

Legal,Regulation,Tax & Compliance