Managers of Wealth

Jersey Finance Comments on Commitment to Move Towards Public Registers of Beneficial Ownership

As an industry, we are now looking ahead to working together with government and other partners to move forward

Grand Theft Europe

Fraudsters are every year robbing Europe’s citizens of 50 billion euros in tax money. A Europe-wide investigation by 63 journalists from 30 countries, coordinated by CORRECTIV.

3 common legal structures for expatriate employees

The EWE structure can pose a corporate income tax risk, so careful planning is recommended.

SFC fines Credit Suisse for disclosure failures

The SFC takes the view that CSHK and CSAG have failed to put in place effective systems and controls to ensure compliance with the disclosure requirements and timely detection of the disclosure failures.

Offshore relocations - moving your family to the Channel Islands

Those arguments still hold true, but more and more the things that are swaying people towards Jersey and Guernsey are about the high quality of lifestyle, healthcare and education, strong and reliable travel links, a thriving entrepreneurial culture and t

Islands announce plans to set up ownership registers

The commitment announced today will increase further transparency and accessibility whilst maintaining high standards of accurate, up-to-date, verified information.

Cutting through complexity – how the role of private wealth advisers has changed

The regulatory landscape has also dramatically changed and clients are keen to ensure their structures are compliant.

FCA warns wealth managers to expect scrutiny

City regulator has concerns over fee disclosures and potential scams

AIA Singapore's wealth managers to get training, certification meant for private bankers

IBF Standards have three levels, with Level 1 described as "basic understanding of key concepts and ability to apply skill to routine tasks", according to IBF Singapore's webpage.

Official statement from the governments of Guernsey, Jersey and Isle of Man on beneficial ownership registers

The commitment announced today will increase further transparency and accessibility whilst maintaining high standards of accurate, up-to-date, verified information.

New guidance needed to improve anti-money laundering regime

Banks and other businesses use suspicious activity reports (SARs) to report cases of suspected money laundering and terrorism financing, to the United Kingdom Financial Intelligence Unit.

European Commission guidelines on reporting climate-related information

Sustainable finance: Commission publishes guidelines to improve how firms report climate-related information and welcomes three new important reports on climate finance by leading experts

UK dependencies to reveal company ownership amid tax haven crackdown

Jersey, Guernsey and the Isle of Man said in a joint statement they would bring forward legislation for public access to a central register within 12 months of an EU anti-money-laundering review which is due in January 2022.

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).

Legal,Regulation,Tax & Compliance