Managers of Wealth

PRA Regulatory Digest - July 2025

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

FNZ rejects $4.6bn lawsuit as ‘entirely without merit’

The claim names 17 current and former directors and accuses them of breaching fiduciary duties, acting oppressively and authorising transactions that were not on commercial terms.

Harneys remains in top bands for Chambers HNW guide 2025

This is the tenth consecutive year the firm has received these recognitions.

Mourant commended for its "brilliant reputation" in Chambers and Partners High Net Worth 2025

Lawyers from across our British Virgin Islands (BVI), Guernsey, Jersey and London offices also achieved 12 individual rankings in the guide.

"Uniformly excellent" Ogier retains tier one status in Chambers High Net Worth Guide for Cayman, Guernsey and Jersey

Global head of Private Wealth Matt Guthrie said: "What a fantastic achievement for the firm's Private Wealth teams.

Deutsche Bank Accused of Bypassing EAM in Singapore

EAMs act as an intermediary between their end-clients and banks.

Billionaires Leave UK as Government Ends Tax Breaks for Wealthy Foreign Residents

Under the new rules, all long-term UK residents pay taxes on their worldwide income.

Taxing the wealthy: HMRC does not know how many billionaires pay tax in the UK

PAC warns of lack of clarity over how much tax is paid or avoided by the very wealthy, as report highlights significant opportunities to collect more revenue.

Nikko AM Group successfully completes management company transfer to Apex Group

Nikko AM Group offers active investment management across Equity, Fixed Income, and Multi-Asset strategies

Taxing the rich would rob the UK of ambition

On the face of it, a wealth tax looks like a simple solution to redistributing wealth and helping fill the Treasury’s empty piggy bank.

Nordea Reaches Milestone in Switzerland

The Finma license is a key step toward our growth ambitions in Switzerland.

Burges Salmon guides Wealthtime through innovative business transformation with 10-year partnership with Wipro and GBST

The partnership delivers a market-leading, digital-first platform and innovative customer-centric service offering.

ZKB introduces new charges for Swiss-resident Americans

A spokesperson confirmed the newly implemented quarterly CHF 90 charges to US citizens residing in Switzerland.

Response to media reports – Legal case concerning alleged 1MDB fraud

They operated under false pretences, and acted as a conduit for funds misappropriated from 1MDB to launder monies.

Living between Dubai and Milan, but litigating in London

While private wealth may find a new centre of gravity further east, the gravitational pull of London’s courts will stay as strong as ever.

The eternal dilemma of how to tax the super-rich

It is becoming harder to keep wealthy nomads and ordinary voters happy

Wealth advisers helping tax evasion face fresh fines

Advisers who help clients evade tax will face fines under rules that have come into force from 01 January this year.

CS Plaintiffs Achieve Stage Success

The names of these experts are not being disclosed, as objections could still be raised against the proposed persons.

Hawksford shows commitment to UAE market through DMCC agreement

Working closely with its well-established teams in the UK and Singapore, the agreement will also see Hawksford support greater trade flows across the UK-GCC-ASEAN corridor.

Nigel Farage Accused Of 'Billionaires' Giveaway' Over New Tax Policy

All of the money raised from the new policy would be given directly to around 2.5 million workers on low incomes, Farage will announce in a major speech on Monday.

Legal,Regulation,Tax & Compliance