Managers of Wealth

Financial conduct regulation in a restless world

Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at the Deloitte conduct risk roadshow 2019, London.

‘World-Renowned’ Whistleblower Sues Kevin Costner, Estée Lauder Billionaire for Alleged Fraud

The action stems from a dispute over Birkenfeld’s book, Lucifer’s Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy.

UK company register eyes more powers to fight fraud

Amid criticism it is imposing public beneficial ownership registers on overseas territories

How the International Monetary Fund is waking up to the financial risks of the climate crisis

The paper stresses that mitigation instruments other than carbon taxes can have an important role if, for example, higher fuel prices are politically difficult or have limited impacts in countries that do not consume coal.

Geneva boutique partners with consultancy firm

Both companies will also continue to offer some services independently.

'Grand Theft Europe' — tax fraudsters reportedly stealing millions from governments

The "VAT carousel" rackets enable criminal gangs to steal millions from the state.

StanChart Faces Potential Investor Revolt Over CEO Pay

Shareholders are set to vote on StanChart's 2019 pay policy at the lender's annual shareholder meeting in London.

Conference told detailed record-keeping is a key ingredient of compliance with new economic substance requirements

The expectation is that the island's regulated corporate and trust service providers should be able comfortably to meet the requirements as they reflect the professional standards expected under applicable codes of conduct.

Carey Olsen advises on £60 million commercial property sale

The purchase also underlines the continued attractiveness of Guernsey's property market as an investment opportunity.

Basel Committee reports on Basel III implementation progress

The progess report sets out the adoption status of Basel III standards for each Committee member jurisdiction as of end-March 2019.

Lax Oversight of Corporate Register Undermines UK Transparency: Watchdog

Continued foot dragging by Government will only risk UK companies being implicated in the next major money laundering scandal

How major banks turned a blind eye to the theft of billions of pounds of public money

In just eight weeks in 2009 they claimed back £300 million before the Revenue stopped paying up and HMRC is still pursuing that money though the courts.

When governments get tough, criminals get going offshore, study shows

The study by researchers from Monash Business School and the University of Adelaide, Australia, and the University of St Gallen, Switzerland

Swiss bank whistleblower has more to say, wants a pardon

Authorities credit Birkenfeld with, essentially, bringing to an end the decades-long Swiss banking secrecy which made it impossible for law enforcement to discover the Americans with hidden accounts.

Chinese family office obtains SFC licences

Hefeng Family Office is now able to conduct advisory and asset management activities in Hong Kong.

ABTA warns: Millions lost to holiday booking fraud

The average amount lost was GBP 1,380 per person but, as in previous years, in addition to the financial cost, victims have also reported the significant emotional impact caused by this crime.

Public registers showdown can be avoided

The Bermuda Government has opposed that ever since, on the grounds that if other countries are not required to do it, it would cause the island economic damage.

Shareholders snub UBS leadership over French tax conviction

A French court in February found UBS guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties.

Shareholders ignore governance guidance to reject Schroder heir

Leonie Schroder had been criticised for her lack of City experience

Baby boomers vs millennials: FCA dives into generation battle

Spotlight on pension, insurance, mortgage and credit inequality

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