05/07/2019
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
Legal,Regulation,Tax & Compliance
05/07/2019
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.
05/07/2019
Chinese family office obtains SFC licences
Hefeng Family Office is now able to conduct advisory and asset management activities in Hong Kong.
05/07/2019
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.
05/05/2019
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.
05/03/2019
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.
05/03/2019
Shareholders ignore governance guidance to reject Schroder heir
Leonie Schroder had been criticised for her lack of City experience
05/03/2019
Baby boomers vs millennials: FCA dives into generation battle
Spotlight on pension, insurance, mortgage and credit inequality
05/03/2019
New tax rules for non-domiciled individuals in China
The tax residency status of a foreign individual (including Hong Kong, Macao and Taiwan citizens) and their IIT liability in mainland China depends on their number of days resident in the country.
05/03/2019
Couple hire top lawyers to battle each other in “£100m divorce fight”
Simrin and Bhanu filed for divorce in May 2017, but the couple continued to live together until November 2017.
05/02/2019
Morgan Stanley Terminates Broker over College Admissions Scandal
Wu was generating $4 million in annual fees and commissions on $355 million in client assets when he joined Morgan Stanley in 2015, according to newswire and trade magazine reports at the time.
05/02/2019
Dublin fintech outfit snapped up by Broadridge
Houlihan Lokey acted as exclusive financial and strategic advisor to Rockall. Terms of the deal were not disclosed.
05/02/2019
Guidance on Aspects in Relation to the Economic- Substance Requirements as Issued by Guernsey, Isle of Man and Jersey
The guidance is principles based and therefore, cannot cover specific scenarios and will not replace the need to take independent professional advice.
05/02/2019
Answering the call to combat financial fraud
For the purveyors of technology-assisted financial crimes, identity, account access, and payment data are the golden keys that open the door to these organizations’ proverbial bank vaults.
05/02/2019
How Guernsey is part of the British financial services family
For 20 years, Guernsey has been at the forefront of developing and meeting evolving global regulatory standards.
05/01/2019
Substance is key for family offices
The independent research, commissioned by Guernsey Finance and carried out by consultancy Gibson Strategy in February and March this year, interviewed family offices, high net worth families and corporate service providers.
04/30/2019
Regulatory Demands Augur Well for Top Professionals in Leading Jurisdictions
People might have a valid reason to have a presence in any of those offshore jurisdictions
04/30/2019
UBS Cites Multiple Reasons for Ousting a Top Broker
The terse explanation of Findley’s dismissal was sent to state regulators in a summary of the firm’s U-5 termination notice that was reviewed by AdvisorHub.
04/30/2019
Big loss for Morgan Stanley as $6B team goes indie
Morgan’s retention rates have also benefited from a reduced recruiting environment: the wirehouse and rivals Merrill Lynch and UBS have cut back on hiring initiatives in recent years.
04/30/2019
Current vulnerabilities in the global financial system
The report, which includes a discussion of approaches and mechanisms that may enhance the effectiveness and efficiency of international cooperation, will be published and submitted to the June meeting of G20 Finance Ministers and Central Bank Governors.