Managers of Wealth

A New Horizon by Mark Carney

In pursuit of that New Horizon, let me briefly discuss progress and prospects in three critical areas - reporting, risk and return.

Like Multinational Companies, Africa's Richest Are Hiding Wealth And Avoiding Taxes

The September 2018 AfrAsia Bank Africa Wealth Report says the total individual wealth held in Africa amounts to US$2.3 trillion.

Pictet Hit by Alleged Fraud

Geneva's prosecutor has opened a criminal investigation, and the bank has informed Swiss financial regulator Finma, one of the persons said.

Finma adds three new companies to warning list

Finma has added three firms to its warning list amid concerns about a failure to provide sufficient information to the regulator.

Swiss Trust Law: Federal Council to Draw Up Law on Swiss Trust

The Swiss attempt to codify the Trust law is a continued effort to not only maintain but to increase the attractiveness of Switzerland as a primary financial location for trust companies and for their clients.

Billionaire Michael Steinhardt accused of sexual harassment in NYT report

The former hedge fund founder denies touching anyone inappropriately.

Activities requiring Data Protection Impact Assessment under Luxembourg law

The list put forward by the CNPD does not consist of a comprehensive list of processing operations outside of which a DPIA would not be necessary

In Your Court: Offshore Dispute Resolution Review - March 2019

The jurisdiction has a reputation for dealing with complex financial services and commercial litigation based on the relevance of its legislation, the reliability of its court system, and the experience of the professionals who work here.

Transforming wealth-management space poses regulatory challenge

The report noted the rise of two crucial demographic segments.

Mauritius may be the ideal Plan B

The ‘Singapore of Africa’ offers one of the most progressive investment environments on the continent.

New Beneficial Ownership Toolkit will help tax administrations tackle tax evasion more effectively

To assist policy makers in assessing different implementation options, the toolkit contains policy considerations that Global Forum members can use in implementing the legal and supervisory frameworks to identify, collect and maintain the necessary benef

FCA fines UBS AG £27.6 million for transaction reporting failures

UBS AG (UBS) has been fined £27,599,400 by the Financial Conduct Authority (FCA) for failings relating to 135.8 million transaction reports between November 2007 and May 2017.

Arki Busson’s hedge fund gives up Swiss licence and cuts jobs

LumX had already been slimming down following years of losses

Labuan Financial Services Authority and China Banking and Insurance Regulatory Commission commit to greater regulatory co-operation and collaboration

The MoU provides the platform for Labuan FSA and CBIRC to enhance the regulatory and supervisory oversight of cross border branches and subsidiaries of China and Labuan based banks and insurance entities.

Legal,Regulation,Tax & Compliance