Managers of Wealth

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

Head of Multi-Billion Dollar Fund Empire Faces ‘Illegal Fundraising’ Investigation

An investor in the company told Caixin

S&W launches boutique joint venture to run Asian funds

Andrews had worked at joined Smith & Williamson since 1996.

Money Laundering and the Regulations: When to Report ‘Suspicious Activity’

Where a suspicion does arise, a report to the National Crime Agency may be necessary to obtain a defence before handling such property or becoming concerned in such arrangements.

Credit Suisse Hit With Criminal Complaint Over Mozambique

The Swiss complaint is awkward for Credit Suisse, which has sought to downplay its ties to the oil- and gas-rich eastern African nation.

Regulation in Guernsey - what can happen when it goes wrong

The matter came to the Royal Court, which largely upheld the GFSC's decisions in a judgment issued in November last year.

Significant Changes in the 19/20 Tax Year by Penny Lovell

If you’re a parent or grandparent putting savings into a Junior ISA, you’ll also want to adjust the family’s contributions to ensure you’re making the most of the new limit, which has risen from £4,260 to £4,368.

New £1.5billion fine threat for Standard Chartered over Iran link after a civil case is filed by whistleblowers

Bank could face a new £1.5bn fine for breaking US sanctions against Iran

Crown Dependencies release joint guidance on economic substance legislation

This guidance substantially builds on the initial key aspects guidance issued by the Crown Dependencies, which was updated on 21 December 2018.

Implications of the BVI Economic Substance Act

Pre-existing entities which are in existence on 1 January 2019 will need to demonstrate economic substance requirements no later than 30 June 2019 and meet reporting obligations within one year of that date.

Legal,Regulation,Tax & Compliance