12/17/2018
A Billionaire Hit by Sanctions Makes Life Hard for Nordic Banks
The billionaire is suing Svenska Handelsbanken AB for refusing to accept cross-border transactions
Legal,Regulation,Tax & Compliance
12/17/2018
UK govt to stop use of illicit money in property purchases by foreigners
The phenomenon has turned the real estate markets of North American and European cities into the savings accounts of wealthy foreigners - some of whom face allegations of corruption or crime back home.
12/17/2018
Guernsey regulator clarifies collateral rules for ILS cells
The regulator, the Guernsey Financial Services Commission (GFSC), has clarified a number of issues around the authorisation process for ILS cells following talks with the Guernsey International Insurance Association.
12/17/2018
The Story of Malaysia’s 1MDB, the Scandal That Shook the World of Finance
The figures are mind-boggling: A Malaysian parliamentary committee identified at least $4.2 billion in irregular transactions related to 1MDB.
12/17/2018
Malaysia files criminal charges against Goldman Sachs over 1MDB
According to the charge sheets filed in a Kuala Lumpur court obtained by theedgemarkets.com, the primary target is Goldman Sachs International (UK) which had arranged the sale of three bonds — two in 2012 and one in 2013.
12/17/2018
Successful first year for Carey Olsen Bermuda
With seven senior lawyers leading various practice areas and three lateral partner hires its impact has been unprecedented in the Bermuda market.
12/14/2018
EU’s Expanded Tax Haven Blacklist Could Apply to U.S.
The standard calls on countries to obtain information from their financial institutions and automatically exchange it with other countries every year.
12/14/2018
China’s rich rush to shelter $1 trillion from new taxes
The reforms, which take effect Jan. 1, are meant to reduce the tax burden on lower-and middle-income people by making the rich pay more.
12/14/2018
Monaco’s tax lure endures as UK billionaire plots move
The principality doesn’t apply any annual property, capital gains or council taxes.
12/13/2018
FCA Seek Retrial of Ex-UBS Compliance Officer On Insider Case
The defendants allegedly made £1.8 million in profit through the inside trading of stocks.
12/13/2018
China's Rich Rush to Shelter $1 Trillion From New Taxes
The reforms, which take effect Jan. 1, are meant to reduce the tax burden on lower-and middle-income people by making the rich pay more.
12/12/2018
Estranged husband of daughter of one of India's richest billionaires loses fight for £1m divorce cash after judge rules the £130,000-a-year City high-flier does not need money from his ex
The judge said Mr Daga earned £130,000 a year and did not 'need' money from his ex-wife.
12/12/2018
BlackRock and peers slash research budgets as new EU rules squeeze brokers
With the rules making clear how much investors are being charged for research, many asset managers are scrutinising more than ever what they’re paying for and using less.
12/12/2018
US anti-money-laundering bill could reappear early next year
Critics say the proposed law, which stalled following the US mid-term elections, would place an unnecessary burden on dealers
12/12/2018
MIIPA: Malta sets new citizenship by investment standard
At the Malta Individual Investor Programme Agency, we believe success stems from a combination of proactiveness, timeliness and determination.
12/12/2018
AXIS extends CEO Benchimol's contract to 2023
Benchimol assumed the CEO role in May 2012 and has served as a director since January 2012.
12/12/2018
UK government slammed for U-turn on ‘golden visa’ suspension
The Home Office announced it was suspending Tier 1 Investor visas on 6 December, effective from midnight that day
12/11/2018
Credit Suisse Suspected of Failings in Wealth-Manager Probe
This is the second fraud case in recent years in the Swiss city involving client assets at Credit Suisse.
12/11/2018
Environmental Protection Parliament rejects proposal to tax plane tickets
"Flying has become extremely cheap; it defies common sense," said parliamentarian Lisa Mazzone.
12/10/2018
The United Kingdom's measures to combat money laundering and terrorist financing
The UK is the largest financial services provider in the world.