Managers of Wealth

Morgan Stanley Wealth Management Australia required to amend false claim of independence

Advice firms need to have adequate processes and controls in place to ensure any public statements they make comply with the Corporations Act.

Former Julius Baer banker pleads guilty in $US1.2b Venezuelan cash laundering

Two years ago, Switzerland seized $US118 million ($160.5 million) in bank assets linked to a Venezuelan businessman who has admitted to bribing PDVSA officials to steer about $US1 billion in energy-supply contracts.

Fintech Without Borders: Regulators Consult on Global Financial Innovation Network

The Consultation builds on the FCA’s proposal earlier this year to create a “global sandbox” for innovative financial services firms.

Corporate compliance in Ireland is easy – but not complexity free

While Ireland is leading the way for ease of corporate compliance, the country is not complexity-free.

Bermuda's Charities Amendment Act: Balancing AML/ATF standards and privacy

The public only has the right to inspect the register of charities in respect of public charities, together with such public charities’ statements of accounts and annual reports.

Merrill Lynch Settles SEC Charges of Undisclosed Conflict in Advisory Decision

The SEC’s order finds that the conflict of interest arose in Merrill Lynch’s handling of third-party products managed by a U.S. subsidiary of a foreign multinational bank, in which more than 1,500 of Merrill’s retail advisory accounts ha

Is naming and shaming tax defaulters an effective tax evasion deterrent? Sarah Saunders and Mike Down

Despite concerns from some Conservative MPs, Chancellor of the Exchequer Philip Hammond seems to be ruling out reforms to business rates although arguably these could have a greater influence on high streets up and down the country than the ‘Amazon

How much do financial advisers earn?

Top earner at Guardian Wealth reportedly takes home over £500,000 a year after tax

Former UBS rogue trader avoids immediate deportation

Adeboli is currently involved in lecturing and mentoring projects

EU backs Gibraltar’s tax transparency measures

The EU Commission says Gibraltar’s financial services industry is not ‘harmful’ to other EU tax regimes

Appleby's head of Private Clients & Trusts nominated for ‘Trusted Advisor of the Year’

There are only five individuals nominated for this prestigious award.

Sweeping changes to Mauritius Global Business Sector

This memo provides an overview of some of the salient changes which may have an impact on our clients’ businesses.

SEC Charges Technology Fund Adviser, Founder in Fraudulent Scheme

The SEC’s investigation was conducted by Eric Brooks, Michael Foley, and Ellen Chen, and was supervised by Jeremy Pendrey of the Enforcement Division’s Asset Management Unit in the San Francisco Regional Office.

Goldman Faces Losses on Venezuelan Bond Deal That Drew Criticism

Venezuela bond declines underscore the risk Goldman and its clients took on with an opportunistic investment in a country facing challenges

Billionaire racehorse owner launches court case against Lloyds Bank subsidiaries

Trevor Hemmings’ Manx Capital was among a group that secured a £200m settlement from RBS in 2017

Global corporates shifted $616 billion in profits to 11 tax havens

The documents revealed a web of secretive offshore tax regimes

Malta wealth managers named in Venezuelan graft probe

MaltaToday has learnt that Portmann Capital Management Limited is the Maltese investment firm that is referred to in the Homeland Security Investigations criminal complaint filed in the courts of Miami

Aristocrat sues France for €351m in row over Monaco throne

He insists his legal action is not aimed at Monaco’s current ruler, Prince Albert, but the French state.

English High Court Issues Milestone Judgment in Favour of Quantum Global

The UK court froze the assets in April after the FSDEA's legal team complained that the money may be being used in an alleged fraudulent conspiracy.

RBC whistleblower protections under FCA scrutiny

Regulator made aware of at least five further complaints after whistleblowing former employee wins unfair dismissal case

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