07/22/2018
Finma finds Rothschild Bank in 'serious breach' of AML rules
FINMA will appoint an audit agent to review enhancements already put in place by the institutions.
Legal,Regulation,Tax & Compliance
07/22/2018
Anti-money laundering crackdown should be more focused on most suspicious activity – Law Commission
Money laundering is estimated to cost every household in the UK £255 a year and allows criminals to profit from their crimes.
07/22/2018
The Advantages of Listing Securities in the Channel Islands
TISE enjoys the support of a growing number of prestigious local and international organisations.
07/22/2018
Fugitive Malaysian businessman Jho Low still involved in affairs of his Hong Kong companies
Low, a key figure in 1MDB investigation, signed documents for private equity firm Jynwel Capital and non-profit group Jynwel Charitable Foundation this month.
07/20/2018
Tax agency goes after South African billionaire
I will be taking legal advice on whatever is misleading
07/20/2018
HSBC fined $1.2m in Hong Kong for 'systemic deficiencies' in bond sales
SFC reprimands and fines HSBC Broking Securities (Asia) Limited $9.6 million
07/19/2018
Keeping it real: The EU Council’s substance requirements by Ashley Fife, Appleby
Numerous other “offshore financial centres” face an end-of-year deadline to avoid being placed on the European Union Council list of non-cooperative jurisdictions for tax purposes.
07/19/2018
Blockchain Investment Funds: A Cayman Perspective by Higgs & Johnson
The flexible legal framework in Cayman means that fund vehicle can be tailored to meet onshore tax requirements
07/19/2018
New Reporting Regulation Will Have Big Effect on Family Offices
A new agreement on international tax and financial information exchange aims to provide less opportunity to shelter wealth from taxation. Global wealth managers and advisors need to make sure they and their clients are in compliance.
07/18/2018
Bank of Asia to host official BVI launch
The British Virgin Islands is the appropriate home for Bank of Asia because the BVI is at the forefront of delivering high quality technological and innovative offshore services.
07/18/2018
Liontrust to consolidate outsourced fund services to BNY Mellon
The UK asset manager will consolidate its asset servicing relationships for its UK and Ireland fund ranges and use BNY Mellon as its sole outsourcing provider.
07/17/2018
New constitution in Cuba will recognise free market and private property
But the Cuban Communist Party, led by Miguel Diaz-Canel, remains ‘the superior leading force of society and the state’
07/17/2018
The Litigator’s Toolbox – Without Prejudice by Higgs & Johnson
The influence of public policy on encouraging persons to settle their disputes without resorting to litigation, is an important factor in the without prejudice rule as is the contractual element of the Rule.
07/17/2018
A Framework for Initial Coin Offerings in Bermuda
Appleby can assist with additional support services in relation to requirements surrounding the compliance regime.
07/17/2018
How Accountants Working With The Wealthy Can Double Their Practices Within A Few Years
The reason the business environment for these accountants is so promising is that the number of wealthy – especially the ultra-wealthy and super-rich (net worth = $500 million or more) has tremendously swelled.
07/17/2018
Global Forum publishes tax transparency compliance ratings for seven jurisdictions and welcomes three new members
The Global Forum also welcomed three new countries into its membership – Bosnia and Herzegovina, Cabo Verde and Swaziland.
07/17/2018
IRS spent $380m but took ‘limited or no action’ on offshore tax dodges
As the International Consortium of Investigative Journalists and its partners have reported, the offshore financial services sector represents a major contributor to growing global inequality
07/16/2018
The Opportunity of a Lifetime: The Bahamas as a Centre for International Commercial Arbitration
With its strategic location as the crossroads to the Americas, The Bahamas is well-positioned to become a favoured jurisdiction for international commercial arbitration.
07/16/2018
Swiss Bank to Settle U.S. Tax Probe
The move means renewed momentum for a years-long tussle between Swiss banks and American officials which began with a criminal investigation into a first group of banks including UBS, Credit Suisse, Pictet and others.
07/16/2018
Jersey's balanced approach to ICO activity
Hawksford’s existing policy on providing services to ICO issuers is very much focused on quality, and we welcome the emphasis placed on this within the guidance note from the JFSC.