09/19/2018
Pru and Old Mutual avoid sanctions after FCA closed-book review
Abbey Life, Countrywide, Old Mutual, Police Mutual, Prudential and Scottish Widows were singled out for further review.
Legal,Regulation,Tax & Compliance
09/19/2018
How Misplaced Trust in Advisors Contributed to Massive Fraud Against Pro Athletes
Among the factors that increase the chance of an athlete being defrauded is misplaced trust in financial advisors, business managers and family, according to the report.
09/19/2018
KPMG admits misconduct on BNY Mellon reports, says watchdog
A disciplinary tribunal will be convened to decide what sanctions should be imposed, the FRC said, adding that no client money or assets were lost as a result of the misconduct.
09/19/2018
UK Treasury’s ‘proactive’ approach to cryptocurrencies welcomed by deVere
The report concludes: “Regulation [is] needed for…crypto-asset market” and that the “ambiguity of the UK Government and regulators’ position is clearly not sustainable.”
09/19/2018
Iceland has made it illegal to pay women less than men
A new law in Iceland making it illegal to pay women less than men came into effect on January 1, 2018
09/18/2018
Continuing education enhances job opportunities in the financial industry
The working environment in the Swiss financial industry is becoming more complex, specialised and challenging.
09/18/2018
China’s new income tax laws to bring ‘profound implications’
In June this year, the Chinese government announced much-anticipated revisions to the country's individual income tax laws.
09/18/2018
Deputy: High-net-worth law vote ‘disappointing’
And the criteria for assessing such applications will be made clearer after Members approved another part of the proposal.
09/18/2018
Investigators home in on Deutsche Bank exec's 1MDB role
The Monetary Authority of Singapore has also quizzed Deutsche Bank about the extent of Ms Tan's involvement with the 1MDB account
09/18/2018
Trade wars step up, more to come
China may bide its time, but we expect they will follow with tariffs on a further $60 billion of imports from the US.
09/18/2018
HSBC steps up Singapore and Hong Kong hiring to cash in on Asian goldmine
The world’s ultra rich are continuing to settle in Asia with the number of HNWIs growing 12.1% to 6.2 million with total wealth holdings of US$21.59t, according to a study by Capgemini.
09/18/2018
Ogier remains in a league of its own with highest number of any offshore firm on Citywealth Leaders List
This is the second year running that Ogier has seen the highest number of any offshore law firm on the Leaders List.
09/18/2018
Credit Suisse found lacking in fight against money laundering
Another case involves a significant business relationship with a politically exposed person (PEP), who remains unnamed.
09/17/2018
Full statement from UK Foreign and Commonwealth Office
The Cayman Islands withdrew from the Exchange of Notes after the UK’s Sanctions and Anti-Money Laundering Act was passed in May.
09/17/2018
Netherlands’ Largest Bank ING Group Fined $900M for Money Laundering
The Dutch police explain its “impossible” to really estimate how much money was actually laundered through sketchy accounts and unusually large transactions.
09/14/2018
The BillionaireWho Bought Trump’s Mansion Faces Scrutiny in Monaco
Lately though, Mr. Rybolovlev, a billionaire Russian mining magnate, has been less visible and Prince Albert has maintained a delicate, diplomatic distance from him.
09/14/2018
Divorce Often A Legal Quagmire For Super Wealthy
A spouse who owns and runs a closely held business may be overly optimistic about its value when applying for financing or speaking to investors in the months leading up to a divorce.
09/14/2018
Ex-Lumiere boss found guilty of £2.7m fraud by Jersey court
The month-long trial involved evidence from the Jersey Financial Services Commission and his former clients, which included an elderly French couple, a pensioner and a partially-blind 79-year-old.
09/13/2018
State of the Union 2018 – Stronger anti-money laundering supervision for a stable banking and financial sector
Today's proposal to strengthen the European Banking Authority's role will now be discussed by the European Parliament and Council.
09/13/2018
Anglo-Swiss obtains regulatory approval to distribute in Switzerland
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