Managers of Wealth

Common Reporting Standard: anti-avoidance measures

Compliance with the CRS is not a choice; it’s an obligation. And the penalties for non-compliance are severe.

Carey Olsen and Russell Clark on shortlists for IFC Awards 2019

Judged by an international panel of highly respected practitioners from all private wealth sectors covering all the jurisdictions, winners are those judged to have excelled in achievement, innovation, expertise and service.

Carey Olsen lawyers named as Private Client 'Ones to Watch'

Those selected to the 'Ones to Watch' list will be celebrated at a gala dinner in London on 4 October 2018.

PrivatBank’s court case ends in London, judge to deliver decision in October

The December ruling froze about $1.9 billion of the two men’s assets worldwide, plus interest that runs to $500,000 a day, according to PrivatBank’s lawyers.

How a small change in tax policy could mean a big tax cut for the rich

By adjusting capital gains to adjust for inflation, the White House could cut the tax bills for the nation's wealthiest investors by billions of dollars a year.

OCBC to equip 330 retail wealth advisers with private banking skills

"Such competencies are a dimension beyond the more product-centric approach towards financial planning that is adopted by many retail banking wealth advisers," the bank said in a media statement.

Justice Department Announces Addendum To Swiss Bank Program Category 2 Non-Prosecution Agreement With Bank Lombard Odier

Swiss banks eligible to enter the program were required to advise the Department by December 31, 2013, that they had reason to believe that they had committed tax-related criminal offenses in connection with undeclared U.S.-related accounts.

Former State Street executive avoids prison in U.S. fraud case

He was instead sentenced to one year of probation by U.S. District Judge Denise Casper in Boston

US expats hand back passports to avoid tough tax rules

American expats must also file an FBAR form to let the IRS know about any foreign bank accounts they have with a balance of more than $10,000.

At Wells Fargo Wealth, Goals Triggered Trouble

The Journal also reports that investigations by the Justice Department and SEC were triggered by a letter sent last September from four Wells Fargo financial advisors in Arizona

GAM suspends absolute return head over risk management

We are fully committed to remaining so. We have a strong and broad team in place, with real depth of talent and a long and successful track record.

OECD stretches the truth to give the US a better transparency rating than Ghana

These Global Forum peer review reports are an amazing source of detailed information that we use for Tax Justice Network’s Financial Secrecy Index.

Blacklist, whitewashed: How the OECD bent its rules to help tax haven USA

Things have got a little more complicated though.

John Caudwell told to pay Nathalie Dauriac

A judge said that Nathalie Dauriac, 40, who met the tycoon when she worked at the private bank Coutts, had “clearly won” the dispute.

International law firm recognized as "Complete Powerhouse"

The guide goes on to note that McDermott's Private Client lawyers "have depth and quality which sets them apart.

What Is The Common Reporting Standard For Expats?

The information is passed to the customer’s home tax authority to check against filings to make sure the right of tax.

Swiss Financial Firm to Pay $10.25 Million to Avoid US Prosecution

In addition to providing services to individuals and entities based in Switzerland, at all relevant times, Mirelis provided custodial and independent portfolio and asset management services to U.S. taxpayer-clients.

Move afoot in UK to force offshore firms to reveal owners of properties

The owners’ names will appear on a corporate registry, making it easier for law enforcement to seize assets linked to criminals or bought through “dirty money”.

Finma investigates Zug-based crypto startup

Investigations carried out by FINMA to date indicate that, in the context of its ICO, envion AG accepted funds amounting to approximately one hundred million francs from more than 30,000 investors

Wall Street Fears New International Tax That Was Aimed at Tech

Bank lobbyists are now urging the Treasury Department to come up with a fix for last year’s tax overhaul that would lessen the pain from Gilti

Legal,Regulation,Tax & Compliance