Managers of Wealth

OECD: MLI to rst enter into force on 1 July 2018

According to the terms of the convention, the individual signatories have to ratify the MLI in line with their domestic rules and deposit their ratication instruments with the OECD

Envestnet Announces New Partnership with Hancock Whitney Bank

Thirty-four of the 50 leading banks use Envestnet to help design, develop, and deploy a more profitable operating model for managing their client's retail, high-net-worth, and institutional businesses.

Court queries 'troubling' FCA ban on junior UBS staff

While the court dismissed his suit and ruled that Hussein had offered misleading testimony, it also reserved criticism for the way that the FCA had targeted its investigation and regulatory action.

Macquarie Group's private wealth arm gets axe out again

The final step - if there is no change - is Macquarie assessing removing the adviser from the business.

Legal developments offer greater privacy for officers of wealth management companies

Notwithstanding the new rules, officers of wealth management companies who would prefer to maintain a degree of separation between their personal life and their professional dealings should not publicise their home address in the first place.

China’s crackdown on shadow banking hits foreign asset managers

The major new asset management rules, announced in April, are aimed at tightening shadow banking activities and reducing the systemic risks in order to develop a healthier domestic capital market.

Audi boss Rupert Stadler arrested over ‘dieselgate’ scandal

AUDI CEO Rupert Stadler has been arrested in relation to the emissions cheating scandal. “We confirm that Mr Stadler was arrested this morning. The hearing to determine whether he will be remanded is ongoing,” a spokesman for parent company V

UBS revamps ESG models, hunts for new PMs

Traditional government bonds will be replaced with development bank bonds and sustainable municipal bonds

Merrill weighs lifting ban on retirement account commissions

That rule will go off the books in a matter of days after a federal appeals court overturned the statute in March and the Trump administration DOL declined to appeal to the Supreme Court last week.

Real Madrid's Cristiano Ronaldo agrees €18.8m fine in tax case - sources

The final agreement has still to be signed off on both sides -- and Ronaldo's camp may yet get the prison sentence element removed in exchange for a higher fine.

Breaking up is hard to do: retired Irish High Court judge Henry Abbott on millionaire divorce cases

Retired judge Henry Abbott spent 15 years ruling on high-net-worth divorce cases. He tells Mark Tighe about millionaires concealing assets, warring spouses, and litigants refusing to leave the courtroom

Westpac Charged For Wealth Flaws

Sinha was punished with a five-year ban last year for charging fees without providing all the advice customers had paid for.

1MDB controversy: Legal eagles hired by parties involved

FARA requires agents representing the interests of foreign powers to disclose their relationship with the foreign government and information about related activities and finances.

Aussie bank faces landmark lawsuit over bad advice

Asic is contending that, since Westpac held the financial services licence used by Sinha, the bank is liable for the alleged breaches, which carries a maximum penalty of A$1m (£564,084, €642912, $753,089) per breach.

Wealth adviser faces £30k fine after faking his qualifications

The regulator served him with a £29,300 fine after ruling his conduct had ‘pose[d] a risk to consumers and to the integrity of the financial system’.

How do financial compliance challenges impact the CFO’s agenda?

In a global environment, Chief Financial Officers are mainly concerned about maximising revenues and reducing costs. But compliance is an ever-present element that will influence your choice of growth strategy – and the outcome.

Why the ultra-wealthy are the only winners of 'perverse' inheritance tax gifting rules

Everyone has an annual gift allowance of £3,000, which can be given away free of IHT regardless of when they die.

Tennis champ and 'EU diplomat' claims immunity

Arbuthnot Latham, a British private bank, said he failed to repay loans and wants to seize assets.

Why wills and bequests are not just for philanthropists

The message is we don’t all have to be Guggenheims, Rockafellas, Kaldors, Fairfaxes or Myers to make an impact on the arts.

US firm penalised as pension mis-selling goes offshore

DeVere USA, which has no link to UK advisory firm Chase de Vere, at centre of concerns over pensions advice to British expats working overseas.

Legal,Regulation,Tax & Compliance