Managers of Wealth

KOREA: Illegally inherited wealth

Tax authorities should conduct fair, just investigations

Swiss make raids in probe linked to Angola sovereign wealth fund

Angola’s $5 billion sovereign wealth fund has been embroiled in a dispute with its former boss, the ex-president’s son Jose Filomeno dos Santos, and the Swiss-based asset manager contracted to invest money for the fund, Quantum Global.

Worrying rise in criminal and civil penalties aimed at advisers

Giving “anything but ‘vanilla’ tax planning is becoming dangerous for advisers”, as they face a rise in civil and criminal penalties aimed preventing tax evasion, James Quarmby, private client partner at Stephenson Harwood has warn

Six steps to fend off ‘failure to prevent’ tax evasion charges

A law firm outlines how financial advice firms can protect themselves from the criminal offence of failing to prevent tax evasion.

GDPR will see businesses fulfil ethical expectations, Carey Olsen conference told

The primary focus of GDPR is to protect the personal data of citizens of the European Union wherever it is held, processed or transferred.

ASIC vows to use 'every inch' of its powers to ramp up bank scrutiny

Mr Shipton said ASIC would use “every inch of [its] powers" to lift standards, but also slammed the behaviour of some businesses for not co-operating with the watchdog, or obstructing its work.

Essential Services For Private Client Lawyers Working With The Super-Rich And Family Offices

While most legal services are becoming increasingly commoditized, there are many times significant differences in the quality of the work done by different private client lawyers.

Requirement to correct rules not just for the super-rich

“The new rules are certainly not just the concern of the super-rich or corporates,” said Hender

HMRC appeals Hargreaves 'discount tax' ruling

Fate of millions of pounds set to be returned to investors will hinge on verdict, as taxman appeals ruling in favour of Hargreaves Lansdown.

Trump Tax Overhaul Doubles Estate-Tax Exemption for Super-Rich

Dynasty trusts let the richest Americans protect and preserve wealth for generations, while minimizing tax bills.

Tax agency cracks down on illegal wealth transfers

Last year, the tax agency collected 2.81 trillion won (US$2.6 billion) in additional taxes from such illegal wealth transfer.

ASIC cancels Wealth & Risk Management’s AFSL

WRM was the AFSL holder in the business setup, and Yes FP employed its authorised advisers to provide personal financial advice to retail clients referred to them by Yes FS.

Privy Council ruling restores confidence in Guernsey trusts - lawyer

The Guernsey court had held that a creditor of a trustee may enforce a debt directly against the assets of a trust, even if the trustee had no right to indemnify itself from the trust in order to pay the debt.

Real Madrid superstar Cristiano Ronaldo ‘wants club to pay £26.45m fine to tax office’ amid contract negotiations

Five-time Ballon d'Or-winner has reached a deal with tax authorities — but amount will be relevant to new salary in renewal

Swiss seek quick talks with Malaysia on 1MDB investigation

Newly elected Malaysian Prime Minister Mahathir Mohamad, who was sworn in on Thursday, has vowed to investigate the 1MDB scandal and take action against those who may have abetted or benefited from corruption

Art consultant with LI ties pleads guilty to lying on tax return

The government says Lacy Doyle, who lives in Manhattan and owns a house in Sag Harbor, hid a nearly $4 million inheritance from her father.

Ex-NBA star is suing his financial advisor

The suit claims Marquez began overseeing his account and, on several occasions, began investing Brown’s money into various projects and trading stocks without his permission.

Barclays boss Staley fined for trying to expose whistleblower

Barclays is also now subject to special requirements by which it must report annually to the regulators detailing how it handles whistleblowing

International Tax Issues to watch

To manage their transfer pricing exposure, multinationals should review their existing transfer pricing policy on a global basis.

Luxembourg: Tax authorities to examine transactions with jurisdictions on EU list of noncooperative countries

The reporting requirement will apply for the first time in the tax returns to be filed in 2019 covering fiscal year 2018.

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