Managers of Wealth

The importance of upholding a uniform Fiduciary Standard of Care

A procedural prudence standard and a suitability standard are similar in that they both require the fiduciary to demonstrate they are acting in best interests of another.

China Loosens Wealth Management Reins

To add sub-branches in China foreign banks will in future only need to obtain one approval instead of two as was previously the case, aligning the regulation with local Chinese banks.

$100m fortune is worthless when you’re in a jail

Roomy Khan, who was jailed for financial crime in US, says a professional culture encouraging fraud led her to insider trading

Chinese Conglomerates in Distress

This mostly happens with cryptocurrencies or with Alipay, the Chinese equivalent of Paypal.

Credit Suisse in Venezuelan Scandal

The news comes as Venezuelans struggle with extreme shortages of essentials like food and medicine.

Macquarie Private Wealth accused of 'pumping and dumping' Cleveland Mining stock

The allegations were made during the morning session of hearings that featured Cleveland Mining managing director David Mendalawitz, board member Glenn Simpson and private investor Brendan James.

Time Running Out For Offshore Tax Dodgers

RTC has no minimum cut-off value, so all taxpayers with unpaid offshore tax need to make a disclosure.

Digital currencies inquiry launched

It will examine the potential impact of distributed ledger technology – such as blockchain – on financial institutions, including the central bank, and financial infrastructure.

Supreme court narrows whistleblower protections under dodd frank

The Court’s opinion in Digital Realty v. Somers[2] resolved a circuit split between the Ninth and Second Circuits, on the one hand, which had agreed with the SEC’s interpretation, and the Fifth Circuit, on the other.

Appleby advises Butterfield in connection with its acquisition of Deutsche Bank's Global Trust Solutions business

It also provides us with a physical presence in Asia, which we view as a growth market for Butterfield.

HSBC’s Swiss private bank faces $1.5bn fine for alleged tax evasion

The bank has set aside $604m to settle the probes and said it is cooperating with authorities.

Indian police arrest sixth bank official in $1.8b fraud case

The branch is at the center of the alleged fraud involving firms tied to diamond merchants Nirav Modi

How to Hide a Russian Fortune on the French Riviera

Next month, the European Union is due to review this blacklist.

FCA calls for help embracing regtech

To aid regulatory reporting

Nine Carey Olsen lawyers recognised by Chambers Global

Carey Olsen's Cayman Islands team was promoted in the corporate and finance category of the rankings

HSBC Says Swiss Bank Tax Probe Could Cost More Than $1.5 Billion

The bank paid the French government 300 million euros ($370 million) in November to settle allegations that it helped clients hide assets from local tax authorities.

Monaco resident Russian Billionaire Continues His Epic Legal Crusade Over the ‘Largest Art Fraud in History’

Rybolovlev’s latest efforts constitute something of a one-two legal punch.

Switzerland and Saudi Arabia sign double-taxation agreement

The Swiss minister had arrived in Riyadh on Saturday for a four-day visit to the Middle East, accompanied by Swiss State Secretary for International Financial Matters Jörg Gasser, as well as representatives of some dozen Swiss financial institutions.

Finma publishes ICO guidelines

Creating transparency at this time is important given the dynamic market and the high level of demand. Each case must be decided on its individual merits

HSBC hopes to leave era of scandals behind

The bank has been held back by huge fines and hasty acquisitions, but believes it is now in a position to grow again

Legal,Regulation,Tax & Compliance