Managers of Wealth

The OECD has citizenship programmes in its sights

They remain wise words.

MEPs continue crackdown on tax avoidance

MEPs have taken EU finance ministers to task over their decision to remove eight countries from the tax haven blacklist just one month after it was first published

Wells Fargo reviews wealth business for possible customer abuse: filing

The U.S. Justice Department instructed Wells Fargo in late 2017 to investigate its wealth management business

UK regulator declares DFM insolvent

The Financial Conduct Authority has declared discretionary fund management firm Beaufort Securities and its clearing arm, Beaufort Asset Clearing Services, insolvent.

Important Changes to Cayman Islands Regulations and Compliance for investment funds

The changes that have been made to the Cayman Islands anti-money laundering (AML) regime are to bring Cayman in line with international best practice and are a welcome update to the financial services landscape in Cayman.

Merger creates new global law firm

The merger brings together two organisations widely recognised for their innovative approaches to client service, into one global, fully financially integrated law firmers involve a Swiss verein structure, whereby firms share branding but keep their profi

US Prosecutors Focus on Antiquities - Withers

Also on January 5, 2018, investigators from the Manhattan DA’s office seized six artifacts from New York antiquities dealers Phoenix Ancient Art.

Using arbitration to resolve art related disputes - Withers

In arbitration, disputes are resolved with binding effect by a person or persons acting in a judicial manner in private, rather than by a national court of law

HM Treasury Advisory Notice: Money Laundering and Terrorist Financing controls in higher risk jurisdictions

Requirement to apply Enhanced Due Diligence for higher risk jurisdictions

J.P. Morgan and Deutsche Börse partner for asset management

The two bond index ETFs enable investors to participate in the performance of euro-denominated government bonds

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.

Legal,Regulation,Tax & Compliance