03/22/2018
Spy Scandal Due to Swiss Private Bank J. Safra Sarasin?
The trio are accused of handing over confidential client data to German officials – which they deny. If convicted, they face sentences of up to three years in jail.
Legal,Regulation,Tax & Compliance
03/22/2018
Warranty removed in update of Guernsey’s Private Investment Fund
The warranty has been replaced with a declaration, which places a lesser burden on the licensed manager.
03/22/2018
Crooks are impersonating Monaco’s elite including Prince Albert II to scam money from high-flying victims
‘For several weeks, individuals who are part of organised groups, have been stealing the identities of high-ranking personalities in the principality and trying to establish personal contact with them … notably through electronic messages, S
03/22/2018
Wealth advisers assess impact of Trump tax overhaul
Wholesale changes to the US tax have significant implications for investors
03/22/2018
UBS to pay $230m fine for toxic securities sale in New York
Additional resources will be dedicated to helping communities transform their code enforcement systems and invest in land banks.
03/22/2018
An airline is banning larger people from business class — and it's part of a trend sweeping the industry
Thai Airways International announced a 56-inch waistline limit for passengers sitting in business class on its Boeing 787-9 aircraft, according to the Bangkok Post.
03/22/2018
Legal battles loom between broker-dealers and departing advisers
As big names leave the industry’s adviser pact, lawsuits follow
03/22/2018
Second Real Madrid star accused of tax evasion
The Madrid court in charge of the investigation reopened the case in 2017, asserting that the allegations against Alonso had been “sufficiently substantiated”.
03/22/2018
Under Advisement: SEC Scrutinizes Wealth Management Industry
The SEC has also made a series of announcements aimed at addressing misconduct by investment professionals in their dealings with retail investors.
03/22/2018
Swiss Global looks to set up offices in Middle East and Asia
The announcement will see the group open news offices in Europe, Middle East, and the Far East.
03/22/2018
Authorities seize control of bank at center of Malta corruption scandal
Maltese authorities took control of Pilatus Bank that is at the center of a scandal exposed by the murdered journalist Daphne Caruana Galizia
03/21/2018
Swiss prosecutors charge Germans with industrial espionage - report
The Zurich prosecutor’s office was not immediately available for comment, while a German foreign ministry official said it was familiar with the case but that it does not comment on ongoing judicial processes.
03/21/2018
US tax reforms create opportunities and challenges for wealthy Asians
“Our corporate tax rate was, up until December 22, the highest in the developed world at 35%,” he says, pointing to the ‘why’ companies will look at the US differently now.
03/21/2018
KPMG targets M&A market with Nuix’s powerful data analysis capabilities
KPMG’s deployment of Nuix software will facilitate this process and mitigate potential risks, such as litigation, non-compliance and increased cost and disruption to business as usual.
03/21/2018
UBS ordered to pay $204,000 in Puerto Rican bond claim
Finra panel says firm was liable for breach of contract and unsuitability
03/21/2018
Wells Fargo Denies FBI Reviewed Wealth Unit
Questioning was conducted by company-hired lawyers, not the FBI, an exec says, but nonetheless ‘clients are commenting on this,’ says Danny Sarch.
03/21/2018
SFC reprimands and fines UBS Securities Asia Limited $4.5 million in relation to facilitation trading activities
It is also expected to maintain and keep sufficient records to explain its client facilitation business.
03/21/2018
Expats ‘considering bankruptcy’ in wake of repatriation tax
A US tax aimed at multi-nationals hoarding cash offshore is forcing clients to consider insolvency.
03/20/2018
G20 urged to adopt common regulations for cryptocurrencies
It is understood discussions on cryptocurrencies will take place across both days between finance officials from G20 members.
03/20/2018
Nigeria Corruption Reaches Swiss Banking
The two companies rejected the claims.