03/06/2018
Cayman Islands’ Anti-Money Laundering regime updated - Appleby
Entities that are newly subject to the AML Regulations have until 31 May 2018 to implement appropriate AML procedures or to implement a delegation/reliance arrangement.
Legal,Regulation,Tax & Compliance
03/06/2018
Sir Bradley Wiggins put money into ‘shocking’ Cup Trust tax avoidance plan
The charity was closed down by the Charity Commission last year after this newspaper exposed how it was used by wealthy donors in a scam designed to avoid tens of millions of pounds in tax.
03/05/2018
The OECD has citizenship programmes in its sights
They remain wise words.
03/02/2018
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
03/02/2018
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
03/02/2018
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.
03/01/2018
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.
02/28/2018
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
02/28/2018
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.
02/28/2018
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
02/28/2018
HM Treasury Advisory Notice: Money Laundering and Terrorist Financing controls in higher risk jurisdictions
Requirement to apply Enhanced Due Diligence for higher risk jurisdictions
02/28/2018
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
02/26/2018
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.
02/26/2018
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.
02/26/2018
$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
02/26/2018
Chinese Conglomerates in Distress
This mostly happens with cryptocurrencies or with Alipay, the Chinese equivalent of Paypal.
02/23/2018
Credit Suisse in Venezuelan Scandal
The news comes as Venezuelans struggle with extreme shortages of essentials like food and medicine.
02/22/2018
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.
02/22/2018
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.
02/22/2018
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.