Managers of Wealth

IQE becomes first Isle of Man member of TISE

IQE Securities Sponsor Services Limited is a wholly owned subsidiary of IQE Limited, the international fiduciary services provider.

Estera continues expansion plan with acquisition

Mark Huntley, CEO of HFSG, commented on the acquisition: ‘This transaction marks a significant development for Heritage, our clients and employees.

Banks in Asia hit by long arm of EU’s Mifid 2 rules

European investor protection rules set to push up compliance costs elsewhere

FATCA Update: FFI Agreement Renewal Function Now Available

Along with system fixes, the update within the registration application includes the removal of the classification of “limited” for financial institutions and branches.

New Bamako Cardinal Allegedly Conceals Millions in Switzerland

Funds were then channeled from those through different banks before being eventually placed at seven accounts with the HSBC Private Bank in Geneva, Switzerland.

Coming to terms with CRS in Asia

CRS is, in every respect, singular.

Revised Swiss VAT Rules To Enter Into Force In 2018

The aim is again to reduce the competitive disadvantages faced by domestic companies.

IoM considers changes to commission disclosure rule

The change is likely to be announced in response to industry feedback to the consultation on the latest draft, which ends 16 June 2017.

KPMG delivers new bombshell to partners over taxman's unpaid bill

KPMG wrote to hundreds of UK partners last week to outline tax bills running to tens of thousands of pounds, Sky News learns.

In Securities Fraud Case, Prosecutors Allege Novel Money Laundering Scheme to Circumvent FATCA Reporting Obligations

The scheme was designed to launder a portion of the fraudulent proceeds from the stock manipulation scheme from the United States through offshore accounts

Celebrity film scheme to appeal £700m tax case decision

"Innocent investors went in on advice and if anyone has been immoral and unfair it's HMRC," reports UK newspaper the Daily Mail.

FCA bans jailed former Schroders trader

The FCA prohibited Clarke from performing any function in relation to regulated activities.

Thousands of British expats could face tax penalties for undeclared cash: report

Banks, building societies, insurance companies and investment companies are required to provide HMRC with data about their overseas clients’ accounts — including balances — by the end of today.

Register of ownership of UK property through overseas companies - privacy in debate

The introduction of the government's People with Significant Control (PSC) register on 6 April 2016 has resulted in greater transparency of ownership of UK companies

Prevention Better Than A Cure?

A company will commit the UK tax offence if a person associated with it criminally facilitates evasion of UK tax by another.

Cyprus offers tax exemption on worldwide income

The concept of 'domicile' already existed under Cypriot legislation by way of the Wills and Succession Law, in which it was used to determine which jurisdiction should govern the succession of a deceased person.

UBS: Questionable IPO Activities in Hong Kong

His former employer has now reported one of the cases to SFC, the local financial market supervisor, «Bloomberg» reported.

Super-rich evade on average nearly third of their due tax

Chance of assets being hidden rises very sharply with wealth, finds economists’ study based on Panama Papers data

The fight against offshore tax evasion continues: CRS disclosure facility delivers first results

Practitioners, ‎financial advisers, civil society and anyone with knowledge of schemes that purport to circumvent the application of the CRS are strongly encouraged to come forward and make use of this facility.

The Bahamas decides to sign multilateral tax information sharing convention

The Convention is the most comprehensive multilateral instrument available for a wide range of tax co-operation to tackle tax evasion and avoidance, and guarantees extensive safeguards for the protection of taxpayers' rights.

Legal,Regulation,Tax & Compliance