Managers of Wealth

Banks explain extra information requests

The Bermuda Bankers’ Association said that banks are now asking for additional information and documentation, from both new customers and existing ones.

Cayman Islands Issues OECD Common Reporting Standard Regulations - Mourant Ozannes

On 16 October 2015, the Cayman Islands introduced The Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations, 2015 (the Regulations) to implement the CRS.

NZ banks no exception to sweeping job cuts, branch closures

The amount of capital being provided to new start-ups and financial technology firms meant the industry was not far from causing real disruption

Israel joins international efforts to boost transparency and end tax evasion

Israel has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, making it the 91st jurisdiction to join the world’s leading instrument for boosting transparency and combating offshore tax evasion.

Deutsche Bank's Swiss Unit to Pay $31 Million in Tax Case

The Department of Justice has announced that Deutsche Bank (Suisse) SA (Deutsche Bank Suisse) reached a resolution under the department’s Swiss Bank Program. Deutsche Bank Suisse will pay a penalty of more than $31 million.

The road less travelled by Thomas Zeeb, CEO of SIX Securities Services

The journey to authorisation is now (almost) over.

Swiss Bank Inks Tax Evasion Deal

Will pay a penalty of more than $7 million.

Offshore Tax Bulletin - Deloitte

October and November 2015

Africa's largest law firm goes from strength to strength as it launches in Ghana

Ghana offers a wide range of business and investment opportunities and the country has an abundance of agricultural, mining and human resources, among others.

BTG Pactual CEO Esteves Arrested In Brazil's Graft Probe, Police Say

Esteves is under temporary arrest for a maximum of five days, according to an official for the federal Supreme Court, which authorized the action.

Advisers need to stay on top of tax game as IRS eyes audits for millionaires

The tax collection agency may re-evaluate high-income taxpayers and expand to ultra high net-worth

Russian Billionaire’s Battle With Art Dealer Draws In HSBC

Bank accounts are subject of a complaint related to fight

Tax treaties: OECD releases latest MAP statistics

The MAP reporting framework and the definitions of terms used in reporting, as well as the other results of the proposals in the Committee on Fiscal Affairs' (CFA) 2004 report on improving the resolution of cross-border tax disputes, are described in

Black money probe: India seeks Swiss help in probe...

The Swiss tax department has made these disclosures in two separate notifications published today in the Switzerland government's federal gazette.

Twelve Chinese hedge fund houses unreachable by phone, text, email - fund association

China's hedge fund industry has grown rapidly over the past several year

UK Tax Disclosure Facilities - Time is running out - Deloitte

The Crown Dependency and Liechtenstein Disclosure Facilities finish on 31 December 2015, so after that date it will no longer be possible to register for the favourable treatment afforded by these facilities.

HMRC to launch consultation on extending PSC register

Update - HMRC has announced that it will launch a consultation on extending the PSC register to include information on controlling persons in non-UK companies investing in high value UK property. The level of detail to be held is unclear at present.

LPAs, high net worth individuals by Withers

In the recent case of XZ [2015] EWCOP 35 Senior Judge Lush of the Court of Protection criticised the Public Guardian for refusing to register an LPA for property and financial affairs of an international high net worth individual.

The New 4th AML Directive by Eduard Koster, King & Wood Mallesons

As within other areas of the regulation, the European Union wants to further strengthen the fight against money laundering and terrorist financing (AML/TF), to ensure the soundness, integrity and stability of credit and financial institutions, and to ensu

2015- The end of tax neutral jurisdictions

The EU Parliament’s resolution also called for information on beneficial ownership of companies

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