Managers of Wealth

UBS Named as Bank for Shell Company of Roger Ng’s Wife

In the latest development, FBI special agent Sean Fern took the stand and testified about Lim’s role in setting the shell entity using a raft of emails as proof.

Ill-gotten wealth and the estate taxes of the Marcoses

In addition, there were other court decisions that established the existence of ill-gotten wealth by the Marcoses

5 instant reactions from KPMG on SEC proposed rules

ESG engagement has been driven by investor demand and CEOs seeking to gain an ESG advantage in the marketplace with talent and customers.

Regulation fatigue and inflation top worry list for asset management CEOs

BNY Mellon’s Hanneke Smits, Feri’s CEO Marcel Renné, and ALFI’s deputy director Marc-André Bechet outlined the biggest challenges investors face in 2022

Russian Accounts: Good to Have a Swiss Passport!

Switzerland's adoption of the EU's sanctions against Russia ensnared around 870 individuals and 62 companies, but there are wider implications for those holding Russian passports or maintaining a residence in Russia.

How to improve the EU’s AML Package on beneficial ownership registration

This report contains the Tax Justice Network’s proposed amendments to improve the EU’s draft Anti-Money Laundering (AML) Package with regard to beneficial ownership registration.

Qealth manager banned for fraud

Was found to have transferred clients’ money to his personal account.

Experts warn that a wealth tax in South Africa is coming

SARS intends to go after ‘unexplained wealth’, and has proposed that all provisional taxpayers with assets above R50 million be required to declare specific assets and liabilities at market values in their 20203 returns.

Conflicts Of Interest And Controversial Clients: Henley & Partners’ Caribbean Business

That responsibility ultimately lies with governments, she said, but firms operating these programs like Henley & Partners should be obliged to follow anti-corruption and anti-money laundering laws.

New cross-border double taxation agreement between Switzerland and Italy: Updates

The agreement will apply as from 1 January 2023

(Not so) Unexplained Wealth Orders

This new provision to allow UWOs to be made against person who don’t actually hold the property is designed to prevent people hiding behind complex corporate structures.

OECD announces release of commentary on Pillar Two model rules for global minimum tax

The newly released commentary on the GloBE model rules indicates that the implementation of the new rules “is envisaged by 2023.”

Former DBS manager given prohibition orders after deceiving clients into transferring S$490,000 to personal bank account

he orders took effect on Wednesday (Mar 16) after Loh was convicted of cheating and forgery offences, and using the benefits of his criminal conduct.

Isle Of Man Takes Steps To Stymie Movement Of Russian Billionaire Andrey Melnichenko’s Two Superyachts

The Isle of Man’s Minister for Enterprise, Dr. Alex Allinson, told the BBC on Tuesday that deregistering a ship means it cannot legally take to the sea.

BoE tries to tackle inflation with rate rise as 10% 'not off the cards'

The BoE had no choice but to keep raising rates.

Ukraine: Talk of Full Confiscation Risks «Rule of Law»

The UK government is discussing whether to place refugees in the mansions of wealthy Russians, effectively confiscating them.

Not All Oligarchs Sanctioned Equally

Melnichenko who resides in St. Moritz, Switzerland, joined 13 other Russian oligarchs on the EU sanctions list.

Abramovich sanctions and Chelsea Q&A

Chelsea were not told about the sanctions or the terms of the licence before they were implemented.

JFSC: 386 new Russian sanctions designations have immediate effect

Due to the increasing volume of designations and their immediate effect in Jersey, we will now be flagging their source to Industry as soon as we become aware via our website and shared on our social media channels.

Directors’ considerations amidst geopolitical unrest

We highlight the growing considerations of company directors having business operations, directly or indirectly in Eastern Europe.

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