Managers of Wealth

The Wealth Finance Brief - Field Fisher Waterhouse

In this quarter's edition of The Wealth Finance Brief we provide some practical guidance for banks and other financial institutions in the private wealth sector

Millions from golfer Phil Mickelson linked to money laundering, gambling case: report

Phil Mickelson may have more explaining to do after a report by ESPN’s “Outside the Lines” named him as the bettor whose $2.75 million led a former handicapper to plead guilty

Mifid II ruffles fund research practices

With Mifid II on the horizon, what impact will the new rules have?

Citywealth names eight Ogier private client specialists on Leaders List 2015

Sally Edwards, who heads Ogier’s Private Client and Trusts team, is ‘the guru of the Jersey trust world’ according to a client testimonial shared by Citywealth. She is named on the Honours List and as a Citywealth Power Woman.

Greek minister slams Swiss over tax evasion

Greek Finance Minister Yanis Varoufakis has taken a swipe at Switzerland for providing only limited information about wealthy tax evaders from cash-strapped Greece who are believed to have stashed billions of euros in Swiss banks.

Potential Changes to Creditors’ Rights in the BVI – Administration Orders

The BVI is once again considering proposals to bring into force provisions which permit the making of administration orders in relation to BVI companies.

Offshore tax zones cost developing countries $100 bln a year - UNCTAD

"Tax avoidance practices therefore are responsible for a significant leakage of development finance and resources," UNCTAD Secretary-General Mukhisa Kituyi told a news conference.

Offshore tax zones cost developing countries $100 bln a year -UN

Developing countries are losing around $100 billion a year in revenues because foreign investors are channelling profits through offshore zones to avoid tax

Ogier is named Offshore Law Firm of the Year 2015

2014 was an exceptionally strong year for the firm

Ex-UBS rogue trader Kweku Adoboli is out of prison

The FT reported that during his time behind bars, Adoboli was held in four different prisons. He was held at Wandsworth in London ahead of his trial.

Cyprus trust plus Panamanian foundation – an unrivalled stucture

As far as one can remember and for as long as tax laws have been in existence, there has been a lot of speculation about and examination of structures asking how these can best be implemented to provide its users with the best possible tax planning soluti

Mauritius deepens its commitment to fight international tax avoidance and evasion

It is the seventh member of the African Tax Administration Forum to join the Convention and becomes the 87th jurisdiction participating to this truly global instrument to fight international tax avoidance and evasion.

Follow the money: inside the world's tax havens

From the Cayman Islands to Jersey, tax havens are busier than ever – a secretive world of offshore accounts and shell companies. Nothing to do with you? Then you win my Hermit of the Year prize

PRA bans bonuses for management of tax-payer backed banks

Following responses to the consultation paper, the PRA and FCA will now explore further the option of requiring buy-out awards to be held in a form that permits them to be subject to malus by the previous employer.

Offshore Banks Reveal Account Data, As IRS Amnesty For Many Involves 50% Penalty

This higher penalty was created as part of the June 2014 OVDP reforms

'Flash crash' trader linked to network now under investigation

The NAV Sarao Milking Markets Fund was soon registered in Mauritius as part of Cosgrove's financial network.

IRELAND: Income tax revenue reduces as number of high earners falls

Income tax revenue from high earners fell by 4.4% in 2013 due to a sharp decrease in the number of high net worth individuals liable for such tax.

Strauss-Kahn Shifts Focus From Sex Trial to Hedge-Fund Probe

He and his lawyers must shift their focus to Luxembourg and the failure of a hedge fund that bore Strauss-Kahn’s name.

Banks did not do enough to police FIFA transactions, says agency

A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at football's global governing body FIFA

Good news for entrepreneurs as Swiss vote no to IHT

The Swiss voters have decided to reject the initiative to introduce a federal inheritance tax by a vast majority of 71.7 per cent

Legal,Regulation,Tax & Compliance