Managers of Wealth

As the countdown begins, JHC commences FIGARO MiFID II project

JHC Systems has started the project to deliver the changes needed to FIGARO, its leading wealth management platform to accommodate the MiFID II regulations.

HSBC's attempts to clean up US business practices are falling short, report says

A 1,000-page report by the US Department of Justice to force HSBC to operate to higher standards says bank is not improving the way it does business fast enough

Offshore law firm promotes two Mauritius attorneys

Across the firm’s offices they have announced a total of seven promotions, including one attorney to partner and six to counsel.

Internationally mobile employees - Changes to Taxation of Share Awards

The UK is changing the way in which it taxes share options and share awards held by employees who move between countries.

Wealth managers risk enforcement actions as FCA 'runs out of patience'

Daryl Roxburgh, global head of software provider BITA Risk, noted firms have largely moved on from Excel-based suitability standards to “more systematic” processes, but said the area remains a core focus for the FCA.

Tax avoidance investigations up by a quarter as HMRC rakes in extra £39m by targeting the rich

The Finance Team is part of HRMC’s High Net Worth Unit, which targets high earners in private equity, investment banks, hedge funds and other funds.

Central bank warns ABN Amro on corruption risks: FD

The Dutch central bank has been highly critical of the way ABN Amro tackles the risk of corruption in Russia

Ashurst and Slaughters advise on RBS sale of Coutts International

Ashurst and Slaughter and May have won lead roles advising on the Royal Bank of Scotland's sale of its overseas private banking and wealth management business to Union Bancaire Privée

EU concludes negotiations with Switzerland on landmark tax transparency agreement

The European Commission has announced the conclusion of negotiations on an ambitious new tax transparency agreement with Switzerland

ABN Amro Initial Offering Is Delayed Amid Pay, Probe Queries

The cabinet had planned to decide on how to proceed with the sale in the first quarter.

Swiss bankers expected to get probation for tax fraud

Two former Swiss bankers are expected to avoid jail time when they are sentenced for their roles in a tax fraud scheme that helped U.S. customers hide billions of dollars in assets.

State Ministers Hold Meeting with Swiss State Secretary on Tax Evasion

The meeting, which was concluded earlier on Thursday, was also attended by Justice Minister Nikos Paraskevopoulos and the President of the Parliament Zoi Konstantopoulou.

Changing Domicile: Satisfying the Burden of Proof When Moving Abroad - Withers

Historically taxpayers have faced difficulty overcoming a presumption against a change in domicile to a foreign jurisdiction

The Myth About Money Managers and Divorce

According to Wall Street lore, Citadel CEO Kenneth Griffin’s marital troubles should mean he’s a bad bet. That idea needs rethinking

British Virgin Islands issues updated FATCA Guidance Notes

The update reflects a number of developments since issue of the first version.

Italian voluntary disclosure – Issues likely to be faced by trustees with Italian resident settlors/beneficiaries and/or Italian assets

As previously reported, Italy has launched a voluntary disclosure programme along the lines of those already in existence in the UK and the US. The new disclosure facility will come to an end on 30 September 2015.

Legal,Regulation,Tax & Compliance