Managers of Wealth

Judge orders Prince Andrew sex allegations struck from court record

Virginia Roberts’s accusations about Andrew ordered to be struck from the record as judge denied her attempt to join a lawsuit against Jeffrey Epstein

Non-dom capital gains tax comes into effect

Changes may prompt high-net worth individuals to reconsider their property investment plans

Securities Commission of The Bahamas Signs Additional AIFMD MoUs

The Securities Commission of The Bahamas has signed Memoranda of Understanding (MoUs) under the European Union's (EU) Alternative Investment Fund Managers Directive (AIFMD) with the securities regulators of Cyprus, Austria and Spain.

That line about death and taxes?

Tax Season & IRS Cutbacks Bring More Headaches for Expats

Gov’t clears Citibank to continue operating

Bank will still challenge in court last week’s decision to suspend local CEO after NML deal

Swiss ups vigil as India threatens criminal action

Switzerland has been making efforts to strengthen its bilateral cooperation with India and some other countries on tax matters, as many Swiss banks are finding themselves in regulatory crosshairs in multiple jurisdictions.

Caribbean tax haven resists UK pressure for company register

The government of the British Virgin Islands said it has no plans to establish a central register of true company owners, despite pressure from Britain to adopt the anti-money laundering and tax evasion measure.

Fiducaire Unit Facing Prosecution In Jersey

The Jersey court date has been set to start on 23 June 2015

Guernsey Is Not a Tax Haven: KPMG

KPMG Head of Tax Tony Mancini discusses the Channel Islands and the accusations that the island chain isn't tax transparent

Swiss Asset Manager Pleads Guilty in US Tax Avoidance Scheme

According to the allegations in the superseding Information and the prior indictment, as well as statements made during the plea proceeding and other documents filed in federal court in Manhattan, New York:

Swiss Private Bank to Pay $211 Million Penalty in US Tax Case

Swiss Private Bank agreed to pay $211 million and became the first Swiss bank to reach a deal to avoid U.S. Justice Department prosecution

RBC’s Bahamas unit caught up in allegations involving billionaire art dealer

Royal Bank of Canada’s wealth-management subsidiary in the Bahamas is caught up in tax fraud and money-laundering allegations

The Cayman Islands Court Provides Guidance on the Approach to Trust Mistake Cases

The Cayman Islands Grand Court has for the first time applied the principles declared by the Supreme Court of England & Wales in Pitt v Holt and Futter v Futter.

JPMorgan Execs Said Deposed in SEC Asset-Management Probe

JPMorgan Chase & Co. executives have been deposed and thousands of pages of internal documents subpoenaed as part of a U.S. investigation into the bank’s asset-management unit, according to people familiar with the situation.

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.

Legal,Regulation,Tax & Compliance