Managers of Wealth

Thousands of managers "may be breaching Swiss rules"

The firm estimates that it will require a minimum of €1 million a year for each independent asset manager to become registered independently

RBC Wealth Management fined $1 million for lax oversight of sales tactics

RBC previously made unspecified payments to more than 100 customers who sued the firm in California.

Whistleblower receives more than £1m

The US Securities and Exchange Commission has paid a compliance officer between $1.4m and $1.6m

FATCA - Impending Deadlines for BVI Financial Institutions

This article provides a reminder of the impending deadlines and action that is required for those BVI entities that are classified as “Foreign Financial Institutions” for the purposes of FATCA.

Crédit Agricole loses suspicious transaction case

No money laundering charges or allegations of money laundering have been brought against Mr Symes or the bank.

The fake Ferrari shares being flogged by sham adviser, exposed by Telegraph

Special investigation: Just as British savers are being told to be on "red alert" for scam investments, Katie Morley uncovers the disturbing truth about a firm claiming to sell Ferrari IPO shares

Switzerland To Amend Tax Treatment Of PEs

Switzerland is to amend federal tax legislation to prevent the double taxation of certain permanent establishments (PEs) located in the country

Judge Rules Divorced Wives to Get a Job… Or Perhaps Not?

Having taken a much fairer stance in their approach to capital distribution on divorce, Judges are now also moving away from ‘joint lives’ spousal maintenance orders (which provide on-going financial support for the financially weaker party) t

China Fines Mercedes $56Mln for Fixing Luxury Car Prices

Luxury German car maker Mercedes is hit by a 350 million yuan (almost $56.5 million) fine by regulators over price fixing in the burgeoning Chinese market

Deutsche Bank hit with largest Libor fine in history

The fine is so large because Deutsche Bank also misled the regulator, which could have hampered its investigation.

Finra Orders RBC to Pay $1.4 Million For Selling Risky Investment Products

Fines and restitution relate to the improper sales of structured investment products to more than 200 retail investors

DOL Rule, Anti-Money Laundering Top Priorities for Raymond James

While it’s too early to report specifically where Raymond James stands on the new proposal, Curtis said on the surface, the new DOL proposal appears to be significantly better than the one put forward in 2010.

Bank signs deal over £2m sex discrimination claim

Details of the payout were not disclosed after the agreement was struck just hours after it was due to go into its second day.

Fraudster conned £17k from City firm to buy wedding and honeymoon

She stole money from Insight Investments on the day after she started working there

Bank Of America Braced For £10m FCA Fine

Sources close to the situation confirmed that none of BAML's clients had suffered any financial losses as a consequence of the firm's failings.

British man held over £500bn Wall Street 'flash crash'

The CFTC Complaint charges the Defendants with unlawfully manipulating, attempting to manipulate, and spoofing — all with regard to the E-mini S&P 500 near month futures contract

FCA fines Merrill Lynch Intl £13m for misconduct

The size of the fine – the highest imposed for transaction reporting failures to date - reflects the severity of MLI’s misconduct, failure

BlackRock to pay $12 mln in SEC conflict of interest case

A top senior compliance officer at BlackRock Advisors at the time, Bartholomew Battista, agreed to a related $60,000 penalty, the SEC said.

Appleby Aviation Update

Bringing together the wealth of experience and diverse skills of our legal and fiduciary teams around the world.

Offshore accounts case: HSBC account holders fear attachment of their assets

April is turning out to be the cruellest month for HSBC Geneva account-holders in India.

Legal,Regulation,Tax & Compliance