Managers of Wealth

Malta fails to implement anti-corruption strategy called for by European watchdog

This report was adopted by GRECO at its 88th Plenary Meeting

Geldards scoop Private Client Team of the Year at Wales Legal Awards

The team toasted their success along with the other shortlisted finalists at an awards evening at Mercure Cardiff Holland House Hotel on Friday 20th May.

New European ESG Reporting Service for Asset Managers Launched by Broadridge Ahead of Upcoming SFDR Requirements

With a track record of over two decades of subject matter expertise, the solution is based on already established processes for managing regulatory reporting for funds and an existing dissemination network to industry end points.

Switzerland and Singapore conduct financial dialogue and agree on joint statement of intent to promote data connectivity

The agreement on the statement of intent was reached within the framework of the regular financial dialogue between Switzerland and Singapore

G7 countries cost the world $115 billion in lost tax – African finance ministers call for a UN tax convention

Three G7 countries ranked among the top 10, with the US in 1st, Japan in 6th and Germany in 7th.7

Bedell Cristin advises on Family PIF conversion

We have found the Guernsey PIF rules to be well suited for structures to manage multi-generational family wealth

PwC’s Global Economic Crime and Fraud Survey 2022

Protecting the perimeter: The rise of external fraud

EU Considers Blacklisting UAE After ‘Dubai Uncovered’ Leaks

“It is clear that the United Arab Emirates facilitates money laundering at a grand scale. This is highly damaging to the EU and cannot be tolerated.”

New principles for charitable trustees exercising their powers of investment

The case was brought by the trustees of two charities – the Ashden Trust and the Mark Leonard Trust – whose principal purposes are environmental protection and improvement and the relief of poverty.

US tops financial secrecy ranking as G7 countries upend global progress on transparency

The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention

CHF 4bn IAM receives Finma licence and looks for new WMs

The company added that it is well positioned to play an active role in the industry’s consolidation.

Goldman Agrees to Settle Suit

Settlement funds will be used to boost compliance at bank

UBS Data Thief Headed for Prison

In 2020, the verdict was upheld by an appeals court, and was again by the Swiss Federal Court, dismissing an argument that the lower appeals court did not correctly conduct the proceedings.

Swiss Government Unblocks Some Russian Assets

Since April 7, 2.2 billion francs had been newly reported while 3.4 billion francs blocked as a precaution, have been released.

Ex-UBS banker loses appeal over selling client data to Germany

It dismissed his argument that the lower court had conducted proceedings in an inadmissible manner.

The Italian VAT regime on the Leasing and Chartering of Pleasure Vessels

The new amendments have been acted to address objections from the European Commission

‘Ghost dom’ tax loophole hampering efforts to stop sanctioned Russian money flowing into UK

One official working on British sanctions policy told The Independent that the UK’s tax system, and specifically “ghost doms” and non-doms, “severely limited” their ability to track and trace individuals’ income streams

Pandora Papers shed light on ‘gatekeepers’ of dirty money

MONEYVAL rebuked governments across Europe for failing to combat money laundering or police lawyers, accountants and other professionals who facilitate financial crime.

Credit Suisse is an Ideal Target

The accusers maintain that Ivanishvili is a Georgian and French citizen and has no connection to any sanctions person or organization.

GFG Facing UK Insolvency Hearing After Credit Suisse Ends Talks

The bank granted Gupta additional time by postponing hearings but has now broken off talks, which will lead to the commencing of insolvency hearings.

Legal,Regulation,Tax & Compliance