Managers of Wealth

OECD requests comments on reporting framework for crypto-assets and amendments to CRS

The OECD announcement indicates that the CARF would cover “crypto-assets that can be held and transferred in a decentralised manner

Ogier named best offshore firm

This year, more than 20,000 votes were cast in total, and the winners were announced at gala event in London on Thursday 24 March.

Deutsche Bank stops accepting rich Russian expatriates as clients

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict.

Ukraine: Implementation of further EU sanctions

The Federal Council decision of 25 March means that Switzerland remains in line with the measures imposed by the EU

Bermuda court decision: Credit Suisse announcement

Credit Suisse has previously taken reserves against this matter and intends to pursue all available legal actions.

Credit Suisse loses case over banker who stole from billionaire clients

Bank expected to pay at least $500mn in lawsuit brought by former Georgia prime minister

FINMA considers recovery and resolution planning by the “too big to fail” institutions to be well on track – but there are still gaps

FINMA considers the emergency plans of the domestic systemically important banks PostFinance, Raiffeisen and Zürcher Kantonalbank not to be ready to implement for the time being.

Increased Crackdown on Citizenship and Residency by Investment Programs

A breakdown of three recent major developments.

Billions in Russian Assets Freezing at Swiss Banks

While information on individuals or individual assets could not be disclosed, Bollinger confirmed that frozen assets included properties in tourist regions.

Alisher Usmanov: Russian billionaire's UK homes beyond reach of sanctions after being 'placed in trusts'

"All of (Alisher) Usmanov's properties were settled into the irrevocable trusts long before the sanctions came," a spokesman says.

Wall Street Is Scrambling For the Exits in Moscow — and Billions Are at Stake

A dozen lenders including Raiffeisen Bank, Societe Generale and Citigroup have about $100 billion of combined exposure to Russia

UBS Named as Bank for Shell Company of Roger Ng’s Wife

In the latest development, FBI special agent Sean Fern took the stand and testified about Lim’s role in setting the shell entity using a raft of emails as proof.

Ill-gotten wealth and the estate taxes of the Marcoses

In addition, there were other court decisions that established the existence of ill-gotten wealth by the Marcoses

5 instant reactions from KPMG on SEC proposed rules

ESG engagement has been driven by investor demand and CEOs seeking to gain an ESG advantage in the marketplace with talent and customers.

Regulation fatigue and inflation top worry list for asset management CEOs

BNY Mellon’s Hanneke Smits, Feri’s CEO Marcel Renné, and ALFI’s deputy director Marc-André Bechet outlined the biggest challenges investors face in 2022

Russian Accounts: Good to Have a Swiss Passport!

Switzerland's adoption of the EU's sanctions against Russia ensnared around 870 individuals and 62 companies, but there are wider implications for those holding Russian passports or maintaining a residence in Russia.

How to improve the EU’s AML Package on beneficial ownership registration

This report contains the Tax Justice Network’s proposed amendments to improve the EU’s draft Anti-Money Laundering (AML) Package with regard to beneficial ownership registration.

Qealth manager banned for fraud

Was found to have transferred clients’ money to his personal account.

Experts warn that a wealth tax in South Africa is coming

SARS intends to go after ‘unexplained wealth’, and has proposed that all provisional taxpayers with assets above R50 million be required to declare specific assets and liabilities at market values in their 20203 returns.

Conflicts Of Interest And Controversial Clients: Henley & Partners’ Caribbean Business

That responsibility ultimately lies with governments, she said, but firms operating these programs like Henley & Partners should be obliged to follow anti-corruption and anti-money laundering laws.

Legal,Regulation,Tax & Compliance