Managers of Wealth

Netherlands Asks Bankers to Swear to God

I swear that I will endeavor to maintain and promote confidence in the financial sector

New Luxembourg leaks reveal James Packer’s PBL in secret Swiss tax deal

A secret deal with the Swiss government negotiated by media group Publishing and Broadcasting Ltd when James Packer was chief executive set a tax rate of less than 2.15 per cent on PBL’s intra-company loans.

A Variable Outlook: Developments in Bankers’ Pay by King & Wood Mallesons

Financial sector feathers have been seriously ruffled by a succession of developments which arrived, like overdue buses, in a rapid sequence of three.

Swiss attorney general brings charges in HSBC Swiss bank case

The prosecutor did not name the employee.

RCA Bermuda Symposium - Give the Gift of Bermuda

Appleby Sponsoring RCA's Regulation, Operations and Compliance Bermuda Symposium on 22 - 24 April 2015

Legal Market Stabilizes, Poised for Growth in 2015

A 2015 Client Advisory issued by Citi Private Bank detailing the state of the legal industry finds that large law firms are in a better position to hope for steady revenue growth from 2014 into next year.

FATCA and Trustees: Part I - Maples and Calder

Do trustees need to register with the US Internal Revenue Service (the "IRS") before 1 January 2015? Does registration need to be made in respect of a trust?

Israel's Leumi sees 1.4 bln shekel U.S. tax settlement by mid-Jan

Leumi has been negotiating with U.S. authorities for months

Taxing New Rules Make Hiding Cash Harder

More paperwork as governments force wealthy to declare overseas assets.

Swiss charge ex-HSBC staffer with industrial espionage

Switzerland has charged a former computer analyst at HSBC's private bank in Geneva with industrial espionage and breaching the country's secrecy laws for passing confidential client data to foreign authorities.

Bermuda's New Charities Act 2014 Operative This Month - Appleby

The Act repeals and replaces the Charities Act 1978 with substantial amendment and complements Bermuda’s sensible, well-regarded legislative framework for the establishment of charities.

Withers Regulatory Watch News - December 2014

Welcome to the December issue of Withers' Regulatory Watch.

Tax revenues rebounding from the crisis but tax mix varying widely, OECD says

Tax burdens and revenue collection in advanced economies are reaching record levels not seen since before the global financial crisis, but the tax mix continues varying widely across countries, according to new OECD research.

FINRA Fines 10 Firms a Total of $43.5 Million

FINRA's research analyst conflict of interest rules make clear that firms may not use research analysts or the promise of offering favorable research to win investment banking business

Former Swiss Banker to Stand Trial Over WikiLeaks Data

Prosecutors are seeking a prison sentence of three and a half years for Elmer, 59, who embarked on a whistle-blowing campaign after leaving the bank more than a decade ago.

Say cheese: Swiss eyes on ‘tax haven’ Aussies

THE tax office is poised to exchange information with Swiss officials relating to five super wealthy Australians believed to be hiding cash in the notorious tax haven.

OECD’s Multilateral Competent Authority Agreement for the Implementation of Automatic Exchange of Tax Information

All Appleby jurisdictions are expected to start exchanging information under the MCAA by 2018.

Bill Calls for Moratorium on Bitcoin Regulation

A bill has been introduced in the House of Representatives which seeks a five year moratorium on statutory restrictions or regulations on cryptocurrencies such as Bitcoin.

StanChart sets up financial crime committee after U.S. scrutiny extension

The new committee will assume responsibility from next month for policies, procedures, systems and controls for anti-money laundering

Two of UK's oldest private client law firms to combine

‘It is our responsibility to keep evolving so that we continue to be a leading Lincoln’s Inn law firm for many generations to come.

Legal,Regulation,Tax & Compliance