Managers of Wealth

Bermuda Seeks to Increase Regulation with Insurance Amendment Act 2014

Aligning Bermuda’s insurance framework to take into account Solvency II standards and initiatives;

Money laundering: Parliament and Council negotiators agree on central registers

The rules would also require banks, auditors, lawyers, real estate agents and casinos, among others, to be more vigilant about suspicious transactions made by their clients.

Two Swiss VAT Rule Changes From January 1

A second change deletes Article 16, paragraph 3 of the Value Added Tax Ordinance

UBS Loses Appeal in French Tax Evasion Probe

UBS to Challenge French Ruling at European Court of Human Rights

Legal Swiss Cheese

Trademark lawsuits can be a little dry, but a California case in the fall has drawn attention not only because it involved John Wayne and a whiskey named “Duke,” but also because it highlights a growing tussle over legal ethics.

Switzerland Fissures as Account Secrecy Loses Charm

Fortress Switzerland is showing more cracks.

Wealth managers hit out over ‘crippling’ suitability requirements

The watchdog has been visiting firms this year, and will publish a thematic review on due diligence in 2015, encompassing suitability requirements.

Jersey companies listing on the world’s stock exchanges

Carey Olsen acts for more LSE main market and AIM clients than any other offshore law firm.

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.

Legal,Regulation,Tax & Compliance