03/18/2022
New cross-border double taxation agreement between Switzerland and Italy: Updates
The agreement will apply as from 1 January 2023
Legal,Regulation,Tax & Compliance
03/18/2022
(Not so) Unexplained Wealth Orders
This new provision to allow UWOs to be made against person who don’t actually hold the property is designed to prevent people hiding behind complex corporate structures.
03/18/2022
OECD announces release of commentary on Pillar Two model rules for global minimum tax
The newly released commentary on the GloBE model rules indicates that the implementation of the new rules “is envisaged by 2023.”
03/18/2022
Former DBS manager given prohibition orders after deceiving clients into transferring S$490,000 to personal bank account
he orders took effect on Wednesday (Mar 16) after Loh was convicted of cheating and forgery offences, and using the benefits of his criminal conduct.
03/17/2022
Isle Of Man Takes Steps To Stymie Movement Of Russian Billionaire Andrey Melnichenko’s Two Superyachts
The Isle of Man’s Minister for Enterprise, Dr. Alex Allinson, told the BBC on Tuesday that deregistering a ship means it cannot legally take to the sea.
03/17/2022
BoE tries to tackle inflation with rate rise as 10% 'not off the cards'
The BoE had no choice but to keep raising rates.
03/16/2022
Ukraine: Talk of Full Confiscation Risks «Rule of Law»
The UK government is discussing whether to place refugees in the mansions of wealthy Russians, effectively confiscating them.
03/15/2022
Not All Oligarchs Sanctioned Equally
Melnichenko who resides in St. Moritz, Switzerland, joined 13 other Russian oligarchs on the EU sanctions list.
03/14/2022
Abramovich sanctions and Chelsea Q&A
Chelsea were not told about the sanctions or the terms of the licence before they were implemented.
03/13/2022
JFSC: 386 new Russian sanctions designations have immediate effect
Due to the increasing volume of designations and their immediate effect in Jersey, we will now be flagging their source to Industry as soon as we become aware via our website and shared on our social media channels.
03/13/2022
Directors’ considerations amidst geopolitical unrest
We highlight the growing considerations of company directors having business operations, directly or indirectly in Eastern Europe.
03/13/2022
FCA response to Chancellor’s call to stop investing in Russia
Major index providers have taken steps to remove Russian securities from their equity and bond indices.
03/11/2022
Russian Central Bank Suspended From Umbrella Organization
In recent years, it has hosted and supported the development of digital financial instruments and set up an innovation hub network across the globe.
03/11/2022
Whistleblowing – Swiss Banks Under Pressure
Since then, the international media has been reporting extensively on the data, accusing Switzerland's second-largest bank of maintaining client relationships with criminals and corrupt government heads for decades.
03/11/2022
The Swiss Bank Turning Down New Money
In order not to have to penalize its cherished customers as a result of breaching this threshold, the bank has opted to keep the maximum amount held in clients' accounts at 10,000 Swiss francs ($10,800).
03/11/2022
The Green Taxonomy: Addressing the Challenges
One of the first steps was to develop a common taxonomy, one that defines whether an activity is deemed sustainable and that provides a common language for actors across the EU to speak with one voice when discussing sustainable finance.
03/11/2022
Federal Council wants to introduce new tool to strengthen financial sector stability
This will make them more resilient compared to non-systemically important banks, as required by the Banking Act.
03/10/2022
IA responds to updates to the Online Safety Bill
Clamping down on these fraudulent adverts will help protect people from losing their hard-earned money to criminals.
03/10/2022
Opening of consultation on FINMA Ordinance on Data Processing
The FINMA Ordinance on Data Processing details how FINMA processes data in the context of fulfilling its statutory duties.
03/10/2022
Thailand’s SEC to Update Definitions of Institutional and High-Net-Worth Investors
These changes reflect a more modernized approach to defining types of investors, such as by adopting internationally accepted terms like “angel investor.”