Managers of Wealth

French court set to rule on record UBS fine

The Paris appeals court is set to rule on whether to confirm or adjust the penalty against Switzerland's largest lender, which was imposed after an initial trial in 2019.

UBS can get reduced buses in France

The UBS share reacted at times with a price increase of 3 percent on the stock exchange.

Massive money-laundering probe heartens anti-corruption activists but fails to lift Pandora Papers’ pall over Seychelles

The African tax haven, recently removed from the EU’s blacklist despite uproar, is prosecuting its first major money laundering case against an influential couple who feature among the wealthy elites in the Pandora Papers.

Billionare Surrenders $70 Million of Stolen Antiquities

His unprecedented lifetime ban on collecting ancient relics demonstrates the importance of due diligence for art collectors.

2020 MAP statistics released on OECD “Tax Certainty Day”

Members of the BEPS inclusive framework commit to implementing the action 14 minimum standard, which requires participation in a peer review process and reporting of MAP statistics based on an agreed reporting framework.

UBS' Legal Life After French Ruling

The potentially more harmful side effect may be if UBS is convicted of money laundering

Arbitration: BVI considers issues of enforcement upon a state

In May 2021, following a four day return date hearing, the BVI Commercial Division of the Eastern Caribbean Supreme Court set aside the Registration Order.

Swiss Central Bank Wraps Digital Currency Trial

The experiment, called Project Jura and involving SIX's digital exchange, Credit Suisse, and UBS, tested the feasibility of cross-border settlement of two CBDCs on blockchain.

Citi Private Bank Law Firm Group and Hildebrandt Consulting Issue 2022 Citi Hildebrandt Client Advisory

U.S. Law Firm Industry wraps up one of the strongest years on record with growth levels not seen since pre-2008

Former Irish rugby player in court over alleged theft of almost €600,000

He was accused of 15 offences between 2011 and 2013 and made no reply when charged.

Article 123 bis is given a new set of teeth to bite into offshore trusts’ profits

French Tax Bulletin: Article 123 bis is given a new set of teeth to bite into offshore trusts’ profits

The private funds guide to SFDR

ESG data gathering and analytics is Intertrust Group’s first ESG product

Credit Suisse Execs Quizzed as Rogue-Banker Case Quickens

Two of the six executives already met with the Geneva prosecutor last month, according to people familiar with the matter.

Tax Justice Network proposal to FATF’s consultation on beneficial ownership for legal persons

While a multi-pronged approach using many sources of information is welcome, a central beneficial ownership register should become mandatory for all countries, without allowing for “alternative mechanisms”.

IOSCO Recommendations for ESG Ratings and Data Providers

These aim to help increase trust and transparency in the rapidly expanding ESG market.

Allen & Overy advises Christie’s

The new business, which will retain the name Christie’s International Real Estate, will create one of the largest residential brokerage firms in the U.S.

Swiss Watchdog Contemplating Clawbacks

Until now Switzerland’s main banks have cut the salaries of executives who have been involved in scandals or caused losses.

HNWs could be denied access to FSCS

The FCA said it had looked at claims processed over 2020 and 2021 in order to consider the impact such an exclusion would have.

The pitfalls of over-reliance on economics research in corporate tax policy

The chosen approach was highly controversial even within the MoF. High-ranking civil servants found meaningful short-term impact unlikely.

Finma license: "We did it without external help"

The entire process at his company, which with five employees is one of the smaller representatives of the industry, took a total of around nine months.

Legal,Regulation,Tax & Compliance