Managers of Wealth

Swiss double taxation agreement with Bahrain

The new DTA promotes economic relations between Switzerland and Bahrain.

EU regulators ease reporting demands in MiFID 2 "Quick Fix" Directive

From a high-level perspective, the changes are focused on reducing the administrative burden on affected firms with operations in the EU, including exemptions from ex ante cost and charges reporting plus some product governance requirements.

FCA acts to help investors make more informed ESG investment decisions

The FCA is committed to helping investors put environmental, social and governance (ESG) matters at the heart of their investment decisions.

Taxing the digital economy

The OECD aims that pillar two will be brought into law in 2022, to be effective in 2023, with the under taxed payments rule coming into effect in 2024.

New TCFD guidelines change greenhouse gas reporting requirements

The TCFD’s guidelines were published in 2017 and say that companies should undertake scenario-planning for different levels of global warming and should disclose medium and long term emissions targets.

New tax information notice for UK financial institutions

The changes are intended to enable HMRC to deal more efficiently with requests for information from foreign tax authorities.

October 2021 international tax update delivered to G20 leaders

The OECD announcement indicates that the G20 leaders called on the inclusive framework to develop model rules and multilateral instruments “swiftly, to ensure they come into effect globally in 2023.

Towards net zero: mandatory corporate climate-related financial disclosures

Subject to Parliamentary approval, the new rules will come into force in respect of financial periods starting on or after 6 April 2022.

Get the basics right in family business employment law

While a family business may think—and hope—it will never be in a situation where it needs to serve notice of termination on a family member, having a contract in place which clearly sets out what he or she would be entitled to in such an event

CRD6 could shut out cross-border financial services into the EU

In any case, it seems that the proposals would end national cross-border licences and exemptions which enable cross-border services into EU Member States.

Trust but Verify: Establishing a Client’s Source of Wealth

Epstein advocates a “trust but verify” mindset.

Football: Indictment for a payment of CHF 2 million by FIFA to the former president of UEFA

Over eight years after the termination of his advisory activity, Platini demanded a payment in the amount of CHF 2 million.

Updated Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers

The FATF standards require countries to assess and mitigate their risks associated with virtual asset financial activities and providers; license or register providers and subject them to supervision or monitoring by competent national authorities.

G77 takes the initiative as G20 papers over the cracks of weak OECD tax deal

Two multilateral instruments are still to be designed, signed and ratified before binding changes come into effect.

UK Cryptocurrency Tax Is Still Murky Territory — Here’s How to Navigate It

The only things certain in life are death and taxes — and that applies to cryptocurrency tax in the UK, which is still being defined by the HMRC.

Scrutiny of the U.S. Art and Antiquities Markets Intensifies

While the scale of the problem is unknown, experts agree that a number of factors make the art and antiquities markets particularly susceptible to financial crime.

FSB’s revamped Annual Report describes its work to promote global financial stability

The report notes that the outlook for financial stability continues to be dominated by the COVID-19 pandemic, with the recovery uneven across economies and sectors.

High-Level Synopsis of the Stocktake of the Unintended Consequences of the FATF Standards

Despite these efforts, de-risking and financial exclusion remain challenges for many sectors and run contrary to the RBA promoted by the FATF and core philosophy of the RBA.

Art collector's court case signals potential legal and contractual issues with NFTs

According to the NFT Report 2020, published by L’Atelier BNP Paribas and Nonfungible.com, the value of the NFT market grew by 299% in 2020.

Second national report on risks of money laundering and terrorist financing

It also provides an overview of the legislative provisions that have been implemented in this period with a view to improving the Swiss toolkit for combating money laundering and terrorist financing.

Legal,Regulation,Tax & Compliance