Managers of Wealth

Dubai royal divorce begins

A ten-day hearing at the High Court before Mr Justice Moor will decide the payout for the princess and their two young children.

Freetrade says investors could be ‘duped’ by loose ESG labels

While ESG funds screen out certain industries — such as arms and thermal coal — they do not necessarily have to exclude oil and gas, so long as companies in the sector are pursuing plans to reduce emissions.

FATF publishes guidance for regulation of cryptocurrency industry

The guidance provides relevant examples and potential solutions to implementation obstacles.

UK regulators pledge to embed climate change reports into all aspects of policy

Doing so creates opportunities for UK companies and consumers, as well as helping address climate change.

UK Charity Commission publishes details of whistleblowing disclosures made in 2020 to 2021

The majority of disclosures were received from employees and ex-employees (50.8%), however the proportion of reports from other sources (including Trustees) has increased.

New Revelations in Credit Suisse Spy Case

This is one of a glut of media revelations following a regulatory sanction for seven planned surveillance operations of current and former executives.

Extension to Global Citizen Concierge Program

The annual fees are relatively low and a successful applicant will pay US$1,500 per annum for their Certificate (a fee which includes one dependant), with fees of US$500 for each additional dependant.

The Anti-Money Laundering Act of 2020

Congress also increased penalties for violating the BSA.

Global Tax Agreement May Shake Up Taxation of Multinational Enterprises

The agreement, if implemented, could increase the complexity of the international tax system. Pillar One requires new source rules and dispute resolution procedures specific to those MNEs subject to the special nexus rule.

A Few Takeaways from Two Recent NY Tax Whistleblower Decisions

Understanding the application of the NYFCA to these types of claims requires more judicial guidance—and subtle aspects of recent decisions have the potential to shed new light on the application of the NYFCA to tax claims in court.

Cryptoasset investment fraud: inside the investigation

Cases are on the rise and the value of misappropriated assets increasing.

Regulator Defends «Anxious» Credit Suisse Compliance Staff

The U.S. lawyer says she is troubled by the pressure on compliance officials resulting from a weighty regulatory sanction over criminal wrong-doing in Mozambique.

Pandora Papers leak highlights importance of third-party due diligence

In many of these jurisdictions, sometimes referred to as tax havens or secrecy jurisdictions, associated tax rates may also be low, or even nil.

Cyprus to Revoke 45 Golden Visas Issued Illegally

Because of obvious irregularities revealed by the media and the subsequent criticism by Brussels, it was terminated in 2020.

Mozambique urges Credit Suisse to fully cancel scam-linked debt

The Swiss lender helped to arrange nearly $1bln in bonds plus a syndicated loan between 2013 to 2016

How Investec was a player in the world’s largest tax fraud (Part 2)

Investec issued these in its capacity as the pension funds' custodian bank.

United States: Challenges expected in US implementation of OECD agreement on global tax reform

While this agreement is a key milestone in the process, there is still a great deal of technical work ahead, and implementation of the agreement—targeted for 2023—will have its own challenges, including in the US.

FATF Public Statement on Pandora Papers

The FATF has long warned of the dangers associated with networks of anonymous shell companies and legal arrangements.

Jurisdictions under Increased Monitoring - October 2021

The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented below in their risk analysis.

Norton Rose Fulbright named ‘ESG Legal Advisor of the Year’ at inaugural IJGlobal ESG Awards

Norton Rose Fulbright was shortlisted for the award based upon its extensive breadth of ESG-related work and activity over the last year.

Legal,Regulation,Tax & Compliance