Managers of Wealth

Commitments fulfilled: The USA terminates the deferred prosecution agreement with the bank

The responsible US court in New York has approved this application.

USA terminates ZKB’s deferred prosecution agreement

The agreement started in 2018, following a seven-year tax dispute.

When Should Offshore Trustees Participate In Foreign Proceedings?

Choosing to do nothing in the face of foreign proceedings may result in a foreign judgment

Future regulatory framework – Treasury to reform regulation post-Brexit

The consultation proposes changing this principle to clarify that such growth should happen in a sustainable way that is consistent with the UK’s net zero commitments.

How your cryptoassets will be taxed in the UK

This means that investors found to be evading tax bills may incur severe penalties – further evidence for why getting your cryptoasset taxes in order is crucial.

Swiss Banker's Ex-Wife Snagged in Data Breach

Ceregato paid nearly 56,000 Swiss francs ($61,000) in fines and court fees as a result of the decision, carried out by Zurich's prosecutor.

Belgium: New special tax regime for expatriates proposed

This article summarizes the most important anticipated changes based on the draft text of the proposed legislation and related explanatory documents as approved by the Council of Ministers.

FCA fines London broker £600k over ‘suspicious’ offshore trades

The FCA found that Sunrise had deficient systems and controls to identify and mitigate the risk of facilitating fraudulent trading and money laundering in relation to business introduced by the Solo Group, between 17 February 2015 and 4 November 2015.

Ten Carey Olsen lawyers recognised as leading private client practitioners

This recognition follows in the footsteps of Carey Olsen's trusts and private wealth practice

European Parliament formally adopts EU public Country-by-Country Reporting

A breakthrough was achieved in February 2021 in the Council of the EU, as a result of certain countries changing their previous position and agreeing to support the proposal.

Federal Council brings new legal framework on implementation of international tax agreements into force

The revision of the law now also stipulates how mutual agreement procedures are to be carried out at national level, provided the applicable agreement does not contain any deviating provisions.

Swiss Bank Tax Evasion Case Highlights Singapore's Gaps

This raises questions about how effectively the city-state fights financial crime.

Credit Suisse to Suffer Tougher U.S. Stance?

These deals are struck to settle criminal charges in mutual agreement without a trial.

UK welcomes work to develop global sustainability reporting standards alongside 40 international partners

UK government joins 40 international partners from 6 continents to welcome the establishment of the IFRS Foundation’s new International Sustainability Standards Board (ISSB) at COP26.

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.

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