Managers of Wealth

The European Commission Unveils New Sustainable Finance Package

The package focuses on material sustainability reporting and disclosure obligations, as the EU looks to direct capital toward sustainable activities.

Woodford sets up in Cayman after Jersey backlash

JFSC Director General Martin Moloney then ramped up the regulatory rhetoric, launching what the Financial Times described as a “blistering attack” on Mr Woodford’s plans

Swiss bank pays up to settle German tax evasion probe

A long-running dispute with Germany is fading now that both countries and others automatically exchange data about bank accounts.

UK Footballers and their agents face increased tax bills as HMRC clamp down on perceived tax loophole

The element of the payment which is made on behalf of the player will be treated as taxable income of the player as a ‘benefit in kind’.

Credit Suisse: FINMA opens proceedings in “Archegos” case and confirms ongoing proceedings in “Greensill” case

FINMA will investigate in particular possible shortcomings in risk management. FINMA will appoint a third-party agent to investigate the matter at the bank.

Heirs to German Industrial Fortune Face $6 Billion Tax Bill

Payment may be largest in German history, magazine reports

US President to 'propose hiking tax on rich'

The plan would also nearly double taxes on capital gains to 39.6% for people earning more than $1m.

£140000 fine against Standard Chartered Guernsey subsidiary

A licensee is expected, at all times, to comply with the requirements of the Regulations

Cyber hack challenges in international arbitration

Proceedings disrupted over allegations of hacking by an adversary

No or only nominal tax jurisdictions carry out first annual information exchanges

The information to be exchanged relates to the identity, activities, and ownership chain of entities that are noncompliant with substance requirements or that engage in “high-risk” activities, such as activities relating to intellectual proper

Swiss authority to probe Credit Suisse over trading losses

The authority said such "enforcement proceedings" against financial institutions typically take months, depending on the complexity of the matter.

Charity begins at Cuthbert’s home — An update on Colin v. Cuthbert

But Aldi’s Cuthbert is seemingly taking his battle straight to the court of public opinion, by launching a public relations campaign showing some real caterpillar chutzpah.

Swiss Regulator Probes Credit Suisse's Scandals

The Bern-based regulator confirmed that it opened an investigation last month into Credit Suisse's involvement with insolvent Greensill.

AllianceBernstein Executes Landmark Corporate Bond Trade Utilizing Broadridge's LTX® Trading Platform with Four Buyers on Same Block Trade

LTX's patented RFX digital trading protocol powers historic corporate bond trade initiated by AllianceBernstein to maximize liquidity, efficiency and execution

New PIF rules further enhance Guernsey’s funds offering

A third path will enable a PIF to be created as a bespoke private wealth structure requiring a family relationship between investors.

Beware the offshore tax crackdown: From holiday homes to secret Swiss accounts, HMRC is getting tough on Britons making money abroad

The offshore financial interests of millions of Britons have been handed to HMRC since 2018

Snapshot: SPACs and private equity - new tools for investment and acquisition

The current resurgence in SPAC activity started in 2012 and, after initially seeing steady year on year growth, SPAC use suddenly rocketed in late 2019. Since then, growth has been almost exponential.

You heard NY finalized its budget: What does this mean for the art world?

While some may forecast a negative impact on the art market as collectors may have less cash in their pockets available for discretionary purchases (like art), we do not think this tax change spells all doom and gloom.

U.K. Court Rapped UBS in Rape Case

Zurich-based UBS settled a discrimination and harassment lawsuit with a former graduate of its investment bank in London ten months ago.

APAC Monthly Private Wealth Legal Developments – April 2021

The Inland Revenue (Amendment) (Miscellaneous Provisions) Bill 2021 proposes to allow a tax deduction for foreign taxes on non-interest income that were charged on a gross income basis and to allow a non-Hong Kong resident to claim a deduction for foreign

Legal,Regulation,Tax & Compliance