Managers of Wealth

Swiss Court Denies Appeal by UBS' French Clients

The court noted that the question of «fishing» for data had already been decided by Switzerland's supreme court.

SFDR data gaps and admin burdens challenge fund managers: UBS

UBS expects the new regulations to encourage inflows into ESG strategies.

Law firm Irwin Mitchell gears up for London stock market float

Irwin Mitchell is readying itself to float on the London Stock Exchange, in a move the law firm hopes would value it at around £500m.

Ex-SocGen Bankers Challenge Fines Over Putin Foe’s $700 Million Deposits

Sergei Pugachyov, a former Russian senator, was once a close confidant of Putin and amassed a fortune of more than $1 billion in the 2000s.

Record French Fine Slashed as Latvian Bank Wins Tax Appeal

The penalty was eclipsed just a year and a half later when the PNF secured a 3.7 billion-euro fine in court against UBS Group AG.

Mauritius a player in transparency – identifying Ultimate Beneficial Owners

This mandate for transparency in many jurisdictions has changed the game in the financial industry around the world and Mauritius as a responsible player has been no exception.

An Asynchronous and Divergent Recovery May Put Financial Stability at Risk

The economic trauma would have been much worse if the global economy had not been supported by the unprecedented policy actions

Considerations for making charitable gifts abroad by Withers Worldwide

Before gifting to foreign charities (through checks, credit cards or Venmo), consider that charitable giving outside this country may produce significant tax consequences and present traps for the unwary.

Malta launches new citizenship by investment programme

It is a member of the EU and offers its citizens visa free travel to over 180 countries.

New watchdog to boost online competition launches

A tough new regulator to help make sure tech giants such as Facebook and Google cannot exploit their market dominance to crowd out competition and stifle innovation online has launched.

TMF Group announces 2020 full year results

TMF Group delivered strong performance in 2020

Egypt, Japan sign MSME facility agreement worth $100m

New facility aims to boost MSMEs to lead Egypt’s economic growth

International Investors Can Now Apply for Bermuda’s New Residency Certificate

To ease the process for prospective EIC applicants, the Bermuda Business Development Agency (BDA) offers a dedicated and personalized business concierge to act as a single point of contact.

Key trends from the boardroom in 2021

This has been further exacerbated by the impact of the COVID-19 pandemic on the financial system, leading to a push by investors for ESG-focused initiatives and an increased emphasis on a company’s responsibilities towards wider society.

The SFDR – get it right from the start

The SFDR has now become a reality, with EU funds and non-EU AIFs marketed within the EU being obliged, as an initial step, to have updated their prospectuses by 10 March 2021, requiring investment managers to classify their fund product into one of three

Buffet of tax-evading secrecy revealed by US settlement with Swiss bank Rahn+Bodmer

This is a global ranking of the countries most complicit in helping wealthy individuals hide their wealth from the rule of law

Private wealth professionals expect increased efforts to tax offshore wealth post-Covid 19, says Intertrust research

More than half of respondents (53 per cent) also said that the pandemic had resulted in clients re-evaluating their objectives and shifting from wealth creation to wealth preservation strategies.

Credit Suisse's Fatal Lack of Humility

It also slashed their dividend to roughly one-third of what it had originally promised and stopped buying back shares.

Tax transparency moves forward as no or only nominal tax jurisdictions first exchange information on the substance of entities

These new annual exchanges cover information on the identity, activities and ownership chain of entities established in no or only nominal tax jurisdictions that are either non-compliant with substance requirements or engage in intellectual property

OECD releases new peer review results on the prevention of tax treaty shopping under the BEPS Action 6 minimum standard

To address this issue, all members of the Inclusive Framework have committed to implementing the Action 6 minimum standard and participate in annual peer reviews to monitor its accurate implementation.

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