Managers of Wealth

Woman facing jail after admitting £5m money laundering offences

Tara Hanlon was stopped as she tried to board a flight to Dubai in October 2020 with five suitcases containing more than £1.9m in sterling notes.

Federal Council adopts report on systemically important banks

The existing rules set out in the Banking Act are intended to prevent banks from having to be bailed out using taxpayers' money.

Carey Olsen wins China Business Law Award for dispute resolution

This latest recognition for Carey Olsen's Hong Kong and Singapore offices follows the firm winning two deal of the year awards from China Business Law Journal

Modernisation of the Luxembourg Securitisation Law

The Luxembourg Securitisation Law of March 2004 required an update.

Swiss Agency Adds Crimefighters, Seeks Boss

Official data seems to bear him out: Last year, MROS was able to get through less than 85 percent of the 5,334 reports of suspicious activity reports that were lodged.

LIBOR Cessation: Investment Managers Look to the Future

It isn’t controversial to suggest the transition away from LIBOR will have a significant impact on operational workflows.

Twilight of the tax haven

A global corporate-tax pact would ruin a lucrative business model

The future of RegTech – what do firms really want?

Increased efficiency created by implementing RegTech solutions was the next most commonly cited benefit, improving the company’s position and staying competitive.

China updates regulation on wealth management market

The CBIRC has given firms a six month transition period to comply with the requirements.

U.K. banks block payments to crypto exchanges

Cryptocurrency users have been taking to social media in recent days to complain about the various crackdowns.

$1B feud involving Leonardo's 'Salvator Mundi' reveals dark side of the art world

The cases so far have kept an army of lawyers and reputation managers employed on either side, as one allegation against another is levied by each party, including claims of intimidation and political intrigue.

Bank of England highlights expectation that financial institutions will carry out climate change scenario analysis

The speech indicates that the NGFS will release an update of its climate scenarios in June 2021.

Crown dependencies risk blacklist as EU debuts tax abuse observatory

‘This is in line with the EU's existing approach to use the listing process to promote internationally agreed good practices.'

Proposed New Framework for Business Taxation in the European Union

BEFIT will replace the long pending but never agreed EU proposal for a Common Consolidated Corporate Tax Base (CCCTB) across the EU.

There is a ‘deal to be had’ on global tech tax reform, Sunak says

Chancellor Rishi Sunak said he wanted to ensure a level playing field between high street firms and online giants.

Green still the colour of money

The emissions revolution that rocked Exxon Mobil is also stirring up California

Biden to Crack Down On Tax Evasion by Crypto Investors

Most employees report their taxes on a W-2 form, and their employer acts as a third-party verifier of that income and employee — leaving the chance of tax evasion in this case small.

China’s Banking Regulator Adds Limits on Wealth Management Marketing

Otherwise the China Banking and Insurance Regulatory Commission’s final regulations differ little from the draft released five months ago that blocked WMP sales on internet platforms.

Secret Credit Suisse Stash, Bahamas in Case Targeting Enablers

Lawyer, banker caught up in case over client’s hidden accounts

Julius Baer Admits Laundering Over $36 Million

Swiss Bank Agrees to Pay More than $79 Million in Penalties in Deferred Prosecution Agreement

Legal,Regulation,Tax & Compliance