Managers of Wealth

Crown 'too focussed on wealth': inquiry

But they exposed the gaming giant to money laundering, with one criminally-linked junket group gambling $20.5 billion at the Southbank casino from 2015 to 2018.

The Shift in Real Estate Trends

There now tends to be greater weighting to commercial real estate, with many residential properties moved to personal ownership.

Cayman Islands family offices and the continuing rise of SPACs

The re-emergence of SPACs in the last couple of years shows no sign of slowing down as the demand for SPAC formations in the Cayman Islands continued to increase in the first quarter of 2021.

MPs braced for battle with global accounting firm over naming wealthy Canadians behind offshore tax shelters

Global accounting firms have mostly managed to keep their clients' names secret by arguing that their codes of conduct prevent them from publicly naming the multimillionaires behind the shell companies they helped to set up.

Swiss Trader Accused of Laundering Mafia Money With Diamonds

The case dubbed “Cambio Veloce” -- Italian for Quick Exchange -- by prosecutors has been run out of Lugano, an Italian-speaking financial hub in Switzerland.

Carey Olsen retains best offshore law firm title at WealthBriefing European Awards

Winning this award for the second successive year is testament to the hard work of our teams

Credit Suisse Dealmakers Leave in Droves

Archegos' bankruptcy prompted Credit Suisse to lose 5 billion Swiss francs ($5.5 billion) to date, hitting it harder than other banks.

Andrea Orcel Drops Part of Suit Against Santander

Orcel, who ran UBS' investment bank for six years, isn't backing down, but he is dropping the part of his claim demanding Santander make good on the job offer.

Snapshot: bearer share companies in the British Virgin Islands

Regulatory reforms to improve corporate transparency and crackdown on white collar crime prompted most offshore jurisdictions to reform their bearer share regimes.

IQ-EQ receives regulatory approval to acquire Concord Trust Company

This strategic transaction is the first for IQ-EQ in the U.S. Private Wealth trust space, and a signifier of IQ-EQ’s future intent within the U.S. Private Wealth market.

Former Coutts employee jailed for his part in £1.2m scam

Private bank worker passed on customers’ security details to organised crime gang

Global life insurer admits it helped US citizens hide $1.45bn

Swiss Life Holding AG, Swiss Life (Liechtenstein) AG, Swiss Life (Singapore) Pte. Ltd., and Swiss Life (Luxembourg) S.A. Enter into Deferred Prosecution Agreement for Criminal Misconduct; Agree to Collectively Pay More than $77 Million

Cyprus files first prosecution in passports scandal

Parliament speaker Demetris Syllouris and an opposition MP were secretly filmed allegedly trying to facilitate a passport for the fugitive investor.

Pimfa chief: New post-Brexit regulation supports FSCS reform

UK firms will not have to implement the IFPR until January 2022, unless they have a European base or subsidiary.

Hong Kong offers HK$1 million incentive to jump-start open-ended funds

Scheme seeks to boost city’s position as investment gateway to China’s GBA

Rogue branch lawsuit prompts Morgans payout offer

The settlement offer, revealed by The Australian Financial Review, follows Morgans’ own internal investigations having raised alarms about the branch.

Swiss Lawmakers Want to Weigh in on Credit Suisse

The central question is whether regulation of major banks needs to be tightened,» she told the Swiss weekly.

Swiss Lawmakers to Debate Stricter Banking Regulations, SZ Says

Lawmakers have to weigh possible tighter rules for risk management, the provision of capital buffers and remuneration policies, Prisca Birrer-Heimo, a councillor with the Social Democratic Party, told SZ.

Credit Suisse under growing pressure to compensate clients over Greensill

The collapse of the supply chain finance firm has hurt more than 1,000 of the bank’s customers

Swiss Life Settles U.S. Offshore Tax Probe

The recovery...sends an unequivocal message that offshore evasion is still a high priority of Internal Revenue Service Criminal Investigation

Legal,Regulation,Tax & Compliance