Managers of Wealth

FCA imposes ban on DFM after section 166 probe

The regulator has come down hard on Dolfin following a two-year probe into its financial crime controls.

Zurich’s Oldest Private Bank Admits To Helping U.S. Taxpayers Hide Offshore Accounts From IRS

Rahn+Bodmer Enters into Deferred Prosecution Agreement for Criminal Misconduct; Agrees to Pay $22 Million

FinCEN Warns Art and Antiquities Traders of New AML Measures

The new rules come just months after a congressional bill gave the Treasury Department a year to come up with regulations to help mitigate the threat of money laundering, crime and terror financing in the antiquities trade.

Tax haven ranking shows countries setting global tax rules do most to help firms bend them

The 2021 edition of the Tax Justice Network’s biennial Corporate Tax Haven Index sees OECD countries or their dependencies take up the top six spots on the ranking of the world’s greatest enablers of corporate tax abuse.

Travel Restrictions Holding Up Wealth Management Connect

The Wealth Management Connect will allow residents of Hong Kong, Macao and major Guangdong cities to invest across borders, subject to an individual quota of CNY 1 million.

Swiss Parliament agrees modest tightening of anti-money laundering law

Swiss lawmakers have agreed to revise the money laundering law but have rejected new rules for lawyers, notaries and other consultants.

Taking control: How to get on top of non-financial risks

From the growing focus on ESG to the heightened operational risks and cyber vulnerabilities for people working from home, 2020 has also highlighted the knock-on impact of one NFR to another.

Credit Suisse tax whistle-blowers urge US to punish bank

A spokesperson for the bank declined to comment. The Justice Department and IRS didn't immediately respond to a request for comment.

UK Art Dealers Are Exploiting a Loophole to Avoid New Money-Laundering Regulations. Compliance Experts Say It Will Backfire

Art businesses should not be fooled into thinking they can use "reliance" as a loophole, experts say.

Growing reach: Eversheds Sutherland Switzerland opens an office in Zug

We believe in the potential of many innovative companies in the Crypto Valley and are excited to link them to other jurisdictions within our global network.

The world's largest law firm announces combination with elite Ecuadorian law firm

Dentons' combination with Paz Horowitz Abogados in Ecuador would further strengthen Dentons’ position as the only pan-Latin American law firm, with locations across 26 countries.

London's wealthy are bolstering the stamp duty bill

Such properties, according to these estate agents, are therefore in high demand and currently tend to come with a much higher price tag of £1m and above.

‘I’m Innocent,’ UBS Bankers Say as $5 Billion Appeal Starts

New York Senate proposes new tax on auction sale of art

The tax would be imposed on the purchaser and collected by the auctioneer in addition to state and local sales tax.

UBS French tax evasion appeal: what's at stake

A main pillar of the bank’s defence is that it was complying with the tax regulations of the day – the European Union Savings Directive, which did not compel banks to hand over client data to other countries.

The Bahamas Removed from the French List of Non-Cooperative States and Territories in Tax Matters.

The French Government has imposed a number of sanctions on blacklisted countries, including applying withholding taxes at a higher rate on financial transactions involving blacklisted countries.

How to reduce your Capital Gains Tax bill

How Capital Gains Tax works, and how to check you’re not paying unnecessary tax on your profits

UBS heads into record 4.5 bln euro French tax case appeal

The bank has denied any wrongdoing. It has so far set aside a tenth of that amount, or 450 million euros, to cover the penalties.

Amendments to Personal Data Protection Act

This round of amendments will introduce significant change to the existing data protection regime in Singapore, which bring it closer in line with higher global standards.

Key Financial Services trends from 2020

Both plans set out operational and financial resilience as key priorities during a time of turbulence; the regulator has since worked with firms to review their contingency plans and survey their financial stability.

Legal,Regulation,Tax & Compliance