Managers of Wealth

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

Buying a Yacht – What About Tax?

There are a number of questions that the well-advised owner of a yacht should be asking themselves when it comes to taxation, the fundamental of which is simply to consider how much they are being told about the taxes relating to what they are doing.

SMCR and COVID: Regulatory expectations and a "reverse holiday" rule? Just a thought.

Post the financial crisis in 2008 you will remember that the FSA effectively brought in a "two week holiday rule".

Crypto payments banned in Turkey — Is this just the beginning?

Turkey’s vibrant ecosystem took a hit from the new crypto payments ban, and industry participants speak out on potential implications.

Here’s how to reduce exposure to tax increases with charitable contributions

The wealthy are facing a rise in taxes. Charitable donations are a way to reduce exposure while giving back.

Schroders PW zero commission will not solve protection gap

‘No fee means no business, surely?’

FNZ Told For A Secod Time To Undo GBST Acquisition

Its other offerings serve wealth managers, retail brokers, custodians, and margin lenders, officials say.

How does Brexit affect the UK’s Anti-Money Laundering laws?

This whitepaper sets out to uncover the impact of Brexit upon the UK’s AML laws and what these changes mean for regulated businesses in the UK.

ABN Amro to settle money laundering probe for $574 million

ABN AMRO will continue to make every effort to fulfil its role as gatekeeper.

Credit Suisse Sued in U.S. Over Recent Botches

Credit Suisse is grappling with the fallout from the $10.1 billion shutdown of Greensill supply chain finance funds and a $4.7 billion loss booked from the downfall of Bill Hwang’s hedge fund-style family office Archegos.

Swiss Crimefighter Wins U.N. Policy Role

Thelesklaf later criticized the alpine nation as ineffectual at combating the scale and variety of criminal money that is flowing into Swiss banks.

UK tax compliance and enforcement for wealthy individuals

Cases are chosen for the programme if there is a significant amount of tax at risk and it is thought that compliance interventions by the HRWP will add value.

Post _ Brexit Disputes With UK Parties - Continued Uncertainty As Decision On Lugano Awaited

For Irish entities dealing with UK counterparties, issues of dispute resolution may be more complex as a result.

HSBC wins London court fight with liquidators of bank owned by Allen Stanford

Liquidators of Stanford International Bank, which was incorporated in Antigua, complained that HSBC bosses should have been quicker to freeze Stanford International accounts.

Brexit: the impact of new immigration rules on English football

Points are based on a variety of factors including: number of international appearances, the rank of the selling club, and the quality of the league from which the player will be transferred.

Legal,Regulation,Tax & Compliance