Managers of Wealth

Overcoming complexity and realising opportunity in luxury French property

Against the backdrop of the COVID-19 pandemic, luxury French property remains an attractive investment choice for many high net-worth individuals (HNWIs).

Extension of Annual Financial Crime Reporting Obligation

This policy statement proposes that additional firms and cryptoasset businesses should be brought into scope of the return based on their business activities and the potential money laundering risks.

SEC Charges Pro Athlete Advisor With Fraud

The complaint further alleges that Elstun made unsuitable and risky investments in daily leveraged and/or inverse ETFs that were inconsistent with Elstun's clients' investment objectives and risk tolerances.

PIMFA welcomes FCA Feedback Statement on Open Finance

It is also good to see the FCA views the introduction of Open Finance as we do, through a phased approach that will see Open Banking extended first, with the next stage being to start with products that have the best balance of cost and complexity.

FINMA lifts ban on acquisitions

This decision is based on a status report from FINMA’s mandated auditor

Working group publishes Carbon Reduction Code for built assets sectors

Sustainability experts from the Environment Agency and the HS2 rail project are working with CSIC to help explore and develop the code and to help build wider engagement.

Overcoming complexity and realising opportunity in luxury French property

Although the crisis itself has not directly boosted international demand, it is clear high-end French properties will rarely lose value and continue to be a safe investment option.

Non-fungible tokens: at the UK legal and tax frontier

Is this just another bubble waiting to burst or is it the sign of an important shift in attitude towards the digital world?

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

Leading economists and campaigners from around the world are calling for OECD tax rules to be superseded by a more robust and globally inclusive process at the United Nations

Volkswagen Chasing Former CEO Over 'Dieselgate' Damages

The Dieselgate scandal resulted in a significant drop in sales of diesel Volkswagens worldwide

Sanne secure first specialised depositary services licence in Ireland

The new licence expands Sanne’s already well-established product offering to cater for Irish domiciled closed-ended funds.

Better Growth Offsets Inflation ANGST

The first quarter of 2021 was most notable for the bond tantrum as inflation expectations in the market started to adjust to the reality of higher prices.

7IM suspends dealing in two funds over liquidity concerns

Based on two illiquid securities

EY drops appeal against $10.8m whistleblower payment

EY also helped to cover up a crime - the export to Dubai of gold bars that had been disguised as silver to avoid export limits on gold.

Vatican official ‘offered call girl as thank you for £300m Chelsea property deal’

Judge Tony Baumgartner dismissed the restraint orders on Torzi, who denies charges of embezzlement, fraud, extortion and money laundering.

Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?

A SPAC is essentially a shell company formed with no business purpose or undertaking other than to raise funds for some future undefined object, and then later use the proceeds of that offering to acquire a private company in a reverse merger.

Greens target super-rich with $40b billionaires’ wealth tax

The proposed billionaires’ tax would capture all the assets of a high net worth individual, including property, artwork, jewellery, cash on hand and shares

Instagram influencer has defrauded his million followers out of $2.5 million in a Bitcoin for cash scheme – He claimed to be worth $33m but had $162 in his bank account

The 25-year-old Instagram star had induced victims to send him Bitcoin in exchange for wire transfers of cash, but he never sent the money in reality.

ESAs remind consumers about crypto-asset risks

Crypto-assets are quite diverse in nature and come in many forms but the majority remain unregulated in the EU

The World Bank Group: enforcement trends and insight

The OSD also reviews all settlements entered into by INT to ensure that the agreements are voluntary and consistent with World Bank Group Sanctioning Guidelines; in FY 2020 it reviewed 22 settlement agreements.

Legal,Regulation,Tax & Compliance