No deal on global billionaire’s tax, says Yellen
The treasury secretary says proposed annual wealth tax on the ultra-affluent, currently tabled among G7 and G20 countries, won’t get US support.
Legal
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Close Brothers dips as it outlines motor finance review
In the voluntary review by Close, separate from the FCA probe, the firm predicts ‘single-digit millions’ in compensation for its motor finance customers.
SureVu: Your Shield Against the Menace of Failed Trades in the Era of CSDR's Settlement Discipline Regime
The consequences of failing trades are not limited to financial losses; they extend to the credibility and professionalism of an asset management firm.
Isle of Man considers change of policy on family offices
The call for input will lead to further research on the available options, which will form the content of a further consultation paper or discussion paper in due course.
FCA publishes details of common application shortcomings for prospective asset managers
The FCA identified a number of common errors that applicants should avoid when applying for authorisation for asset management activities.
Labuan IBFC Inc. and RAM jointly host event on Labuan captive solutions for self-insurance
This collaboration arises from RAM’s LECA rating service for credit and performance evaluation of Labuan IBFC licensees
Rules of conduct under FinSA: FINMA launches consultation on new circular
The Financial Services Act (FinSA) has been in force since the beginning of 2020.
New Finma director pours fuel on the UBS fire in his first speech
It made sense that Stefan Walter made his first industry appearance before the small bank symposium.
MAS fines wealth firm Swiss-Asia for AML breaches
The wealth firm was slapped with a S$2.5m fine for various AML breaches during a four-year period.
Crypto regulation in the UK: what are stablecoins?
The rationale behind the legislative approach was, along with other jurisdictions, to bring cryptoassets into the same regulatory perimeter as other asset classes.
AFH sues ex-adviser for £1.6m in restricted covenant breach claim
The wealth firm alleges that ex-adviser Samantha Baker broke a restricted covenant to take 121 clients with her to Regentia Lifestyle Planning.
Insurance intermediaries: mandatory follow-up documentation to be submitted to FINMA by the end of June 2024
Insurance intermediaries who submit their follow-up documentation by then may continue to operate as insurance intermediaries until FINMA decides whether they meet the registration requirements.