Legal Archives - Page 54 of 212 - Managers of Wealth

Carey Olsen named Offshore Law Firm of the Year by Chambers Europe

May 26, 2023

Winners across the 26 categories were selected based on extensive research and client interviews conducted by a team of more than 200 research analysts.

Legal

Swiss Government Orders Credit Suisse Bonus Ban

May 25, 2023

he order, which follows the multibillion-dollar government bailout of Switzerland's second-largest bank, applies to around 1,000 bankers at the top three management levels of Credit Suisse.

Legal

FCA proposals to align rules for fund managers and discretionary investment managers pose material threat, says PIMFA

May 24, 2023

PIMFA members are deeply concerned that such an alignment would result in rules that have been specifically designed for the management of funds

Legal

AFCA outlines systemic issues in wealth management

May 23, 2023

In the superannuation sector, one identified issue concerned the provision of insurance attached to super funds.

Legal

FCA plans to align rules for fund managers and investment managers pose material threat says Pimfa

May 23, 2023

The extension of fund rules to managed portfolio services would, in almost all cases, be entirely inappropriate.

Legal

FCA says it wants the UK to become ‘hostile environment’ for fraudsters at PIMFA’s Financial Crime Conference

May 19, 2023

The Financial Conduct Authority in a collaboration with industry, plans to make greater strives in ensuring the UK is a hostile environment for fraudsters, delegates at PIMFA’s Financial Crime Conference were told today (18 May 2023). Opening the conference Nick Hulme, Head of Department (Advisers, Wealth and Pensions) at the FCA, said prevention of […]

Legal

Qatari sovereign wealth fund considers legal action over Credit Suisse takeover

May 19, 2023

The Qatar Investment Authority (QIA), Credit Suisse’s second-largest shareholder, is considering legal action against the Swiss group’s merger with UBS. According to a report by Reuters, the Qatari sovereign wealth fund could incur a loss of around $330m because of the Credit Suisse/UBS merger. The fund claims the loss is a result of the […]

Legal

Bermuda: Are you PIPA ready?

May 19, 2023

The Personal Information Protection Act in Bermuda has been in effect for some time now, but not all of its provisions have come into force. While the establishment of the Office of the Privacy Commissioner was one of the initial provisions that came into effect, the majority of the operative provisions are still pending. […]

Legal

Credit Suisse AT1 bondholders force Swiss regulator to hand over wipeout decree – reports

May 18, 2023

Holders of Credit Suisse AT1 bonds have forced the Swiss regulator to hand over the decree that ordered the wipeout of $17bn of the bank’s riskiest bonds. A group of Swiss and international investors representing over CHF 4.5bn ($5bn) of Credit Suisse AT1 bonds sued the Swiss Financial Market Supervisory Authority (FINMA) on 18 […]

Legal

Changes to Jersey's 'high-net-worth' laws propose higher taxes and minimum net worth

May 17, 2023

The minimum amount of tax paid by new high-net-worth residents moving to Jersey is set to rise. Currently, people relocating to the island on a '2(1)(e)' licence – previously known as a 'J-cat' licence – have to pay at least £170,000 in taxes to the island's government each year. But if a proposition […]

Legal

UBS filed an amended Form F-4 registration statement with the SEC

May 17, 2023

In connection with the planned acquisition of Credit Suisse, UBS Group AG has filed a registration statement on Form F-4 with the US Securities and Exchange Commission (SEC) covering the UBS Group AG shares to be issued to Credit Suisse Group AG shareholders in the acquisition. UBS filed today Amendment 1 to the registration statement, […]

Legal

Crypto «Wunderkind» in Severe Breach of Swiss Regulations

May 17, 2023

Finma sanctions the Dornhii Foundation and its founder Dadvan Yousef. The accusations against the once-idolized young crypto entrepreneur are many. The list of sins against the Dornhii Foundation and its founder Dadvan Yousef published by the Swiss financial regulatory Finma on Wednesday is long. The foundation, which sold digital tokens to private individuals, had […]

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