09/15/2021
Following the tax changes over the last few years on UK residential properties, there has been a mass de-enveloping of UK residential properties held in trusts and offshore companies, a significant proportion of which are now held in individual names.
09/15/2021
Firms have not prioritised investment in regulatory reporting, focusing on "tactical fixes" and relying on "significant manual intervention to fill data and system gaps," leading to a higher risk of errors.
09/13/2021
Given the importance of robust regulatory returns, the PRA expects all banks, designated investment firms and building societies to consider the findings in the letter and any work they may need to do to remediate applicable issues.
09/13/2021
Anjelica Camilleri de Marco, Senior Associate in Malta, outlines the adoption of trusts in Malta and examines their tax treatment.