- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

HMRC nudge letter guidance

The early adopters of the CRS agreed to exchange information for the calendar year 2016 by September 2017 and the later adopters who agreed to exchange information for 2017 will have done so in September 2018.

Cyprus moves to strip 26 foreign investors of citizenship

A Cypriot passport appeals especially to wealthy, third-country nationals because holders become European Union citizens and can work and travel freely within the 28-country bloc.

Latvian bank Trasta wins closure review in EU court ruling

The General Court of the European Union, the lower EU court, had previously ruled in 2017 that the case of the group of shareholders was admissible, but the ECJ, the EU’s upper court, said on Tuesday that the lower court had erred in its judgment.

Decarbonisation of the UK Economy and Green Finance inquiry

The Treasury Committee has launched an inquiry into the decarbonisation of the UK economy and green finance.

How the Netherlands Built One of the World’s Worst Tax Havens

And How to Shut It Down

Carey Olsen lawyers lead the way in data protection expertise in the Channel Islands

The introduction of the General Data Protection Regulation in May 2018 has led to an increase in both business

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

As the Supreme Court noted, "very extensive powers were delegated to Mr Al Sanea to take decisions on behalf of the company, including signing powers over the company's bank accounts."

Meeting the pace of technological change by Nick Cook, Director of Innovation, FCA

Speech by Nick Cook, Director of Innovation at the FCA, delivered at the Chief Data Officer Exchange Financial Services conference in London.

Goodwin makes good on Taylor Wessing hires with Cambridge office opening

More recently in August Goodwin hired for the same practice in London Ali Ramadan from Orrick Herrington & Sutcliffe.

How Van Lanschot Kempen set up its mandated fund selection platform

UBS has already had a managed accounts platform for its wealthy clients, and Kempen was looking to launch one but lacked the necessary scale.

Highly regulated jurisdictions attract family offices

Sally said: "There was an interesting discussion around globalisation and digitalisation, how, with less face-to-face time between trustees and beneficiaries, the relationship could be fundamentally altered.

Insight: First It Was FATCA, Now MiFID II Has U.S. Investors in Europe Facing Nightmares

At the same time, due to Foreign Account Tax Compliance Act (FATCA) compliance issues, many non-U.S. financial institutions have made it difficult or impossible for overseas Americans to work with them.

INSIGHT: First It Was FATCA, Now MiFID II Has U.S. Investors in Europe Facing Nightmares

The last several years have been challenging for overseas Americans to open or maintain financial accounts in the U.S. and in their country of residence.

J. Safra Sarasin renames flagship fund to reflect ESG investment strategy

The name change has no impact on the investment policy of JSS Sustainable Equity

KPMG denies that it plans to cut 10% of partners

KPMG was reported to be axing a tenth of partners in the UK before the end of the year, but the firm denies that it plans to do so

Germany’s Scholz gives ground on eurozone banking union plan

Finance minister says Berlin should support common deposit insurance scheme

Ireland's Finance Bill 2019 | Key International Proposals

The transfer pricing legislation will incorporate by reference the 2017 OECD Transfer Pricing Guidelines, the OECD Guidance issued in 2018 on Hard to Value Intangibles and the OECD Guidance issued in 2018 on the Transactional Profit Split Method.

EU Exit: PRA update to SMCR "deemed approval" guidance on timing

The temporary permissions regime will allow EEA firms using a passport to operate for a limited period while they seek authorisation from the PRA if the passporting regime falls away when the UK leaves the EU.

Positive Energy: Appleby Comments on an Active Energy and Natural Resources Sector

Appleby has reported another strong year in the energy and natural resources sector and has acted on a number of large energy, oil and mining deals during 2019.

Nearly 4,000 ultrawealthy foreign investors have gotten dual citizenship through Cyprus' 'golden passport' program since 2013. Now, it's under investigation.

Cyprus is investigating corruption charges related to its "golden passport" program, which grants citizenship to foreigners who invest $2.2 million or more in real estate or local business.

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