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

UK advances multinational top-up tax despite mostly a lack of progress elsewhere

The draft legislation provides for the multinational top-up tax to apply effectively from 2024.

Filing Extension for Economic Substance Declarations for In-scope Entities Which Earned No Gross Revenue

The Registrar has recently initiated desk-based reviews, requests for information and onsite inspections of entities to ensure compliance with the economic substance requirements.

CV fraud case highlights need for due diligence in recruitment

The High Court initially granted the confiscation order against Andrewes.

CIMA publishes revised regulatory procedures for the deregistration of Cayman Islands regulated funds

Under the new deregistration procedures, although CIMA should be notified of a fund's intention to deregister within 21 days of that determination, the fund must complete and file its final audit

Market guidance issued on NSIA – but is it enough to smooth the road-bumps?

One practical issue with the NSIA is that its broad jurisdictional scope has driven a significant number of precautionary notifications

Amendments to the BVI Business Companies Act 2004

Legal Update

Review Luxembourg outsourcing contracts, financial firms urged

The CSSF has developed template forms to support prior notification.

Vietnam calls for up to US$14bn annual power investment

Vietnam plans to seek private investment for these projects, according to a news report.

Columbus Family Law Attorneys at Grossman Law Offices Recognized in 2023 Best Lawyers

Six attorneys from Columbus-based Grossman Law Offices were recognized in the 2023 edition of The Best Lawyers in America® and the Best Lawyers: Ones to Watch™.

UK Government proposes a new approach to regulating artificial intelligence (AI)

Businesses should also consider who is responsible for AI governance and risk management strategy within their organisation and prepare to align their internal AI strategy with the proposed principles.

Are pay rises the only option for employers wanting to support employees with the cost of living crisis?

The rising energy costs, ongoing supply chain disruption and labour shortages mean that many employers are simply not in a position to permanently raise wages enough to counter the impact of the cost of living crisis on their employees.

US fundraising for foreign charities

This paper outlines the legal requirements that must be satisfied to establish and operate a US charitable affiliate organization to raise contributions by US residents.

UK Home Office scraps Police Registration Scheme for migrants

Migrants who have been issued with a visa with the requirement to register now no longer need to go to a police station to register

Probuild ruling changes common law stance on constructive acceleration claims

Probuild was delayed in completing the project and submitted an EOT claim to the project manager which was ultimately rejected.

Changes to the ex gratia regime under the Charities Act 2022

An ex gratia payment is not to be confused with a payment to compromise a legal claim

Charities Act 2022 - simplifying property sales in estates (a step too far?)

Only time will tell, and whilst there is no reason why this should necessarily be the case, charities should be alive to the potential risks when the new regime comes into force.

SEC Staff Posts Conflicts of Interest Guidance for Investment Advisers and Broker-Dealers

The Bulletin is styled as a “Q&A” and covers, among other matters, identification,2 elimination, and mitigation of conflicts, as well as conflicts policies and procedures.

Cyber Accreditation Body Releases Draft Assessment Process Applicable to Government Contractors

The Draft CAP will be part of the Department of Defense’s process to verify that contractors possessing sensitive unclassified government information take necessary steps to protect their information systems and data from the threat of cyber attacks

Shoosmiths to share success with new collegiate bonus scheme

The Shoosmiths Employee Bonus has an on target pay-out for all employees of 5% of basic salary for the performance year, with the opportunity to earn up to 7% of salary, depending on the firm’s performance.

A practical guide to the Register of Overseas Entities

This guide is intended to give some practical pointers for those who are affected by the operation of the Register of Overseas Entities.

Government Regulation