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

Scots law reform relevant to transactions and disputes to be explored

The SLC said it would undertake a “general examination of limitation law”

European Commission to introduce stronger rules against corruption

Sanctions for individuals and organisations found guilty of corruption would be increased under the new draft rules.

FCA seeks to expand firms’ obligations to borrowers in financial difficulty

The FCA has been alive to this.

UK export control law breaches attracting million pound civil penalties

Keen said: “The recent stats show that compound penalties around the million pound mark for breaching the UK’s export control laws are no longer uncommon.”

Cayman Islands Anti-Money Laundering Surveys for Financial Service Providers

The AML surveys assist the Authority in the exercise of its functions, including the collection of AML / CFT / CPF and sanctions data from FSPs.

Ireland adopts new regulations to enhance corporate cross-border EU mobility

The pre-existing cross-border division rules have also been changed to allow Irish companies to divide their assets and liabilities into new companies in other member states.

Case for university statutory duty of care towards students raised in parliament

Stephanie Badrock of Pinsent Masons was commenting after parliamentarians discussed campaigners’ proposals for a new statutory duty of care for higher education students.

Pensions risk transfer: reinsurer requirements

Reinsurers will also not want the insurer to amend the policy, or the underlying bulk, in respect of issues that impact the reinsurer without consent.

Sports bodies have options for tackling illegal streaming, say experts

Illegal streaming is the streaming of films, or premium sporting events without the copyright owner’s permission.

How the FCA’s new Consumer Duty impacts UK pension scheme buy-outs

This will further strengthen the regulatory regime that applies to insurers and the protection it offers to bought out members.

Guernsey funds legal and regulatory update June 2023

In view of the threshold, Pillar Two is unlikely to affect many businesses in Guernsey and those that are unaffected will continue to be subject to Guernsey's established zero-10 corporate tax regime.

Pre- and post-nups in Hong Kong: agreements which abound endearments

Many consider pre-nups or post-nups a one-way ticket to rejection when proposed, or that they foster incessant unhappiness when presenting the terms.

Charity tax: HMRC launches consultation on tackling abuse

The consultation identifies four areas of tax compliance in which the rules are currently “not working as intended”

The Cayman Islands Government proposes amendments to the Proceeds of Crime Amendment

A notable change that is being proposed in the bill is the potential removal of the defences to committing the key money laundering offences

FRC consults on changes to the remuneration section of the Corporate Governance Code

This article looks at the proposed changes affecting executive remuneration.

International Data Transfers

The DPC imposed a fine of €1.2 billion on Meta Ireland

New beneficial ownership regulations address South Africa’s AML grey listing

Any changes to a company’s BO register need to be filed with CIPC within five days of the changes coming into effect.

Managing supply chain risks: reporting and diligence

This is driving a trend towards more active supply chain management across a broader range of risk areas.

Dentons HPRP Capital Market team has successfully closed five transactions before the end of the first semester of 2023

In the following month, Dentons HPRP successfully closed the listing of PT Teknologi Karya Digital Nusa Tbk.

Charity land disposals: new law is coming into force

Third Sector magazine has reported research that the number of fundraising jobs advertised as offering hybrid working has grown by 900 per cent since before the pandemic.

Government Regulation