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

Pensions Ombudsman decisions offer reassurance around risks of providing online systems

If in any doubt about their fund information, they should contact their provider by phone or secure message, rather than rely solely on their provider’s online system.

Buy-sell agreements and estate tax consequences in the US

Buy-sell agreements are commonly used as a part of a succession plan for a family-owned and closely held business.

Further Scottish short-term let amendments needed to lessen regulatory burdens

The amendments address some restrictive aspects of the previous legislation, aiming to provide a more balanced approach.

Revocable trusts, irrevocable trusts, and changing with the times

These powers cannot be so broad as to frustrate the grantor's intent or cause tax issues but can allow for flexibility.

U.S. Supreme Court Rejects Purdue Pharma Opioid Settlement

Claimants that responded to the plan’s solicitation of votes voted overwhelmingly to support the plan, with 97% of voting claimants accepting.

Election Special? Not a special UK election for cohabiting couples

Almost 50% of the public mistakenly believe that 'common law marriage' exists in England and Wales

Whistleblowers under protection

The Act requires companies to implement internal channels for processing whistleblower reports concerning work-related issues.

Cross-Border Activity Notifications in the EEA

New EU rules for cross-border AIFs/UCITS notifications start July 14, 2024. Updated CSSF templates, auto-generated attestations, and email submissions required.

Building bridges, not barriers: setting up Cayman trusts to minimise conflicts

Cayman Islands trusts are known to be backed by extensive legislation

The proceeds of crime law and unregulated trustees

The additional obligations are set out in schedule 10 of the Proceeds of Crime Law

Ogier strengthens ties with The British Land Company plc

The additional scope will increase Ogier Global's real estate division assets under administration by more than £2 billion.

The EU Corporate Sustainability Due Diligence Directive is final: how can companies prepare?

Many companies that will face extensive obligations under the CSDDD will also be subject to requirements pursuant to the Corporate Sustainability Reporting Directive

HSR Act applies to high net-worth individuals

The penalty for ignoring a mandatory HSR filing could be up to $51,744 per day in 2024.

Differences in China’s legislative approach to HR document retention carry complexities for employers

This situation raises the question of how to define ‘purpose’ and when the ‘fulfilment of purpose’ is considered to have been achieved.

EU ministers align on tougher greenwashing rules

The Council’s general approach will form the basis for negotiations with the European Parliament on the final shape of the directive. Negotiations are expected to begin in the new legislative cycle.

See you in court? If you're getting divorced it's increasingly unlikely

There are times when the court provides an invaluable role – for arrangements in relation to children

Nuvei secures UAE license

Nuvei already has a strong commercial presence and existing high-profile partnerships in the region.

BaFin provides guidance on reporting security incidents under DORA

Depending on how the incident develops, the company must keep BaFin up to date with several interim reports. In particular, it must notify BaFin of any changes in status.

Ofcom’s roaming rules: what UK mobile operators need to know

Providers will need to notify customers, promptly and free of charge, when they begin roaming, and when they begin roaming inadvertently.

Treasury updates rules governing "T-Listed" surety companies

The Rule also permits Treasury to accept letters of credit for purposes of protecting risks in excess of the 10% underwriting limit and codifies other existing Treasury practices.

Government Regulation