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

Three Appleby lawyers Called to the Bar

James works primarily on insolvency and restructuring, corporate governance and general commercial litigation.

Herbert Smith Freehills Advises GPA Global On Its Acquisition Of Cosfibel

With this transaction, GPA Global is strengthening its presence in Europe and in the beauty sector globally, as well as expanding its production capabilities for the premium and luxury markets.

UK government plans to revamp holiday pay calculation for part-year workers

Employers will keenly await the consultation response, although it’s highly likely that any ‘fix’ won’t be retrospective

ECJ: Individuals have the flexibility to choose between administrative and civil remedies under the GDPR

Having the flexibility to choose between administrative and civil remedies under the GDPR provides individuals with multiple options for seeking redress in the event of a violation of their rights.

Time's running out for registration of overseas entities

Collecting the necessary details, notifying beneficial owners and arranging verification takes time and it is critical that OEs take action now to avoid penalties.

Interest for official error: incorrect implementation of EU VAT law

Incorrect implementation of EU law entitled a taxpayer to a payment of interest from the time they would otherwise have made a claim.

ESMA Issues New Guidance and Finalised Rules on EU Cross-Border Activities

This outlines questions that NCAs are expected to ask themselves, or regulated firms, when assessing the supervision of cross-border activities of MiFID investment firms to retail clients.

UK legislates for minimum service levels during strike action

Neilson said that the Bill could also raise constitutional issues.

Land Transaction Tax (LTT) - New Concessionary Guidance Issued for Share Transfer Purchases in Jersey

At this stage, this guidance only applies to share transfer properties (generally, apartments or parking spaces) where LTT is payable.

FCA fines show focus remains on AML compliance

The FCA fined Guaranty Trust Bank £7.67m (50-page / 310KB PDF) after it identified “serious weaknesses in the institution’s AML systems and controls between October 2014 and July 2019.

Fashion and textiles: Proposal to ban use of 'forever chemicals' in the EU

The structure of PFASs means that, among other qualities, they are water and stain repellent and heat resistant.

Key Developments & Latest Trends in the Fintech Sector in The Bahamas

From a central Government policy perspective, the Government of The Bahamas (the “Government”) published a Policy White Paper on The Future of Digital Assets in The Bahamas

NIS2 cybersecurity directive expands obligations in EU tech sector

The European Commission is obliged to adopt certain implementing acts to supplement the provisions in NIS2.

VAT invoicing requirements in triangulation transactions

There is a strict requirement to include the words “Reverse charge” on an invoice given to the ultimate recipient of the supply in a triangulation transaction.

New rules for distribution agreements

The Guidelines state that a difference can be justified if it would provide an additional incentive to invest in the online or offline sales channel.

BVI Approved Managers: Upcoming Filing Deadline - 31 January 2023

BVI Approved Managers are required to file an annual return with the BVI Financial Services Commission (the "Commission") by 31 January 2023 in respect of the preceding year pursuant to the Regulations.

Iowa Targets Out-of-State Bank Partner for Usury, Shedding Light on State’s Interpretation of DIDMCA Opt-Out

The AOD is likely to result in out-of-state state-chartered banks excluding Iowa residents from their loan programs

UK renewables CfD proposals reflect value for billpayers drive

CfD auctions are the government’s primary method of supporting renewable energy.

Time is running out - The Economic Crime (Transparency and Enforcement) Act 2022

If you believe that the Economic Crime Act applies to you, now is the time to take steps to ensure that you comply by the deadline of 31 January 2023.

US Internal Revenue Service Issues Final 2023 QI Agreement and Additional Guidance for Section 1446(f)

The new QI agreement (the “2023 QI Agreement”) came into effect on January 1, 2023, and is set to expire on December 31, 2028.

Government Regulation