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

Economic Crime Bill to introduce long-awaited register of foreign beneficial owners of UK land

The Bill also contains provisions to beef up the system of unexplained wealth orders.

The new economic crime bill – greater transparency of property ownership in the UK?

Whilst the Bill is introduced in the context of Russia's attack on Ukraine, its impact will not be limited to Russian entities or persons but will affect all non-UK entities operating in the UK.

Government authorises use of dormant pension assets to 'change people's lives for the better'

The UK Government has now announced an expansion of the scheme, which will be expanded to cover pensions, insurance, investment and wealth management accounts.

Global labor law update

Keeping up to date of new legal developments and maintaining visibility of those on the horizon continues to be critical for those planning and managing people strategies.

No Stone Unturned: Tools of the trade available to the asset recovery lawyer in Guernsey

The application must not be merely for the purpose of obtaining pre-trial discovery of what a witness might say if called at trial

This guide focuses on BVI business companies and BVI open-ended investment funds, and it aims to provide an overview of the different types of open-ended investment funds in the BVI and the regulatory requirements and obligations that these funds are subj

BVI Approved Managers Regime

The application process for approval is generally quick and straightforward making it an appealing and popular option for both start-up and existing qualifying investment managers and advisors.

Charities aspects of the Levelling Up White Paper in the UK

Access will provide urgent financing to over 1,000 charities and social enterprises in the more deprived areas of England.

Financial firms should monitor FCA's AR consultation ‘carefully’

There are currently around 40,000 ARs in the UK, with around 16,000 ARs operating in the retail lending industry, and around 12,000 in general insurance and protection.

UK ports face Russia sanctions compliance challenge

Francis Tyrrell of Pinsent Masons was commenting after the UK government introduced new legislation aimed at preventing Russian vessels from entering UK ports.

Borrowers beware – HMRC's new DeFi guidance

But the new guidance looks likely to disrupt the DeFi market in ways that crypto investors and users may see as disadvantageous.

Foreign direct investment in the EU

Even under the new Regulation, the member states largely remain autonomous in their approach on how to deal with FDI.

UK to boost sanctions enforcement and corporate transparency

The UK government has announced a significant package of sanctions in the wake of the invasion.

SEC Reporting Changes: Accelerated Settlement Cycles

These changes are “designed to protect investors, reduce risk, and increase operational efficiency.

SEC Proposal Significantly Impacts Private Fund Advisers and Investors

The SEC stated that the Proposal is intended to address activities harmful to private fund investors

EU Annex II Update - Bermuda & BVI

No direct penalties or sanctions will be imposed by any EU member states on entities or institutions in listed jurisdictions as a result of their inclusion in Annex II.

Greater China Risk Insight: Looking ahead in the Year of the Tiger

The world of disputes is also rapidly evolving.

‘No quick fix’ for UK amber flag pensions rules issues

New transfer rules introduced in November 2021 require the trustees of a transferring pension to find an amber flag

Dealings with sanctions target-owned businesses require UK licence

It is important businesses do their due diligence to understand exactly who they are transacting with currently and screen who they might do business with in future

The BVI and the EU

On 24 February 2022, the Council of the European Union updated the EU list of non-cooperative jurisdictions for tax purposes.

Government Regulation