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

Maltese trusts – an attractive estate planning tool

Anjelica Camilleri de Marco, Senior Associate in Malta, outlines the adoption of trusts in Malta and examines their tax treatment.

COVID-19 vaccination mandates coming to a workplace near you

Specifically, President Biden has required all federal workers as well as employees of federal contractors to be vaccinated against Covid-19.

Award-winning cyber security expert to speak at Mourant Trusts Forums

David’s keynote will discuss how cyber criminals operate, the way criminals exploit businesses and their data, and what firms can do to guard against cyber crime.

Cayman private fund annual return deadline further extended

All private funds with a 2020 or a 2021 financial year-end up to 31 March 2021, must submit the FAR and RFE forms by this deadline. CIMA has confirmed that no further extensions will be granted.

ESMA guidelines on marketing communications

The guidelines will apply six months after the date of the publication of the guidelines on ESMA’s website in all EU official languages, ie from 2 February 2022.

BVI enhances registered agent whistle-blower requirements

The revised section 54A came into force as of 19 July 2021.

The UK’s LIBOR safe harbour legislation: a missed opportunity?

The FSA 2021 makes amendments to the UK Benchmarks Regulation

SEC committee recommends greater regulation of SPACs and Rule 10b5-1 plans

The committee also voted to approve recommendations that would impose greater restrictions on Rule 10b5-1 trading plans.

Basel III implementation in the European Union

Introductory remarks by Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, Eurofi panel on Basel III implementation in the EU, Ljubljana, 10 September 2021.

Watchdog hits Grant Thornton with £4m fine over Patisserie Valerie collapse

The Financial Reporting Council’s fine over the auditing of one of Britain’s best-known cafe chains could be announced as soon as this month, Sky News learns.

New rules for investment firms remuneration policies as of 31 July 2021 in Luxembourg

Specific rules apply in case the investment firm benefits from extraordinary public financial support.

German finance ministry raided in money laundering probe

Probe puts spotlight on financial crime ahead of elections

FCA consults on Handbook and Enforcement Guide changes using new FS Act 2021 cancellation and variation power

The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published a joint Dear CEO letter setting out their expectations of firms when undertaking trade finance activity.

Bermuda | Three Day Registration for Special Purpose Insurers Issuing Bonds

The BMA is a well-respected financial markets regulator, a reputation which extends beyond Bermuda, and has been earned in part through the BMA's ability to innovate and collaborate with market participants.

BVI Court Orders Indefinite Committal Of Extra - Territorial Contemor

Where a party to BVI proceedings is found to be in contempt, the court has a discretion as to whether it will continue to hear the contemnor.

Latham & Watkins Advises on India's First Sustainable AT1 Notes Issuance

The transaction is also Axis Bank’s largest ever single-tranche USD bond issuance to date.

China's new personal information protection law setting new grounds

Unlike the Cybersecurity Law and Civil Code which focus on the data subject’s consent for PI handling, the PIPL authorizes the handling of PI in the absence of an individual’s consent

UAE's anti-money laundering body endorses framework for virtual assets

In 2019, the financial crimes watchdog, the Financial Action Task Force, announced that cryptocurrency firms would be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering.

SEC & CFTC Enforcement Update

Three of the CFTC’s four actions concerned commodity pool fraud.

No phone zone: mobile phone bans to improve safeguarding and behaviour in UK

Although the majority of schools have policies in place limiting the use of phones in classrooms, rules and sanctions have not always been applied consistently.

Government Regulation