Aziz Rahman, of Rahman Ravelli, argues that those waging the war against money laundering are missing the real targets. So the European Commission wants to give the European Banking Authority (EBA) powers to ensure money laundering is investigated more consistently. This could mean the EBA being able to ask national anti-money laundering supervisors to investigate […]
Following the disclosure of the ‘Paradise Papers’ in 2017, an onslaught of misguided moral righteousness resulted, villainising the wealthy for using perfectly legal means of investing their wealth in offshore corporations in order to achieve tax efficiency. In the process, many august journals blurred the lines between entirely legal tax avoidance and illegal tax evasion. […]
Both the SRA and FCA have controls and restrictions to stop the misuse of client money accounts and the breaches or abuse that has happened within the financial services industry. There have been a number of high profile cases recently which incurred fines or liquidation, highlighting that even financial services firms are still struggling with […]
Earlier this month headlines took the papers with the first issue of an unexplained wealth order for a woman who had spent a shocking £16 million at one of the UK’s most prestigious and recognised high-end stores: Harrods. This bill is only a fraction of the money Zamira Hajiyeva has spent over the past few […]
Michael Sheridan shares below common myths surrounding bankruptcy. In this insightful article, he touches on what often leads people to filing for bankruptcy and why it is not always a bad thing. What are common misconceptions you find that clients have towards bankruptcy? Most of the common misconceptions - such as ‘you will lose your […]
Litigation is famously known for being expensive and lengthy. With attitudes towards mediation slowly shifting, we get in touch with Anthony Trace QC from 4 Pump Court, who shares more on why mediation, especially for those in the banking and finance sector, is reaping benefits. He states: “If anyone has not yet seen for themselves […]
Yesterday UK Chancellor Phillip Hammond made a number of announcements and updates in the Autumn Budget 2018. You can see all things Autumn Budget and several summaries on the BBC website here. In our most in depth Your Thoughts piece to date, Lawyer Monthly rounds up the country’s leading experts in a variety of sectors, […]
With ongoing discussions around the Cypriot failure to tackle money laundering and economic crime, global banking expert Robert Lyddon discusses US efforts to force the island to improve its policies. On June 14th 2018 the Central Bank of Cyprus (CBC) sent a circular to all Cyprus’ banks enjoining them to better and more complete Due […]
What are the possible tax reporting issues that crop up with Smart Contracts? Below, Jimmy Royer, Principal and Alan G. White, Managing Principal, at Analysis Group, Inc., conclude that the SEC and IRS will need to develop different monitoring approaches, frameworks and guidance for private blockchain systems that will most likely be used. As new […]
New research from Acritas reveals the dramatic growth of the Big Four’s legal brands among alternative legal service providers. This Index has been established to identify the strongest brands within this new and rapidly growing part of the broader global legal industry. Senior in-house counsel were asked to name organizations that provide legal services, excluding […]
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