Managers of Wealth Americas

Citigroup to seek licences for new wholly-owned securities business in China

American bank is the latest foreign lender to seek expansion in China as the country further opens up its financial markets

Billionaire Robert Smith’s Lawyer Kepke Charged in Tax Case

Kepke allegedly helped Smith avoid taxes through entities

Ridge Barker comments on the SEC's latest guidance on special purpose acquisition companies

Ridge adds that a slowdown in SPAC activity could last two months given the agency’s latest accounting advice.

Financial Sector Reform Program Curaçao and Sint Maarten

The analysis has also revealed the need for legislative and regulatory reforms in the areas of intervention, enforcement, and resolution.

Carey Olsen supports Kavak on latest funding round as it hits US$4 billion valuation

Working alongside onshore counsel Gunderson Dettmer, the Carey Olsen team advising Kavak on the Cayman law aspects of its latest financing round was led by corporate partner Alistair Russell, assisted by associate Emily Cornhill.

US Corporate Transparency Act

The CTA does not specify how trusts and partnerships are to be treated.

Front Page Story and Back Page Correction: IRS Clarifies Its Public Cryptocurrency Position in Internal Guidance

Hard forks could be treated as sales or exchanges, but it’s unlikely that the new blockchain would differ materially in kind and extent so as to be treated as a taxable sale or exchange.

New Tax Transparency Rules for Digital Platforms introduced by DAC 7

The overall aim of this Directive is to improve administrative cooperation in the field of taxation and address the challenges posed by the digital platform economy.

Cryptocurrency users beware: IRS targets unknown taxpayers via John Doe summons

The summons require the crypto exchanger to produce records identifying all such taxpayers falling above this US$20,000 threshold, along with any documentation related to their cryptocurrency transactions.

U.S. Senate Banking Committee Probes Family Office Businesses

The letter was sent not only to those that suffered damages with Goldman Sachs and Morgan Stanley also receiving the inquiry.

Canaccord Genuity Group Inc. Announces Completion of Redemption of 6.25% Convertible Debentures

With the redemption of the convertible debentures, the weighted average number of common shares used for purposes of calculating diluted earnings per share will no longer include the dilutive effect of the convertible debentures and, as such, the fully di

Box announces strategic partnership with KKR, Including $500 million KKR-led investment

The investment from KKR is a strong vote of confidence in our vision, strategy, and continued efforts to increase growth and profitability,”

Linklaters advises Arrival on its SPAC transaction and trading on the NASDAQ Exchange

Arrival has developed a new method of designing and producing zero-emission vehicles using its proprietary hardware, software and robotics technologies and low cost microfactories.

Sanne enters into an agreement to acquire STRAIT

STRAIT’s proven management team and strong entrepreneurial culture are well aligned with Sanne’s own emphasis on service excellence.

An Asynchronous and Divergent Recovery May Put Financial Stability at Risk

The economic trauma would have been much worse if the global economy had not been supported by the unprecedented policy actions

FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement

The CTA requires FinCEN to maintain the reported beneficial ownership information in a confidential, secure, and non-public database.

Baker McKenzie advises on US$410 million high yield bond issuance by Liberty Latin America's subsidiary VTR

J.P. Morgan acted as Global Coordinator and BNP PARIBAS, Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co. LLC, Morgan Stanley, Santander and Scotiabank acted as Joint Bookrunners in connection with the transaction.

RBC successfully completes sale of its Eastern Caribbean banking operations

This transaction will allow RBC to align investments and resources into markets where our vision for being the Caribbean’s digitally-enabled relationship bank can be executed most-successfully,” said Rob Johnston, Head of Caribbean Banking.

BofA, Deutsche, HSBC Bond Settlements Worth $96 Million Get Nod

“Success in complex cases such as this one is inherently uncertain, and there is no guarantee that continued litigation would yield a superior result.”

Costa Rican Banks Strengthen Themselves to Counter the Growing Digital Scams

Educational campaigns would help stop cyber criminals

Legal, Regulation & Compliance