FinTech
Banks and fintechs have become turbo-charged collaborators
The confluence of artificial intelligence, and digital assets and currencies is turbo-charging the relationship between traditional banks and fintechs – and the growing premium on trust and human oversight will bring this ecosystem together more forcefully. HSBC’s inaugural Asia Fintech Summit in Hong Kong on 21 August 2026 was an opportunity to celebrate this […]
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Legal
Burnham urged to tax wealthy pensioners
Andy Burnham should raise taxes on wealthy pensioners to rescue the public finances, Labour’s favourite think tank has urged. The Institute for Public Policy Research (IPPR) called on the Prime Minister to introduce National Insurance on pensioners’ incomes to shield workers from further levies. Economists said in a new report that the policy, […]
New Chinese Mainland offshore trust tax regime: immediate implications for settlors, beneficiaries and trustees
On 24 July 2026, the PRC Ministry of Finance and State Taxation Administration issued sweeping new regulations governing the taxation of offshore trusts, which represent one of the most significant developments affecting Chinese Mainland-linked offshore wealth structures in recent years (the 'Announcement'). Rather than targeting a single aspect of trust planning, the Announcement creates […]
Ex-Deutsche Bank branch employee to stand trial for alleged embezzlement
A former Deutsche Bank employee was set to go on trial on Tuesday for allegedly embezzling hundreds of thousands of euros in customer funds as a banker at the lender's flagship branch. Deutsche Bank said it had discovered the case last year involving the theft of a six-digit euro amount. Less than 10 customers […]
UK launches home inspections to determine 'mansion tax' wealth surcharge
The tax authorities in the UK are to send inspectors to high-value properties to determine that owners pay a new wealth tax on its value. HMRC will deploy valuation agents with the ability to demand entry to assess whether homes are worth over £2 million ($2.6 million) and so come under the high-value council […]
Macfarlanes advises Canaccord Wealth on acquisition of EFG Harris Allday
Macfarlanes has advised wealth management firm Canaccord Wealth on the acquisition of the front office teams and client assets of EFG Harris Allday from EFG International. EFG Harris Allday is a UK wealth management firm primarily serving high-net-worth individuals across the Midlands region. The business currently sits within EFG Private Bank, itself a subsidiary […]
PIMFA raises concerns over FCA’s disclosures plan
PIMFA has raised concerns over the FCA’s Simplifying Consumer Investment Disclosures consultation. The regulator is seeking to make improvements to the rules around the disclosures required to sell investment products and services to retail investors. PIMFA said it is ‘supportive’ of the FCA’s objective of simplifying disclosures, but believes some of the proposals […]