Globally, the total wealth of billionaires rose by 17 percent in 2016 to USD 6.0 trillion. Despite a period of heightened geopolitical uncertainty, the world’s ultra-wealthy are flourishing. We’re analysing in this post the wider societal impact of billionaires in terms of job creation and providing access to cultural capital. Where …
Now that the largest Luxembourg banks have published their balance sheet, we have a clearer view on what 2016 looked like. Let’s face the music, all credit institutions share the same reality: cost control remains a top concern. At stake: new regulations and low rates definitely make their life harder. …
Governments across the world are increasingly putting tax transparency at the top of their agenda. In this context, the OECD developed the Common Reporting Standard (CRS) as a global reporting standard to achieve a complete and multilateral automatic exchange of information framework. The Luxembourg CRS first reporting is due on …
The European Parliament has approved the new Regulatory Technical Standards for PRIIPs in early April. Whether you are an insurer, banker, asset manager or third party, you fall within their scope.
The UK will have to rethink its activities passported to the EU because of Brexit. Significant legal uncertainties will arise for UK banks to get EU equivalencies and as a result of the loss of EU passporting. London will then have to work like the Swiss, with EU hubs beyond …
Banking is at a crossroads, facing threats and opportunities from events like Brexit, as well as continued change from social and technological evolution. Disruption is no longer on the horizon; it’s on banks’ doorstep. Here are three reasons why a banking revolution is underway.
