OECD announces progress made in addressing harmful tax practices (BEPS Action 5) 29/01/2019 – The OECD has released a new publication, Harmful Tax Practices – 2018 Progress Report on Preferential Regimes, which contains results demonstrating that jurisdictions have delivered on their commitment to comply with the standard on harmful tax practices, including ensuring that preferential regimes...Read More

British Overseas Territories’ deadline for public ownership registers slips to 2023 Britain’s Overseas Territories (OT) will not be forced to establish public registries of company beneficial ownership until 2023 at the earliest, rather than the 2020 deadline demanded by UK Members of Parliament (MPs), it has emerged. In May last year, a cross-party group of...Read More

Criminal Justice (Money Laundering And Terrorist Financing) (Amendment) Act 2018 Signed Into Law   The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 was signed into law on 14 November and came into force on 26 November, resulting in the complete transposition of the Fourth Money Laundering Directive (MLD4) into Irish law. The...Read More

CDB 20: revised code of conduct in the area of the fight against money laundering The SBA has published the revised Agreement on the Swiss banks’ code of conduct with regard to the exercise of due diligence (CDB 20). The now stricter self-regulatory agreement is an important component of the Swiss counter-measures for the fight...Read More

SWITZERLAND: Money laundering amendments will enforce beneficial ownership checks   Switzerland has begun consultation on amending the Anti-Money Laundering Act, to take account of recommendations from the Financial Action Task Force’s 2016 mutual evaluation report on the jurisdiction. The amendments will introduce due diligence obligations for certain services regarding establishment, management or administration of companies...Read More