EVENT: Transparency of Wealth and Taxes: are your clients ready?

Date: 3rd June, 2016 Time: 12:30 pm - 02:30 pm
Transparency of Wealth and Taxes: are your clients ready?

Our latest 'Corporate Members' lunch, held on 3 June, addressed new regulations and laws that affect the reporting of wealth and taxes. The lunch was sponsored by KPMG.

Representatives from thirteen Corporate Members attended the lunch. The discussion was led by three senior executives from KPMG:

Mike Walker: Partner, Private Client Advisory

Derek Scott: Associate Partner, Head of Tax Investigations

Mariam Moi: Senior Manager

The KPMG experts pointed to the heightened rhetoric from the UK government on issues of tax evasion and the use of offshore companies as investment vehicles. They also explained the extent of the new obligation (since April 2016) for unlisted companies to maintain a register of people excercising 'significant control' over their operations.

There was a discussion of the forthcoming Common Reporting Standard (CRS) that will require financial accounts of many Trust structures to be disclosed in a way that was not required before.

More generally, it was noted that the concept of 'privacy' is changing and that much more disclosure of sources of wealth and of investment structures will be required in future. Furthermore, the penalties for infringing the rules are increasing both for companies and for individual wealth managers and advisors. 

ABA members who are interested in seeing the KPMG slide presentation distrbuted at the lunch should contact one of the three KPMG experts who gave the presentation.

mike.walker@kpmg.co.uk

derek.h.scott@kpmg.co.uk

mariam.moi@kpmg.co.uk

In the photograph above, Derek is on the left and Mike is on the right. Second from the left is George Kanaan, the ABA's CEO.

This is the second Corporate Members Lunch that we have held in 2016.  The first addressed issues related to the new Senior Managers Regime that affects banks regulated in the United Kingdom by the Prudential Regulation Authority.

 

 

 


More in Events

The fight against financial crime - a practical guide

The fight against financial crime - a practical guide

On 13 February we held a seminar on the fight against financial crime. It was sponsored by Mishcon de Reya and FTI Consulting.

  • Date: 13th February, 2020
  • ABA Offices, Mayfair

ABA hosts meeting between Arab banks and regulators

ABA hosts meeting between Arab banks and regulators

We hosted a meeting of senior Arab bankers in London and officials from the Prudential Regulation Authority, as part of our efforts to promote dialogue between our members and their regulators. 

  • Date: 22nd January, 2020
  • ABA Offices, Mayfair

Christmas Party rounds off successful year for ABA

Christmas Party rounds off successful year for ABA

Our Christmas party attracted nearly 100 members and guests and was a fitting end to a successful year for the Arab Bankers Association.      

  • Date: 12th December, 2019
  • ABA Offices, Mayfair

Annual General Meeting confirms robust health of the Association

Annual General Meeting confirms robust health of the Association

Our Annual General Meeting was held on 22 November. The annual accounts show that the the Association is in strong financial health, with corporate memberships at record levels. 

  • Date: 22nd November, 2019
  • ABA Offices, Mayfair

ABA Operational Resilience Group meeting

ABA Operational Resilience Group meeting

PWC hosted a meeting of ABA member banks to consider ways in which they could work together to strengthen their operational resilience.

  • Date: 30th September, 2019
  • PwC Offices, London

Upcoming ABA Events


Other Upcoming Events