Richard Moir, The Wealth Forums CEO
Daily Wealth Letter
a daily synopsis of the wealth news that’s most relevant, timely and dependable
Compiled and edited by Ian Brodie of The Wealth Forums (www.thewealthforums.com)
NUMBER 362 THURSDAY, DECEMBER 22, 2016
Register would not be public
The Cayman Islands Ministry of Financial Services, Commerce and Environment has invited the public to provide preliminary comments on a proposal, ahead of a longer consultation period on the draft legislation itself, to create private beneficial owner registers, which will form part of a centralised platform of beneficial ownership information earmarked for mid-2017 which is, perhaps not coincidentally, the deadline for EU member states to implement the beneficial ownership register provisions of Article 30 of the Fourth Anti-Money Laundering Directive. READ MORE: http://thewealthforums.com/
Monaco boosts financial services
Monaco’s elected National Council recently gave its approval to the establishment of Multi Family Offices (MFOs) in the Principality. While there are already about 40 Single Family Offices operating in Monaco, MFOs will be able to offer a range of services to more than one family. READ MORE:http://thewealthforums.com/
Italian state moves to save oldest bank
The world’s oldest bank, Monte dei Paschi di Siena, is poised for a multi-billion state bailout after it admitted on Wednesday that a private rescue plan was unlikely to succeed. READ MORE:http://thewealthforums.com/
NEXT WEALTH FORUM EVENT: Monaco Wealth Forum,
March 15, Cafe de Paris, Monte-Carlo
The Wealth Letter is published every business day by The Wealth Forums: www.thewealthforums.
