Latest Intelligence on Financial Services in Luxembourg

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Type Product title / description Pub Price
Expert View
Expert View

Switzerland sticks to bank secrecy, for now

Switzerland is resisting pressure from the EU and says it will not follow Luxembourg in abandoning bank secrecy. The fact that the country eventually, albeit reluctantly, signed a FATCA agreement with the US indicates that if Switzerland wants to survive as an offshore financial center it will eventually have to accommodate EU demands for greater transparency.

Published By Datamonitor
17 Apr 2013
CommentWire
CommentWire

Offshore funds: New Year tax amnesties

The German and Belgian governments have both launched tax amnesties in an effort to repatriate funds held by their citizens in offshore locations. While Luxembourg has reacted strongly to what it feels is a discriminatory move by the Belgians, Switzerland appears largely unconcerned, probably because of the unattractive German tax penalties.

Published By Datamonitor
06 Jan 2004
ResearchWire
ResearchWire

Offshore fund management: retail investors account for just over half of assets

Published By Datamonitor
01 Feb 2006
CommentWire
CommentWire

Offshore banking: hunting terrorist funds

Pictet claims the problem is a mix-up over names. Whether or not this proves to be the case, the increased efforts against terrorism and money laundering are diminishing one of offshore banking's key advantages for clients. Alongside other factors, this will lead offshore assets to grow slower than onshore assets over the next few years.

Published By Datamonitor
18 Feb 2002
Expert View
Expert View

Luxembourg remains the largest offshore center in the world

Since 2008, a number of initiatives launched by many Western economies at a global level have been aimed at traditional offshore centers in order to stop them being used as tax havens by the rich. Luxembourg, however, has maintained its position as the largest offshore center in the world, thanks to its dominance in the European funds market, especially among offshore clients.

Published By Datamonitor
19 Jul 2012
CommentWire
CommentWire

Kredietbank Luxembourg: bolstering its Belgian boutiques

Kredietbank Luxembourg (KBL), a subsidiary of the KBC Group, has agreed to buy HSBC Dewaay, a private bank owned by HSBC and operating in Belgium and Luxembourg. This looks like a sensible move, as adding Dewaay to its Puilaetco Private Bankers division should boost KBL's presence in Belgian private banking, as well as underscoring the potential of the 'boutique' banking model.

Published By Datamonitor
14 Jul 2005
CommentWire
CommentWire

Kredietbank Luxembourg: Belgium bound

KBL has beaten its European peers in a sale carried out very much on Puilaetco's terms. However, in addition to further extending its European private banking network, the acquisition will provide KBL with a much more important advantage - a presence in Belgium with a chance of collecting offshore funds returning home.

Published By Datamonitor
05 Apr 2004
CommentWire
CommentWire

Investments: EU causes alarm and despondency

Published By Datamonitor
25 Jan 2001
CommentWire
CommentWire

Fortis: the fine line between hunter and prey

Fortis' Q1 profits have reached E831 million, ahead of expectations. However, these expectations were low following a series of profit warnings. Fortis' fate will now be decided on whether it can keep beating the economic downturn and deliver its promised 12% yearly profits as the next round of mergers begins in European financial services.

Published By Datamonitor
29 May 2002
Expert View
Expert View

FATCA: UK follows in US's footsteps

The Cayman Islands has announced that it will implement a FATCA Model 1 intergovernmental agreement with the US and that it will seek similar automatic exchanges of information with the UK. The announcement marks the latest major offshore jurisdiction to enter into a FATCA agreement with the US and, unsurprisingly, also with the UK.

Published By Datamonitor
05 Apr 2013

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