16 Jan 2019
A new regulatory requirement for Trust or Company Service Providers in Hong Kong to be licensed by the Registrar of Companies and satisfy a 'fit and proper' test, in order to operate a trust or company service business in Hong Kong, took effect from 1 March 2018. The new licensing regime, introduced under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, reflects Hong Kong’s continued efforts to reinforce its regulatory framework and its position as a leading international financial centre.
7 Jan 2019
Maples Fiduciary has announced that it has received a Trust Company Business Licence from the Jersey Financial Services Commission and has established an on-the-ground presence in Jersey.
10 Dec 2018
Maples Fiduciary has appointed Dennis van den Broek as Director, Business Development in North America, in a key strategic appointment to enhance its service offering to investment funds and structured finance vehicles.
3 Dec 2018
The Bipartisan Budget Act of 2015 changed the way the Internal Revenue Service ("IRS") deals with audits of partnerships and replaces the previous requirement to designate a "Tax Matters Partner." Under this regime, entities filing as a US partnership for tax purposes are required to name a US based "Partnership Representative" of the partnership to act as a liaison and handle matters before the IRS.
15 Nov 2018
Maples Fiduciary has announced the addition of strategic hires, Campbell Congdon and Wendy Zhang, who have joined to serve as independent directors and provide fiduciary services to a wide range of alternative investment funds, including hedge funds, fund of funds, private equity funds, unit trusts and segregated portfolio companies.