Banque Havilland in Liechtenstein is undergoing voluntary liquidation, with its remaining client assets, once totaling CHF 1.6 billion, now being transferred to Sigma Bank. The deal, confirmed by the liquidator KPMG, is characterized as a referral arrangement rather than an asset deal, with significant uncertainty surrounding the exact amount of assets still available.
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News from AND
Generated 0 posts last week Messi launches real estate investment trust in Spain with 223 million euro cap
Lionel Messi’s real estate investment trust, Edificio Rostower, debuted in Spain with a market cap of 223 million euros, trading at 57.4 euros per share. Currently, the trust is solely owned by Messi’s family investment vehicle, Limecu Espana 2010, but plans to open to new investors. The company, which owns several properties including hotels and apartments in Spain, London, and Paris, reported a loss of 1.7 million euros in 2023.
read moreMajor Data Leak Exposes Wealthy Clients of Zurich Financial Firm
A significant data breach has hit Boreal Capital Management in Zurich, exposing sensitive information of around 700 clients, including Politically Exposed Persons from Spain, Portugal, Andorra, and Venezuela. The stolen 50 gigabytes of data, now in the hands of the ICIJ, reveals client assets held at major banks like UBS and Pictet. Boreal confirmed a cybersecurity incident linked to an external malicious group, with initial reports incorrectly implicating the law firm Walder Wyss.
read moreBanking License Withdrawal Triggers Sale Efforts for Banque Havilland Subsidiaries
The ECB’s banking supervisory authority revoked Banque Havilland’s license in Luxembourg, prompting the search for buyers for its subsidiaries in Monaco and Liechtenstein. Andbank withdrew from acquiring the Monaco branch, while a consortium of private individuals, including industry heavyweight Martin Gilbert, is set to take over, pending regulatory approval. In Liechtenstein, EFG International is emerging as a likely buyer as the subsidiary prepares for an asset deal following its decision to self-liquidate.
read moreThe Evolution of Poloniex: A Comprehensive Review of the Cryptocurrency Exchange
Poloniex, a cryptocurrency exchange, is regulated by the FSA of Seychelles, FINRA, FinCEN, and EEA regulators. It offers a wide range of cryptocurrencies, user-friendly trading interface, and low fees. However, it only accepts cryptocurrency deposits and has strict verification processes for large withdrawals.
read moreBulgaria: Low Taxes, Schengen Membership, and Cryptocurrency Regulation Insights
Bulgaria offers opportunities for obtaining residence permits through various means such as investment, employment, or study. The country has low tax rates and is favorable for cryptocurrency activities, despite the lack of specific regulations. Additionally, citizenship can be obtained through naturalization or by having Bulgarian relatives.
read moreIMF Provides Technical Advice on Recording Bitcoin Transactions in Andorra
The IMF provided technical advice to Andorra on recording Bitcoin transactions, emphasizing the need for monitoring crypto assets. Meanwhile, a recent IMF study highlighted the potential of digital currencies for Pacific Island countries, cautioning against unbacked cryptocurrencies as national currency and urging a regional approach to digital money.
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