This edition of the Private Banking Newsletter contains wealth management-related updates and legal developments from 27 countries across five continents.

This newsletter gives a summary of legal developments related to wealth management from Baker & McKenzie offices across the globe.

This is the October 2012 edition of the Paris Tax Newsletter.

The Rectifying Finance Law no. 2011-900 dated 29 July 2011 enacted a specific tax regime applicable to trusts, notably created a reporting obligation for trustees of trusts of which the settlor or at least one of the beneficiaries has a tax residence in France or includes an asset or a right located in France (Article 1649 AB of the French tax code FTC), except financial investments as provided in the administrative ruling no. 2011/37 dated 23 December 2011. The modalities of application of these reporting obligations were to be provided in a decree which was finally published in the official publication of enacted laws and regulations in France (Journal Officiel) on 15 September 2012.

This newsletter gives a summary of the latest wealth-management-related legal developments prepared by Baker & McKenzie partners and lawyers across the globe.