04/25/2012

Fugitive Swiss bank forfeits $16m

In an order made public on Tuesday, U.S. District Judge Laura Taylor Swain in Manhattan entered the forfeiture order, covering money seized from a U.S. correspondent account held at UBS in Stamford, Connecticut.

04/24/2012

Minister accused of money-laundering via UBS

The Federal Prosecutor’s Office and the Federal Justice Office have confirmed that Switzerland last year gave legal assistance to Hong Kong in a money-laundering case against Musa Aman, Chief Minister of the Malaysian State of Sabah on Borneo.

04/23/2012

China Court Spares Life of Millionaire

China's highest court spared a 30-year-old millionaire once labeled one of China's richest women from the death penalty, in a case that drew attention to the country's underground lending market and elicited an outpouring of online protests

04/23/2012

Scottish private client firm launches Glasgow base

The private client specialist, which already has offices in Edinburgh, London, Guernsey and Geneva, has revealed that it is in advanced negotiations to sign a lease on a site close to George Square.

04/23/2012

UK regulator loses UBS supervision test case ‎

The Financial Services Authority (FSA) has lost a test case involving UBS in which it tried for the first time to punish a senior manager for inadequate supervision rather than for errors he personally committed.

04/23/2012

Italy rules out wealth tax, other new taxes

The government "does not have plans" for a wealth tax or other fiscal measures, Grilli said during testimony before the Chamber of Deputies parliamentary budget committee.

04/19/2012

Hong Kong Billionaire Denies Bribery Allegation

Ao is currently on trial for corruption and money laundering. On Monday, the court was told that a company controlled by Lau and Steven Lo allegedly paid a bribe of 20 million Hong Kong dollars ($2.6 million) to the defendant in 2005.

04/19/2012

New UK Non-Dom Scheme Welcomed

The legislation, which came into effect on April 6, has been given a cautious welcome by law firm Boodle Hatfield.

04/19/2012

London chases holders of Swiss accounts

From 2013, the so-called “Rubik” deal – judged “fully compliant” with European Union law on Tuesday by the bloc’s taxation commissioner – should forbid such operations, but the accord is open to interpretation.

04/18/2012

UBS Unit Will Cooperate With French Tax-Evasion Investigation

Paris prosecutors opened a formal investigation April 12, after conducting a preliminary inquiry with the customs service into a complaint by France’s Prudential Control Authority in February 2011 over the bank’s practices in France.

04/17/2012

Central Bank said to buy Anglo Irish Tower

The bank will buy the building on North Wall Quay from the National Asset Management Agency, said the person, who asked not to be identified because the details are private. Anglo