Managers of Wealth

Tax traps for unwary immigrants

The test for citizenship is relatively straightforward.

IMF Guides On Taxing Wealthy Taxpayers

The report points out that in 2015 an estimated 34 million HWIs worldwide had accumulated wealth of at least USD1m each.

Advisers stand by Old Mutual amid replatforming U-turn

Nearly 90 per cent of advisers say they won’t shift platform despite provider backtracking on replatforming deal

BEPS Action 13: OECD releases CbC reporting implementation status and exchange relationships between tax administrations

More jurisdictions will nominate partners with which they will undertake the automatic exchange of CbC Reports under the CbC MCAA in the coming months.

Asset managers set to miss Mifid II deadline on research

Regulatory uncertainty has been one driver of fund firms’ delay in facing up to the changes.

Cautionary fraud tale for pro athletes with sudden wealth

They want to avoid joining a long list of pros who have been steered into questionable investments.

OECD launches facility to disclose CRS avoidance schemes

In total, 100 jurisdictions have agreed to start automatically exchanging financial account information in September 2017 and 2018, under the CRS.

Married banker, 36, ‘pimped out’ to wealthy Arab client in bid to land £25m account

The woman claimed the client bombarded her with love songs and inappropriate text messages

Credit Suisse says tax probe linked to historical business

Its quarterly financial report released on Thursday, adding it was cooperating with the authorities.

HSBC finance chief attacks accounting rule changes as bank’s profits leap 12%

This is a good set of results

Managing regulatory and compliance risk at investment management firms by Doug Dannemiller, Lynette DeWitt, Ankur Gajjaria

Even before 1917, when a case before the Supreme Court referenced speculative securities schemes that had no more value than a patch of blue sky,1 regulatory agencies have attempted to protect investors from fraud, and provided frameworks for fair and ord

Non-dom art collectors in UK could be hit with new taxes

Even works held and sold abroad could be liable for UK tax

UK Introduces Criminal Offence For Facilitating Tax Evasion

The legislation will make corporates liable not just for tax evasion facilitated by their employees but also external agents and service providers.

Basel 3, an international capital-adequacy standard, is unloved but much needed

International bank regulation is grinding towards completion—or possibly to a halt

Spain names 7 former HSBC bankers as suspects in money laundering case

At the heart of the Spanish case are accusations that HSBC helped Spanish clients to transfer abroad and later repatriate funds “with the intention of hiding them from the public treasury”, the High Court said.

TISE launches Channel Islands and Isle of Man segments

Companies are eligible for inclusion on the Channel Islands or Isle of Man segments if they are trading companies

Critical Anti-Tax Evasion Legislation Under Attack

The forum could have been an opportunity to spur reasoned debate to address some of the issues raised by FATCA.

Spanish court to question Santander, BNP bankers in HSBC tax probe

The euro zone's largest bank by market value, said in a statement it had complied with the law at all time and had actively cooperated with the court by providing all the documentation and information requested.

Hedge Funds Become Latest Target for Whistleblowers: $40 Million Settlement in Tax Case Demonstrates Broad Reach of New York’s False Claims Act

The basis for the fraud claim, may usher in a whole new wave of potential liability against hedge funds and similar businesses.

Spain sets sights on Gibraltar model in Brexit talks

Madrid’s stance comes as the EU hardens its position towards the UK government and tensions grow between Brussels and London.

Legal,Regulation,Tax & Compliance