Managers of Wealth

New FATCA regulations are out, institutions must act fast

The FATCA Seminar was tailored to address the unique needs of Middle Eastern institutions, including Islamic banking and takaful insurance structures as well as sovereign wealth funds, and family offices.

OECD recommends action on international tax loopholes

Aggressive tax planning – untaxed income, multiple deductions and other forms of international tax arbitrage - is a growing concern for all governments.

Hedge-fund manager says sexy ex-assistant’s not in his league

Dark-haired Ukrainian head-turner Renata Shamrakova, 26, was busted Thursday by the Manhattan District Attorney on charges of bilking the financier of nearly $1 million during the year that she was his personal assistant.

The UK tax system has reached breaking point

The bottom line is that people think it a jolly good thing that others are taxed, but they deeply resent paying it themselves.

US-Swiss tax treaty passes large parliamentary hurdle

The treaty would allow the US to make a request for judicial assistance without supply the names and addresses of the US residents suspected of offshore tax evasion if there is clear evidence that a bank or its employees are suspected of encouraging such

Credit Suisse trader loses employment tribunal

A Credit Suisse trader who claimed his boss told him to pull himself together when he complained of feeling suicidal has lost his tribunal claim.

Foreign Account Tax Compliance Act in Costa Rica

Do Canadians and Europeans have to be concerned with understanding this at all?

Swiss lawmakers set for tax plan vote

Switzerland's lower house will vote on a proposal clarifying how Switzerland would hand over data on wealthy Americans suspected of dodging taxes at home.

HSBC provides info on clients having accounts in India to US Close

In April last year, HSBC Bank USA received summons from the US Internal Revenue Service (IRS) asking the entity to produce records with respect to US-based clients of an HSBC group company in India, the banking giant has said.

Baillie Gifford appoints Kii Hub for KIID solution

Asset managers already using the Kii Hub solution include Aberdeen Asset Management, Jupiter Investment Management Group, Ignis Asset Management, Martin Currie Investment Management and Neptune Investment Management.

Tax avoidance clampdown: Barclays statement in full

Barclays said it was the bank at the centre of a clampdown by Britain on two tax avoidance schemes that the government said would close loopholes and raise more than £500m in tax. Here is the bank's statement:

How to have a 'nice' divorce

Debrett’s Guide to Civilised Separation is not all social niceties, however.

FSA warns on 'default' suitability of independent advice solutions

The FSA says independent advisers will be able to use discretionary investment services, model portfolios, platforms and panels post-RDR as long as they are not the default solution and suitability is established for individual clients.

Bank tax dodges halted by retrospective law

A bank in the UK has been forced to pay more than half a billion pounds in tax which it had dodged by using "highly abusive" tax avoidance schemes.

German Foundation Eyes Wealth Tax Reforms

In its release, the Foundation explains that although private net wealth in Germany is four times public debt, the state nevertheless does not sufficiently tax large wealth.

HMRC launches tax evasion task force

In what has been described as a "gloves off" approach, HMRC will be launching the new task forces in the 2012/13 tax year, which begins April 6.

Metals trader fraudster given extra seven years

The banks – including West LB, JP Morgan Chase and Dresdner Bank – lost more than £400m after they were duped into backing a series of bogus metal shipment trades by Rastogi's firm RBG Resources and related companies.

Citi, UBS provide keys to widening interest rate-rigging probe

Citigroup and UBS, in a series of disclosures to law-enforcement officials, have provided crucial information to investigators in multiple countries as part of inquiries into whether the world's biggest banks manipulated a global benchmark interest r

Greece signs international tax agreement to tackle tax evasion

The Convention promotes international co-operation in the assessment and collection of taxes.

Swiss Banks May Have to Ensure Foreign Clients’ Tax Compliance

Swiss banks must ensure foreign clients are tax-compliant in their home countries, according to proposals by Switzerland’s government that pave the way for approval of an accord with the U.S.

Legal,Regulation,Tax & Compliance