02/10/2016
Mifid II rules delayed by a year to 2018
ESMA will have to design data exchange systems with about 300 trading centres offering around 15 million financial instruments in order to implement the regulation.
Legal,Regulation,Tax & Compliance
02/10/2016
5 Tax Mistakes Made by Rich People
From failing to understand tax-loss-harvesting rules to a lack of knowledge about international investing laws, these errors cost rich people both money and time.
02/09/2016
FCA fines former Head of JP Morgan’s CIO International
The Financial Conduct Authority (FCA) has fined Achilles Macris £792,900 for failing to be open and co-operative with the Authority.
02/08/2016
NAJIB'S Arabian Nightmare Begins
In Saudi Arabia, Foreign Minister Adel al-Jubeir said that he accepted the attorney general’s opinion that there had been no wrongdoing, but he also said that he did not think that the money had come from the Saudi government or that it was a politi
02/08/2016
Northern Trust: Navigating Funds Regulation
At a recent Northern Trust event in London, 40 percent of the attendees said they do not expect their investors to be engaged in UCITS and AIFMD considerations by December 2016
02/08/2016
More than a billion pounds a year 'lost to Government due to wealthy Britons avoiding tax'
'You can choose how much you want to pay, it’s pretty much down to your moral barometer'
02/08/2016
Former FIFA watchdog member jailed for seven years
While the charges were not football-related, the verdict against a man who served on a body which monitored FIFA's finances is another blow to the image of the organisation facing an unprecedented corruption crisis.
02/08/2016
Scotland advertised across Eastern Europe as tax haven
A new round of publicity for Scotland as an "offshore zone" began this month, more than six months after it was alleged that $1 billion had been funnelled out of poverty-stricken Moldova through Scottish shell companies.
02/08/2016
Lost at Sea: Why FINRA’s Lack of Formal Guidance to CCOs Could Leave Them Adrift in Dangerous Regulatory Waters
Odysseus’ dilemma sprang to mind as I listened to a presentation last week from a panel that included a FINRA attorney meant to provide guidance on situations where FINRA will target an individual employee in addition to or instead of the offending
02/08/2016
French tax fraud trial of disgraced former minister Cahuzac opens
Jérôme Cahuzac, chosen by François Hollande to clamp down on tax avoidance, admitted he hid €600,000 in Swiss bank account
02/08/2016
Offshore law firm announces Management changes post MBO
Legal Group makes sweeping changes to its Board to drive renewed strategy
02/05/2016
Julius Baer announces final settlement with the U.S. Department of Justice regarding its legacy U.S. cross-border business
This settlement is the result of Julius Baer’s proactive and long-standing cooperation with the DOJ’s investigation.
02/05/2016
Ex-Julius Baer bankers to plead guilty in U.S. in Swiss tax case
Their prospective pleas came after Julius Baer in December disclosed that it had reached a deal with prosecutors to pay $547.25 million to resolve a probe born out of a U.S. crackdown on offshore tax evasion by Americans through Swiss banks.
02/05/2016
Private banker Yak Yew Chee withdraws request to release funds frozen in 1MDB probe
Mr Yak, a senior private banker with the local unit of Swiss bank BSI, did not appear at Friday's hearing, but the Straits Times understands he is in Singapore.
02/04/2016
Get your passport… cross-border marketing of retail funds in Asia Pacific
As the funds market in Singapore and the wider Asian region has grown, so have the calls for a regulatory framework that will allow retail funds to be marketed more easily across the region's national borders.
02/04/2016
Switzerland Says Stolen Data Issue Impacting Tax Cooperation With India
India and Switzerland have been working closely on mutual administrative assistance on tax matters and both sides have expressed their willingness to step up the cooperation.
02/04/2016
Greenberg Traurig Confirms Tie-Up Talks With British Firm
Rosenbaum declined to comment further on the potential U.K. tie-up.
02/04/2016
Feds Helped Hide Investigation Into HSBC Money Laundering For Drug Cartels
In addition to failing to prosecute clearly criminal behavior that any average American would be imprisoned for committing, from the outset, the DOJ assisted HSBC in keeping its dealings clandestine.
02/03/2016
UBS Followed Rules in Hiring Credit Suisse Brokers, Ermotti Says
Credit Suisse said in October that Wells Fargo & Co. would have the inside track on recruiting its staff as the Swiss bank pulled back from wealth management in the U.S.
02/03/2016
BCRS Associates members join EY Private Client Services
BCRS, a tax firm, has focused on the needs of high net worth individuals and family offices of individual high net worth and family office clients.