Managers of Wealth

Tax Havens: How They Work and Can You Do It Too?

There is practically no legal way for a U.S. citizen to avoid paying U.S. taxes, even if this income is somehow connected to a shell company in a low tax jurisdiction, or tax haven.

Stricter Debt Controls Set For Chinese Asset Managers

CSRC likely to cap debt ratio for equities investment at 100 per cent for asset management businesses

SEC Awards More Than $5 Million to Whistleblower

Award is SEC Program’s Third Highest to Date

FINRA Fines Raymond James $17 Million for Systemic Anti-Money Laundering Compliance Failures

Investors may find copies of this disciplinary action as well as other disciplinary documents in FINRA's Disciplinary Actions Online database.

Switzerland, Bahrain Agree Text Of Double Tax Pact

A double tax agreement was initialed to ensure that income from persons engaging in trade and investment is not taxed twice.

EU parliamentary group wants the US blacklisted as a tax haven

The European Parliament’s special committee on taxation was set to send a fact-finding delegation to Washington this week to look into the state of tax avoidance in the US.

United States: Managing Accounting And Tax Compliance In Foreign Markets - TMF

Global expansion is high in the agenda for many US companies but along with new opportunities it also brings tax and accounting challenges.

Businesses need to gear up for new corporate criminal tax evasion facilitation offence, experts say

In higher risk businesses, the level of training given to staff in different divisions or roles could also vary depending on the risk level of their activities, Haslett said.

FCA bans Keydata’s former compliance officer

Were it not for Mr Johnson's serious financial hardship, the FCA would have fined him £200,000.

Beneficial ownership: Government says US must sign first

Cayman’s participation in the summit was predicated on it joining an initiative for the automatic exchange of beneficial ownership data.

A Summary of the Features of Bermuda Trusts by Ashley Fife, Senior Associate, Appleby

Bermuda law provides its courts the power to vary beneficial interests and administrative powers of trusts where it is in the interests of the beneficiaries to do so.

The Market Punished “Panama Papers” Firms to the Tune of $230 Billion

It also created an academic windfall: the opportunity to study the real financial impact of offshore vehicles.

Report: Swiss bank in 1MDB saga 'investigating its employees'

BSI’s ongoing inquiry reportedly comes as authorities across the globe examine claims that 1MDB was used to funnel money to politically-connected individuals.

The marijuana industry is in a 'catch-22'

The chief problem with the marijuana industry boils down to a states' rights issue.

“The difference between tax avoidance and tax evasion is the thickness of a prison wall”

As former British Chancellor of the Exchequer Denis Healey succintly put it, “the difference between tax avoidance and tax evasion is the thickness of a prison wall”).

Cayman Islands: Confidential Relationships Law to be repealed - Appleby

The Government of the Cayman Islands has this week gazetted a bill to repeal the statute that has frequently – and mistakenly – been described as Cayman’s banking secrecy law.

UBS Urges Judge Not To Hold It Liable For Mortgage Bond Losses

UBS AG urged a U.S. judge on Friday to reject claims that it should be held liable for $2 billion in losses that investors incurred on mortgage-backed securities issued before the collapse of the U.S. housing market.

Hong Kong residency draws interest from China's elite

Top officials in China's Communist Party are tied to this link via relatives who have established permanent residency in Hong Kong.

Bank blunder millionaire spent bulk of A$4.6 million on designer handbags, ‘deluxe vacuum cleaner’

A Malaysian student in Australia who mistakenly received A$4.6 million due to a banking error had allegedly spent a large amount on designer handbags, clothes and a ‘deluxe vacuum cleaner’.

Rich are exploiting inheritance tax loophole

Michael Noonan, the finance minister, has been told about the extensive use of the loophole, according to documents released under the Freedom of Information Act.

Legal,Regulation,Tax & Compliance