Managers of Wealth

The new EU succession regulation – how will Switzerland be affected?

It has direct binding effect and will apply in all EU Member States except for the United Kingdom

New report compares performance, best practices and trends in 56 tax administrations

Tax administrations continue to face the challenges of improving their performance while reducing costs, decreasing compliance burdens for taxpayers tackling non-compliance.

Half million pound FCA fines against Luxembourg directors upheld

ARM was a securitisation vehicle based in Luxembourg which issued bonds and used the proceeds to invest in traded life assurance policies (also known as senior life settlement policies). ARM’s Bond Programme was registered with the Irish Stock Exch

Puerto Rico Investors Win Relief From UBS

Cases were decided by arbiters from Finra

Foreign Account Tax Compliance Act

Trustee and fiduciary service providers are subject to FATCA compliance requirements

Are You an Expat in the U.S.? Tips for Avoiding Tax and Investment Stumbles

Waiting years or decades to fully report foreign assets is likely to result in large tax penalties and require expensive legal and accounting work to become compliant.

The Cyber-Insider: Mystery Money Manager Arrested in Hacking

He seems like an American success story: an ambitious Russian who came to the U.S. and went from business school to Wall Street to his own hedge fund.

Luxembourg private foundation

The Bill is being discussed and is expected to be adopted before the end 2015.

Three More Swiss Banks Resolve Their Tax Issues with the United States

Swiss banks meeting all of the above requirements are eligible for a non-prosecution agreement.

Revenues surge as global crackdown on tax evasion gathers pace

The Paris-based OECD said last week that many transgressors were facing “the last window of opportunity” to disclose such information.

The OECD takes further steps to putting an end to offshore tax evasion

The OECD has released three new reports to help jurisdictions and financial institutions implement the global Standard for automatic exchange of financial account information

Offshore Messenger: Budget changes significantly impact offshore world

In a bid to raise more tax, the UK Summer Budget introduced a number of changes which will significantly impact the offshore world.

Wealth planning update - Withers

With this newsletter we would like to bring to your attention a number of international developments that are likely to be relevant for clients and their advisers alike.

Brazil tax amnesty plan may struggle to lure back offshore assets

It's going to be a major flop.

Tax concerns mount while richer clients claim manager disatisfaction

Almost half of high net-worths have cited climbing tax rates as their number one concern

More Swiss banks settle tax evasion probe with US

Three further Swiss banks have come to an agreement with the United States authorities over clients who evaded US taxes by using Swiss bank accounts.

Barclays' McFarlane bans jeans and flip-flops in culture clampdown

It said that while dress-down Fridays could still go ahead with jeans, trainers and T-shirts all permissible, flip-flops face an outright ban.

Soccer’s Romario Gets Apology After False Offshore Cash Claim

The timing of the Veja article coincided with the start of a parliamentary investigation into alleged corruption at Brazilian soccer’s governing body that Romario is leading.

5 firms, 6 emails / Electronic chat transcripts that cost billions

Emails, telephone calls and electronic chats were a crucial part of the damning evidence

Double taxation pact reflects growing importance of Oman: Swiss envoy

That agreement, originally signed in 2009, came into effect on July 1 this year, according to Curtis law firm.

Legal,Regulation,Tax & Compliance