05/21/2015
Rich pickings
Davis said high-net-worth individuals could also be targeted
Legal,Regulation,Tax & Compliance
05/21/2015
Isle of Man Looks to Pull in the Crowds - Appleby
The Isle of Man Financial Supervision Commission (FSC) has issued a consultation in relation to proposals to create a specific regulatory regime to facilitate crowdfunding activity.
05/21/2015
Adviser fraudster victim in HSBC compensation fight
However, HSBC is refusing to acknowledge the fraud
05/21/2015
Cayman Islands based offshore law firm announces major expansion
The firm will also be expanding its global legal footprint to Bermuda, where it plans to open an office, becoming the first major international offshore firm to enter that market as a new entrant.
05/20/2015
Extension of Deadlines: Cayman Islands FATCA Notification and Reporting
The TIA has issued a press statement confirming these dates are in line with the TIA’s soft approach to enforcement during the first year of FATCA compliance.
05/20/2015
UBS fined $203 mn over LIBOR scandal but gets immunity on forex
The announcement comes as four other major banks are expected to fined billions of dollars for rigging the foreign exchange market in settlements with US and British regulators.
05/20/2015
Barclays fined £284,432,000 for FX manipulation
Barclays has agreed to pay a combined total of £1,533 million (sterling equivalent). In common with other financial institutions announcing FX settlements today with the DOJ, Barclays has also agreed to plead guilty to a violation of US anti-trust l
05/20/2015
The tricks used by 'coiled cobra' market-riggers
One rule-breaker said "if you ain't cheating, you ain't trying", while others used hand signals to cheat clients and fix financial markets
05/20/2015
Banks Fined Nearly £4bn Over Exchange Abuses
Five major banks are forced to pay £3.7bn after a US investigation into the manipulation of the foreign exchange market.
05/19/2015
Confidentiality concerns grow pre-global tax evasion push
Governments and tax partners need to work to ensure confidentiality is protected when new international tax transparency rules come into force in 2017, according to OECD director, Pascal Saint-Amans.
05/19/2015
Actor sues French daily over Swiss bank claim
He has filed a defamation suit against French daily Le Monde over Swissleaks reports the US actor says incorrectly stated he owned a secret Swiss account, his lawyer said Monday.
05/18/2015
Luxury Fashion Brands Accuse Alibaba of Profiting From Fakes
The owner of fashion brands Gucci and Yves Saint Laurent has accused Alibaba Group in a lawsuit of profiting from sales of counterfeit goods despite the Chinese e-commerce giant's pledge to combat the trade in fakes.
05/15/2015
UBS and five other banks face class-action lawsuits for Forex fraud
he US Department of Justice (DOJ) is investigating UBS sold forex structured products
05/15/2015
Fight against black money: Swiss get 1,500 help requests a yr
The issue assumes significance for India, as it has been probing various cases of people having allegedly stashed illicit funds in Swiss banks.
05/15/2015
More FATCA Letters, As Swiss And Other Foreign Banks Crack Down
If you are American and have a non-U.S. bank account, chances are that you’ve received a letter from your bank asking for your tax details.
05/14/2015
Morgan Stanley Fined $2 Million for Short-Selling Reporting Violations
FINRA also found that the firm's supervisory system was not reasonably designed to detect and prevent such violations.
05/14/2015
Lionel Messi Tax Evasion Trial: Favoritism Or Targeting?
Some observers think Lionel Messi is getting easy treatment from Spanish officials.
05/14/2015
Former Credit Suisse Private Bankers Barred from Banking Industry
The Federal Reserve Board is barring five former private bankers and senior managers of Credit Suisse, AG, Zurich, Switzerland from employment in the banking industry.
05/14/2015
Bank employee accused of using her job to stalk ex-boyfriend
It's hard enough in this day and age to keep your credit card information safe, but imagine if a bank employee was using your credit card to track your every move.
05/13/2015
US House of Representatives votes to repeal estate tax
On 16 April the House of Representatives voted to repeal estate tax, currently 40% with a $5.5 million exemption for individuals and an $11 million exemption for couples.