08/19/2015
Germany's HSH Nordbank agrees 22-mln-euro fine in tax probe
News of the settlement was first reported by newspaper Sueddeutsche Zeitung and broadcasting networks NDR and WDR earlier on Tuesday.
Legal,Regulation,Tax & Compliance
08/19/2015
Tax expert warns Liechtenstein replacement will be tougher
Since its inception in September 2009, more than 6,500 people have registered to participate in the Liechtenstein Disclosure Facility. More than 5,900 disclosures have been received by HM Revenue and Customs, with over £1.6bn raised so far.
08/19/2015
Goldman Sachs's unit obtains Hong Kong banking license
A wholly-owned unit of Goldman Sachs Group received a banking license from The Hong Kong Monetary Authority (HKMA), the HKMA announced on Wednesday, in a step that creates a local subsidiary through which the U.S investment bank can book its trades.
08/19/2015
Switzerland's FINMA looking into possible Swiss connection to 1MDB
The fund has been dogged by controversy over its $11 billion debt and alleged financial mismanagement.
08/18/2015
Former forex traders challenge Citi over dismissal
The authorities found that Citi and other banks attempted over a period of almost six years to have rigged key foreign exchange benchmarks, including at least one provided by central banks.
08/18/2015
Bend Me Shape Me...Restructuring And reshaping trusts in bermuda by Ashley Fife
Senior Associate Ashley Fife examines options for restructuring and reshaping Trusts in Bermuda to enable trustees to adapt to unforeseen circumstances.
08/18/2015
Citigroup Affiliates to Pay $180 Million to Settle Hedge Fund Fraud Charges
CGMI and CAI failed to control the misrepresentations made to investors as their employees misleadingly minimized the significant risk of loss
08/17/2015
Israeli Bank Leumi Execs Warned Over US Money Laundering – Report
The affair concerns criticism following the investigation of the US authorities of criminal events that took place in Bank Leumi’s US branch between the years 2002 and 2010 – when the three executives were serving the bank.
08/17/2015
Maltese authorities silent on local involvement in biggest-ever cyber fraud case
The Maltese company and others involved in the ring then allegedly used that stolen information to trade securities and reap over US$100 million in unlawful profits.
08/14/2015
Cayman Islands Implementing OECD Common Reporting Standard by October 2015
The CRS represents a significant step towards the global automatic exchange of information ("AEOI") for tax purposes and there are currently more than 90 countries that have committed to its implementation.
08/14/2015
HSBC tax whistleblower to stand trial in Switzerland in October
HSBC Private Bank helped wealthy clients evade millions of dollars in taxes, according to a media investigation of the data trove.
08/14/2015
OECD publishes guidance on international standard for automatic exchange of tax information
The new 'Implementation Handbook' is designed to assist countries with their implementation of the CRS.
08/14/2015
Top FPIs raise concerns with Sebi over Mauritius Treaty, GAAR and participatory notes
Overseas investors coming through Mauritius and trading on Indian stock exchanges are spared of the 15% tax on shortterm capital gains.
08/13/2015
Switzerland, Belize Sign TIEA
The agreement must now be approved by the Swiss parliament and may be subjected to a referendum before it can enter into force.
08/13/2015
Gibraltar FSC signs MOU with Israel
The MoU indicates our joint endeavours to work closely together to support our work to protect the public
08/13/2015
SS&C Announces Favorable Arbitration Decision in Millennium Actions
The Millennium Action was a GlobeOp legacy dispute that first arose prior to SS&C's acquisition of GlobeOp in June 2012.
08/13/2015
Forgeries, Feng Shui and Philanthropy
Nina Wang's bonkers estate
08/12/2015
Tax dodgers must come clean
The South African Institute of Professional Accountants is urging local tax dodgers to come clean in the wake of the HSBC scandal.
08/12/2015
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
08/12/2015
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.