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.
Legal,Regulation,Tax & Compliance
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.
08/12/2015
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
08/12/2015
Puerto Rico Investors Win Relief From UBS
Cases were decided by arbiters from Finra
08/11/2015
Foreign Account Tax Compliance Act
Trustee and fiduciary service providers are subject to FATCA compliance requirements
08/11/2015
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.
08/11/2015
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.