Managers of Wealth

Three more Swiss Banks Reach Resolutions under Justice Department's Swiss Bank Program

Banks Will Collectively Pay Penalties of More than $8.4 Million and Continue to Cooperate with Department

Andy Warhol and Damien Hirst dealers investigated as buyers left with nothing

Police launch inquiry after couple sell gallery and move to France – as collectors and artists chase £500,000

€25m Picasso and superyacht collide with Spanish export ban

Customs officials are tipped off about alleged attempt to take painting belonging to member of banking dynasty to Switzerland

Regulator delays decision on whether big funds systemically important

Global work by regulators on whether big asset managers should face tougher rules because of their size has been put on hold to focus on their ability to cope in volatile markets, a task force set up for the Group of 20 leading economies said.

Judge deals hedgie setback in $100M suit against neighbor

New York hedge fund tycoon Louis Bacon must have been on island time.

The Global Forum releases new compliance ratings on tax transparency

The Global Forum on Transparency and Exchange of Information for Tax Purposes published new peer review reports today for 12 countries or jurisdictions, moving further ahead with its goal to implement global standards on transparency and exchange of infor

Cooperating with Indian authorities on Swiss a/c probe: HSBC

Facing a probe by Indian authorities into accounts held by Indians in Switzerland, global banking giant HSBC on Monday said it is cooperating with the authorities.

A Staggering $12Tn In Assets Has Been Lost To Global Offshore Industry

The definition of victory for this paper is to review and improve upon existing estimates of the size, growth and distribution of untaxed private wealth protected and serviced by the global offshore industry.

UBS Donations To Clinton Foundation Upped After 2009 Swiss Deal

It might just be coincidental timing, but it sure looks bad.

NewsAlert: Tackling tax evasion - new measures - July 2015

HMRC has published four consultations – all issued under their ‘offshore evasion strategy’, seeking views on new criminal offences, civil penalties and sanctions aimed at offshore tax evasion.

Extension of the AIFMD Passport

The European Securities and Markets Authority delivered their advice to the Commission, Parliament and Council of the EU on the extension of Alternative Investment Fund Managers Directive passports to non-EU jurisdictions.

CSIRO chief silent on tax haven

CSIRO chief executive Larry Marshall has refused to reveal the beneficiaries behind a Channel Islands trust he filled with technology company shares worth up to $7 million when they were sold in a series of off-market trades.

Why do off-shore tax havens still exist?

Described by the former British cabinet minister Vince Cable as "sunny places for shady people", tax havens are much maligned.

Goldman Sachs Fined $1.8 Million for Reporting Violations

It is critical that firms have the necessary systems and supervision in place to ensure compliance with their OATS and trade reporting obligations

Taxation of trusts revisited by ENS Africa

The Davis Tax Committee's First Interim Report on Estate Duty was released for public comment on 13 July 2015.

Leonardo Braune: Brazil’s tax reforms risk alienating HNWIs

But by bringing Brazil’s taxes in line with jurisdictions like the US and UK, the country is risking its competitive edge.

Prime Minister vows to stem flow of ‘dirty money’ into London’s luxury property market

Saadi Gaddafi will have trouble buying another £10m luxury mansion in Hampstead through a faceless British Virgin Island shell company if reforms announced today by UK Prime Minister David Cameron have their desired effect.

Daughter’s £164k will victory ‘consistent with law’, say experts

The appeal court granted Heather Ilott a third of her mother’s estate on the grounds that IIott had not been given ‘reasonable financial provision’ in the will.

Liechtenstein Disclosure Facility To Close In December

The UK and Liechtenstein have published a Joint Declaration that provides for the early closure of the Liechtenstein Disclosure Facility.

Foreign criminals use London housing market to launder billions of pounds

Corporations, usually based in offshore tax havens, are sometimes used by buyers keen to hide ownership of assets, says National Crime Agency spokesman

Legal,Regulation,Tax & Compliance