11/28/2014
Argentina IDs accounts in alleged tax evasion
The agency's revelation came a day after it charged HSBC bank with helping Argentines evade taxes by stashing about $3 billion in the secret accounts.
Legal,Regulation,Tax & Compliance
11/27/2014
Barclays says its Swiss private bank drops out of U.S. tax deal
Barclays' private bank in Switzerland has dropped out of a U.S. programme aimed at cracking down on wealthy Americans evading taxes through hidden offshore accounts, the British bank's market head for Switzerland said on Thursday.
11/27/2014
Argentina charges HSBC with aiding tax evasion via Swiss accounts
Argentina's move comes as part of a global crackdown on undeclared funds held in offshore havens, after the global financial crisis strained government budgets and made the need to maximize tax receipts more pressing.
11/26/2014
OECD releases 2013 mutual agreement procedure statistics
As part of the OECD’s work to improve the timeliness of processing and completing mutual agreement procedure (MAP) cases under tax treaties and to enhance the transparency of the MAP process, the OECD makes available to the public, via its website,
11/26/2014
Nina Ricci perfume heir charged with tax fraud
The heir to the Nina Ricci perfume fortune is to go on trial for tax fraud in what is seen as a test case related to the HSBC tax avoidance scandal.
11/26/2014
S.E.C. Settles Swiss Secrecy Case With HSBC
The unit failed to register with the S.E.C. before providing advice to American clients, an omission that allowed it to avoid scrutiny in Washington.
11/25/2014
Private Capital team scoops another award
"This award is a testament to our team, its international strength and the quality of work it does. It tops off what has been a great start to the new merged firm."
11/25/2014
FCA gives wealth managers all clear on in-house product use
The regulator has given wealth managers the all-clear when it comes to putting their clients’ money into in-house investment products
11/25/2014
Collas Crill announce Cayman merger
The merger creates the first and currently only law firm with offices in Singapore, the Cayman Islands, London and each of the Channel Islands.
11/25/2014
New trust and tax reporting obligations for UK Resident Non Doms – a Mini UK FATCA? by Withers
Under new rules, information about offshore bank accounts and non-UK structures with UK resident owners (in the case of personally held accounts) or UK resident settlors, beneficiaries and protectors (in the case of trust structures) will be provided auto
11/23/2014
Bank executives want City wrongdoers to face jail, says top funds boss
The latest of those is the foreign exchange scandal, which saw six banks fined $4.3 billion by U.S. and UK regulators last week for failing to put in place systems and controls to prevent traders from attempting to rig benchmark exchange rates.
11/23/2014
International tax avoidance – now the investment community takes action by George Bull, Baker Tilly
We recently reported on a growing number of investors becoming uncomfortable over the tax affairs of some multi-national corporations. Now it appears that following the agreement by the G20 leaders to accept OECD recommendations to tackle tax avoidance an
11/23/2014
Managing Operational Risk Under AIFMD by Tom Kirkpatrick and Colin Keane, SS&C
In a recent interview with Hedgeweek, Tom Kirkpatrick and Colin Keane discussed managing operational risk.
11/21/2014
Swiss Vote to Abolish Tax Break for Rich Threatens Status
The disinterest of diners entering Cafe du Centre on the adjacent Place du Molard is echoed in the latest poll
11/21/2014
Marrache liquidators sue Baker Tilly for £28m in bid to recoup lost client funds
The liquidators of Gibraltar firm Marrache & Co are suing the local branch of accountancy firm Baker Tilly for negligence, breach of duty, conspiracy and dishonest assistance for audit advice given prior to Marrache’s collapse in 2010.
11/21/2014
Cyprus Agrees Double Tax Pact With Iceland
Cyprus and Iceland have released the text of a new double tax agreement signed between the two nations on November 14, 2014.
11/20/2014
Switzerland takes important step to boost international cooperation against tax evasion
The Swiss decision is subject to Parliamentary approval, as well as the possibility that voters may be asked to approve the necessary laws and agreements.
11/20/2014
Rich foreigner tax perks tipped to stay
Observers believe that the sea change in voting intentions has been influenced by more vocal arguments from the “no” campaign
11/20/2014
Swiss banks asked to hand over more data in U.S. tax case
The U.S. Department of Justice has requested more information from around 40 Swiss banks taking part in a program to make amends for possibly aiding tax evasion by wealthy Americans
11/19/2014
FATCA: Cost-Overruns Come with the Territory
That is, if they haven’t faced the music already.