Managers of Wealth

US tax case deal to trigger Swiss bank consolidation

An expected resolution to the US tax evasion probe into Swiss banks will likely be a catalyst for consolidation in the country's private banking industry.

‘More families will be hit by IHT’ - St James’s Place Wealth Management

Advisers need to tell clients to plan early and make use of the many opportunities to help Britons mitigate inheritance tax liability, Tony Mudd has said.

Financial Conduct Authority fines Credit Suisse and Yorkshire Building Society for financial promotions failures

Firms failed to ensure financial promotions were fair and not misleading.

New deadline for Swiss Bank Disclosures - 31 July 2014

On 5th June, the United States Department of Justice (DOJ) extended some information reporting deadlines for Swiss credit institutions that have sought to participate in its tax regularisation programme to secure a non-prosecution agreement.

LVMH executive, former PM Balladur associates in court on arms-sale corruption charges

The money is supposed to have been made from “retrocommissions”

Geneva’s French Ties Fray as Banks Tell Clients to Come Clean

For more than a century, the Swiss city of Geneva has provided wealthy French families with a convenient and safe place to stash their money.

Jersey to introduce attractive new measures to its company offering

Jersey is introducing further innovations to its Companies Law, making the jurisdiction even more attractive for those who use Jersey companies for investment structuring, asset holding and a wide variety of other purposes.

UBS falls on $8 billion estimate in FX fine research report

UBS shares fell on Thursday following a research report which said the Swiss bank could have to pay $8 billion in fines and settlements relating to alleged collusion and price-manipulation in the global currency market.

Private client community divided by public disclosure plans

The initiative, first unveiled at the G8 summit last year, forms part of global efforts to crack down on tax evasion, and the UK government was vocal about stopping its citizens from using shadowy ‘shell companies’ for money laundering.

The Rise of Small Tax Havens

Despite international efforts to clamp down on offshore tax havens, small offshore havens for tax dodging and money laundering are becoming even busier.

FCA is not taking RDR seriously: Shillito

The principles of RDR are not being taken seriously enough by the FCA

French 'suspect Geneva bank in giant tax fraud'

Falciani, a former IT worker at the bank in Geneva, released data to the French government in 2009 on 130,000 wealthy clients at HSBC alleged to have evaded taxes.

Mishcon de Reya to launch independent private client business with offshore fiduciary firm

Mishcon's managing partner Kevin Gold said: 'Years of experience advising clients on their business and personal matters has helped us understand that families really are the most complex organisations in the world.

Corporate guide ranks Carey Olsen as top offshore legal adviser to LSE clients

Carey Olsen is the number-one offshore legal adviser to London Stock Market clients

ONS marriage statistics: comment from Penny Lovell, Close Brothers

Penny Lovell, Head of Private Client Services at Close Brothers Asset Management, comments on ONS marriage statistics:

Switzerland forges forward with innovative new PEPs law designed to return plundered assets

Industry officials have hailed Switzerland's attempts to speed up the process of returning assets plundered by corrupt leaders to their original states of origin as pioneering.

Offshore Bank Letters, FATCA, & IRS Penalties---Are Any Choices Left?

Failing to respond in any way is likely to mean the bank will close your account

India crackdown on rich with Swiss accounts

Within 24 hours of his May 26 inauguration, Modi created an investigative team of former judges and current regulators

Wealthy Austrians Are Demanding Their Taxes Be Raised

Austria lacks an inheritance tax, and wealth brackets are not scaled

Appleby partner joins expert panel in New York

When a fund becomes illiquid it can find that its assets cannot be sold at all

Legal,Regulation,Tax & Compliance