Managers of Wealth

Swiss Bankers Urge EU Deals to Root Out Tax Cheats

The country has reached withholding tax deals with Britain and Austria, under which nearly 30,000 Swiss account holders came forward last year to pay tax

UBS Closed Secret Big Accounts, Class Claims

Swiss banking giant UBS converted billions of dollars for its own profit by improperly closing accounts of secret account-holders and refusing to provide records of it, the trust of a former president of the U.N. General Assembly claims in a federal clas

British Virgin Islands suffers amid push against money laundering

“You are seeing stronger compliance and the banks themselves are being more risk-averse so they are making it harder to open accounts,” said Elise Donovan, head of the BVI office in Hong Kong responsible for Asia.

Belgium a 17b euro tax haven for France's richest entrepreneurs: report

France's wealthiest entrepreneurs hold around €17 billion (HK$168 billion) in neighbouring Belgium where taxes are lower

Indefinite ban for former St James's Place partner

As a result, the Financial Conduct Authority has concluded that Carron lacks honesty and integrity, fined him £300,000 and banned him from performing any function related to regulated activities in financial services.

OECD releases first BEPS recommendations to G20 for international approach to combat tax avoidance by multinationals

At the request of the G20 Leaders, the OECD’s work is based on a BEPS Action Plan setting out the 15 key elements to be addressed by 2015

Julius Baer contests claim over missing East German millions

The Bank is contesting the claims of BvS and has taken measures to defend its interests. In addition, the claim has been notified under representations and warranties obtained from the Seller of Bank Cantrade Ltd. as per the respective transaction agreeme

Fears over tax loophole as Scottish independence could see thousands of wealthy people start claiming 'non-domicile' status

Scottish independence could see thousands of wealthy people start to claim ‘non-domicile’ tax status, experts predict.

Mystery surrounds missing discoverer of gold-laden shipwreck

Legal disputes had dogged finder of SS Central America trove

Expats Left Frustrated as Banks Cut Services Abroad

Americans living abroad are being cut off by banks and brokerages as financial institutions seek to steer clear of a U.S. crackdown on money laundering and tax evasion.

US tax haven Delaware under pressure

That has now put Delaware, and other states that permit shell companies, in the sights of the US authorities, after they have campaigned against international tax havens like Switzerland to fight tax dodging and money laundering.

Swiss Minister’s offshore business to be re-investigated

The finance department has asked the FTA for support in the process.

What lies at the heart of FCA's in-house fund review?

At a time when the wealth management sector is grappling with suitability, the issue of how to control conflicts of interest could not be more pertinent.

MiFID II still worrying UK wealth managers

He adds that the shortening timelines for delivery create issues, as do the clash of inconsistent definitions between separate regulations.

UBS Asks French Court to Overturn $1.4 Billion Bail in Tax Probe

The bank, Switzerland’s biggest, has been embroiled in tax evasion probes in Europe since it paid $780 million in 2009

Prison sentence for Cayman investment adviser

After they agreed to assist undercover U.S. Internal Revenue Service investigators in laundering purported criminal proceeds through an offshore structure designed to conceal the true owners of the funds.

FCA in new conduct risk push for wealth management firms

Invitees will range from the largest private client firms

EU Banks Sidestepping Bonus Limits Face Regulatory Crackdown

Allowances, also known as role-based pay, are a regularly adjustable part of employees’ pay packets.

Baker Tilly warns online traders

Accountancy firm Baker Tilly has warned online traders to ensure they declare earnings after a man was convicted earlier this week

FCA Pulls List; Commits to Thorough Review of Methodology

It also has committed to a full review of the methodology that resulted in the Cayman Islands being placed on the list.

Legal,Regulation,Tax & Compliance