Managers of Wealth

Deutsche Bank fined £4.7m for failing to properly report transactions

The failure, which affected all Deutsche’s Equity Swap CFD transaction reports in this period, breaches FCA rules on transaction reporting.

Judge Wants More Facts On UBS Exec's Foreign Witnesses

The court denied Weil’s motion to obtain live video testimony

CFTC Orders Merrill Lynch to Pay $1.2 Million Fine for Supervision Failures

Firm’s Supervisory Failures over Fee Processing Led to Client Overcharges at Times

Argentina revokes charter for Bank of New York Mellon

Argentina’s banking regulator has revoked the charter for Bank of New York Mellon to operate in the country.

Making the domicile decision: key factors to consider when selecting an MSR - KPMG

In this edition of AIFMD Insider News, we examine the key factors managers will need to consider when selecting a Member State of Reference (MSR) in Europe.

New Zealand Police seize assets of Chinese-born millionaire in money-laundering probe

Yan, who has a reputation for spending millions in the city's biggest casino, was seen meeting a defense lawyer Simon Lance after the raid

Microsoft The Latest In Offshore tax Evasion Club

The technology giant is facing scrutiny amid findings that it is housing nearly $92 billion offshore in an effort to avoid as much as $29 billion in US taxes.

Germany sues Switzerland's largest private bank for £100m over lost East German assets

The German federal department responsible for chasing lost East German assets has filed a complaint in a Zurich court against Julius Baer.

UK recovers $498,000 from sale of criminal's Dubai home

A confiscation order was initially put in place in September 2012 for £417,031.52 and has now been fully satisfied following the sale of the apartment.

Facing More Regulation, but Falling Short on Compliance

Firms in the financial services industry are known for being subject to a growing number of regulations.

Private bank loses 200m case in DIFC

No figure for compensation was set but the family has been claiming over $26.5 million.

Julius Bär sued for missing German millions

Switzerland’s largest private bank, Julius Bär, has been hit by a German demand to pay back €135 million in assets that went missing during the reunification of East and West Germany.

HMRC removes some advantages of voluntary disclosure - Withers

The original purpose of the LDF when it was launched back in 2009 was to allow individuals with assets in Liechtenstein and undisclosed tax liabilities to settle those liabilities with HMRC on exceptionally advantageous terms.

Standard Chartered fined $300 million over laundering controls

If a bank fails to live up to its commitments, there should be consequences

Osborne goes after offshore evaders

Some £1.5bn has been recovered from offshore tax evaders over the past two years.

Forget About Hiding Money Offshore!

The planning issue for anyone with an offshore undeclared account is framed in the context of penalty avoidance or mitigation

Ogier Corporate Services shortlisted for prestigious awards

Ogier Corporate Services has been shortlisted for two awards at the prestigious ICSA Jersey Awards 2014.

Securities law firm files FINRA Arbitration Claim Against Deutsche Bank Securities

The Glanmore fund invested in United Kingdom real estate and was managed by Tilney, an investment management firm owned by Deutsche Bank. Deutsche Bank recommended and sold the Glanmore fund to wealthy investors in Mexico, Central America, and South Ameri

Goldman To Face Libya's Sovereign Wealth Fund In Court Over Trades

Goldman had filed a summary judgment application – a request to decide a claim without going to trial

FATCA Intergovernmental Agreement Update

This will allow such not-for-profit entities to be treated the same way under UK FATCA as they are presently under US FATCA and US-Bermuda IGA Annex I VI B 4 j.

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