10/02/2013
Italy police seize 15 million euros at Merrill Lynch in fraud probe
The seizure was ordered by Verona prosecutors
Legal,Regulation,Tax & Compliance
10/01/2013
80 Investors Owe €18m to Bank After Signing with Accountant
A Group of More than 80 Investors Have Found Themselves Owing Almost €18m to Bank of Scotland After Signing over power of attorney to an accountant for an investment project.
10/01/2013
Creation of new global force in legal sector – one year on
October 1 2013 marks the first-year anniversary of Herbert Smith Freehills following last year's landmark full-equity merger, which was one of the largest ever in the legal sector.
10/01/2013
Beanie Baby Creator Pleads Guilty To Swiss Bank Tax Dodge
Warner agreed to pay a civil penalty of almost $53.6 million.
09/30/2013
UK financial watchdog taking longer to approve firms
The FCA and the Bank of England took over supervision from the Financial Services Authority
09/30/2013
US Fatca banks law delayed – again
Swiss banks have now been told they must comply with the American law by July 2014
09/30/2013
Tax evasion advice being offered by lawyers, bankers: CBC News
Experts said one plan was virtually 'untraceable'
09/29/2013
Red Flags Rules Simplified - Pershing
Certain SEC-regulated entities are required to establish programs that detect and respond to red flags of identity theft.
09/29/2013
Julius Baer to fight $100m lawsuit in Singapore
The plaintiffs’ claim amounting to about SGD 94 million and HKD 186 million
09/29/2013
Britain’s EU bonus challenge offers little hope for bankers
This follows its legal challenges to EU plans for a tax on financial transactions
09/29/2013
Lawyer warns advisers should offer low cost alternative with recommendation
Advisers should ensure they discuss a lower risk alternative investment product alongside the investment strategy they ultimately recommend in order to mitigate the chance of future legal claims
09/28/2013
London Bullion Body Could Charge More or Disband Gold Rates
The London Bullion Market Association could charge its member banks more or even disband its Gold Forward Offered Rates after a string of new regulations in the financial market
09/25/2013
Chancellor files legal challenge to EU cap on bank bonuses
The challenge was filed by HM Treasury at the European Court of Justice in Strasbourg last Friday, September 20.
09/25/2013
Madoff accountant, 77, charged with aiding Ponzi scheme
A former accountant for Bernard Madoff has been indicted on charges he helped the convicted swindler defraud thousands of customers in the Ponzi scheme masterminded by Madoff, nearly five years after the fraud was uncovered.
09/24/2013
Tax avoidance “not legal duty”, according to law firm
There is no duty for companies to mitigate tax bills for shareholders’ benefit, says law firm Farrer & Co, reports Calum Fuller
09/24/2013
Clifford Chance takes top gong at The Lawyer Management Awards
Global head of business transformation Oliver Campbell and his team were rewarded for radically improving efficiencies of legal services delivery.
09/22/2013
Draft Commission Regulations for Money Market Funds - Withers
Click below for full document
09/22/2013
FATCA update for fiduciaries - Withers
Trusts covered by an applicable IGA will be subject to home country implementing legislation.
09/22/2013
Osborne’s Swiss tax raid revealed as £2bn flop
British residents with Swiss assets were hit with a one-off levy of between 21% and 41% in May, while a further withholding tax on future gains and income of up to 43% will be applied annually.
09/22/2013
FCA to up Absolute Return disclosure demands
They must also emphasise there are no guarantees a positive return will be achieved over any time period.