02/06/2014
BBH slapped with record $8 million AML-fail fine by Finra
BBH executed these transactions despite the fact that it was unable to obtain information essential to verify that the stocks were free trading.
Legal,Regulation,Tax & Compliance
02/05/2014
FCA guidance on inducements for product providers and advisory firms - FCA
The guidance is relevant to all providers of retail investment products to be sold by advisers, as well as advisory firms providing personal recommendations for such products and payments made by providers to unregulated third party firms that are for the
02/04/2014
Norton Rose Fulbright launches global regulation and investigations practice
We identified global regulation and investigations as an area that is one of the greatest for clients in terms of concern, focus and spend
02/04/2014
IBM Uses Dutch Tax Haven to Boost Profits as Sales Slide
Attracted by the Netherlands’ policies and extensive network of tax treaties, IBM joins companies such as Yahoo! Inc., Google Inc. and Cisco Systems Inc. that have used Dutch subsidiaries to cut taxes.
02/04/2014
Senior Management Increasing Efforts Globally To Combat Money Laundering
Attention being paid by senior management to money laundering challenges is at an all time high according to findings from a new KPMG International report.
02/04/2014
LinkedIn fraudsters claiming to be from Aberdeen Asset Management
Aberdeen Asset Management is warning people to look out for emails from fraudsters purporting to be from the company
02/03/2014
Bath and the South West law firm expands private client team
In addition to a number of key hires in 2013, the team was further strengthened last month by the acquisition of Wheatley-based law firm, Whetter Duckworth Fowler which has an excellent reputation for its private client and property work.
02/03/2014
Hedge funds seek 1.8 billion damages from members of Porsche's owning family
The most recent lawsuit forms part of a legal campaign being waged by hedge funds in various courts across the world, seeking to recoup money which was lost by betting on a decline of Volkswagen's share price in 2008.
02/03/2014
Private equity snaps up admin arm of leading offshore law firm
The deal for the law firm’s services arm, which has 10 offices across the Cayman Islands, London, Jersey, the British Virgin Islands and Guernsey, is thought to have an enterprise value of around £180m.
02/03/2014
BNP Paribas launches depositary banking business in Switzerlan​d
This launch allows BNP Paribas’ asset manager and asset owner clients with funds domiciled in Switzerland to benefit from the banks’ established, pan-European expertise in depositary services such as cash monitoring, oversight and safekeeping
01/31/2014
Ex-UCCI president faces extradition to the Cayman Islands
He is the former president of the University College of the Cayman Islands who suddenly left the territory in 2008 claiming to be suffering from a severe illness.
01/31/2014
State Street fined £23m for 'can of worms'
TM is a service provided to clients to support structural changes to asset portfolios with the intention of managing risk and increasing returns. TM services may be required when a client needs a large portfolio of securities to be restructured, or when
01/30/2014
HMRC EBT Settlement Opportunity still available - Withers
In 2011 HMRC launched the EBT Settlement Opportunity (the ‘Settlement Opportunity’) which offers employers the opportunity to settle such tax liabilities, thereby avoiding the risk of a time consuming and costly HMRC enquiry and potentially al
01/30/2014
Leading private client lawyer to join Mourant Ozannes
Jim Edmondson will join Mourant Ozannes' award-winning International Trusts & Private Client practice as a consultant based in London
01/30/2014
Secret Swiss Stashes at Risk as Italy’s Saccomanni Visits Bern
Solving the dispute over undeclared Italian funds with Swiss banks will be on the agenda today as Switzerland’s Eveline Widmer-Schlumpf and Italy’s Fabrizio Saccomanni meet in Bern.
01/30/2014
Deloitte leapfrogs PwC to become top accountant: global survey
Deloitte has pipped rival PwC to become the world's top accountant by revenue in the face of rising pressure on fees and new rules boosting competition, a global survey showed.
01/30/2014
Swiss banker in French tax probe returns home
The head of Swiss private bank Reyl & Cie is back at work in Geneva
01/30/2014
Guernsey signs two more DTAs
Guernsey has completed two further bilateral Double Taxation Arrangements (DTAs).
01/30/2014
Offshore scheme loses appeal over £80m unsettled tax
HMRC states certain investors that used the scheme since 2005 have settled some £20m in tax bills
01/29/2014
Jersey signs tax information exchange agreement signed with Hungary
The Agreement was signed by the Minister for External Relations, Senator Sir Philip Bailhache, and the Hungarian Ambassador, His Excellency Janos Csak.