08/15/2012
HSBC dealings in Middle East in spotlight
But the 335-page investigative report into money laundering violations contained a trove of information about HSBC’s dealings in the Middle East, including Iran and Syria.
Legal,Regulation,Tax & Compliance
08/15/2012
Top 20 most wanted tax dodgers revealed
The amount of tax these 20 alone are said to have avoided would pay the salaries of 25,000 nurses for a year
08/15/2012
Singapore court awards Marcos millions to PNB
Marcos ruled the Philippines from 1965 to 1986, when he was overthrown by a popular revolt. He died in exile in Hawaii in 1989.
08/15/2012
Australian private banker steals from famous author
She worked for the private banking division, which offers personalised service to high net wealth customers.
08/15/2012
Portugal relaxes tax rules for expats
Foreigners in the debt-burdened European country will now find it easier to apply for a tax break.
08/14/2012
UBS Sues Billionaire Olenicoff for Filing Failed Tax Suit
Olenicoff, who built his fortune as the chief executive officer of Newport Beach, California-based Olen Properties Corp., pleaded guilty in 2007 to filing a false tax return.
08/14/2012
Linklaters and Cleary lead on Bank of America wealth management sell-off
The New York firm fielded a cross-border team led by corporate partners Paul Shim and Simon Jay, based in the New York and the London offices respectively.
08/14/2012
UBS's tax bogeyman rears ugly head again
As of January next year, Germans with Swiss bank accounts will have to pay a charge of between 21 and 41 percent of their total holdings to maintain their cloak of anonymity, as well as an ongoing yearly withholding tax.
08/13/2012
More than 400 financial industry workers punished
The total figure is double that of the same period last year, which was 222, and is already nearly 74 percent of the total count for 2011.
08/13/2012
Apologetic Swiss banks sweat it out as US, Europe mull redress
Washington, however, must factor forthcoming elections into its thinking, and Germany is delaying ratification of a tax deal key to Switzerland's efforts to strike similar agreements elsewhere in Europe.
08/13/2012
Inquiry launched into RSM Tenon
PricewaterhouseCoopers is being investigated over its audits of crisis-hit corporate finance firm RSM Tenon.
08/13/2012
Asia steps up fight against money laundering
US regulators are getting tough over money laundering activities and central banks in Asia are also monitoring developments closely.
08/13/2012
UBS: Is 'Fiscal Cliff' Another 'Y2K'?
However, UBS economist Drew Matus wonders if we're blowing fears out of proportion.
08/12/2012
UBS denies report it abets German tax evasion
The bank doesn't provide tax services to clients, UBS spokesman Dominique Gerster told Dow Jones Newswires.
08/12/2012
French Constitutional Court Says Wealth Tax Rise Must Be Interim
The country’s parliament approved the increase last month as part of a supplemental budget.
08/12/2012
Drafts of FATCA Model Intergovernmental Agreements Released
The US, UK, France, Germany, Italy, and Spain have jointly issued drafts of two versions of model agreements implementing FATCA through a process of intergovernmental information exchange (the “Model Agreements”).
08/08/2012
Cayman Islands Scraps Plan To Tax Wealthy Expats
On Monday, Cayman Islands Premier McKeeva Bush told the press that the tax plan was “off the table and will not be implemented,” claiming that alternate sources of revenues had been already identified.
08/08/2012
Swiss banks face slow death as taxman chases undeclared assets
#Western Europeans may pull as much as $139 billion, or 15 percent of their holdings, from Swiss banks, said Herbert Hensle of Cap Gemini. Bank Sarasin & Cie. AG reported last week that private clients withdrew 3 billion francs from Swiss locations in
08/08/2012
UBS staff 'offered protection from prosecution in Libor probe'
US prosecutors have offered several former junior UBS employees protection from criminal charges in exchange for their cooperation with their expanding probe into alleged Libor manipulation, according to reports.
08/08/2012
Fraud inquiry threat to Barclays over Arab bailout
Serious Fraud Office collaborating with City watchdog's investigation into controversial deal