Managers of Wealth

Standard Chartered US claims puts auditors back in dock

Auditor Deloitte has rejected claims it helped Standard Chartered hide $250bn (£161bn) of illegal Iranian transactions in the latest scandal to embroil the industry.

Amanda Allen bounced cheque case could affect UAE expats

Case involving a bounced cheque in Abu Dhabi could cause problems for Britons looking to buy property in the UAE.

Standard Chartered rejects Iranian 'scheming' claims: statement in full

Standard Chartered has firmly rejected claims that it “schemed” with Iran to conduct secret transactions worth $250bn (£160bn). Here is its statement in full.

Swiss seek U.S. tax deal by year-end, but not at any price

It also wants a deal to shield the remainder of its 300 or so banks from U.S. prosecution.

US Makes New Request to Swiss for Information on Alleged Tax Cheats

A spokesman for the Swiss Federal Tax Administration confirmed that a request for administrative assistance had been made by the fiscal authorities in the U.S. last month.

FATCA creates strategic dilemma for wealth managers

The inter-governmental rules were made in conjunction with France, Germany, Italy, Spain and the UK, which have all made reciprocal agreements with the US.

Fraud Office to be paid 'by results' for Libor probe

The SFO will have to make regular reports to the Treasury on its progress and on likely future cash needs.

US probe into bank manipulation of silver markets set to be dropped

US regulators have dropped a four-year investigation into manipulation of the silver market, according to reports. The decision, if true, will take pressure off JP Morgan and HSBC who were the main focus of legal complaint that sparked the regulatory pro

RBS facing US money laundering investigation

The part-nationalised lender made the disclosure in its half year results on Friday, where it reported a loss of £1.5bn in the first six months of 2012 and set aside £125m to cover costs related to the recent IT problems.

Scandal Erupts at Standard Chartered

It labelled UK-based Standard Chartered a "rogue institution".

FSA investigates Barclays finance chief over fees in financial crisis fundraisings

The news was revealed in its first-half results in which it apologised for the Libor rate rigging scandal and posted better-than-expected underlying half-year profits of £4.2bn.

Former UBS Strategist Says He Was Pressured to Mislead

Trevor Murray was employed by UBS Securities LLC from May 2007 until he was fired in September 2009, and then returned to the company in May 2011, he said in a lawsuit filed today in federal court in Manhattan.

Rowan Dartington fraud case referred to crown court

The alleged offence involved six transactions totalling £146,000 over a three month period, the court heard.

UK ministers eye nationalising Royal Bank of Scotland-FT

Ministers are discussing a potential full nationalisation of RBS, which is already 82 percent owned by the government, to help boost business lending to companies.

Wealthy Foreigners Lured by U.S. Based Private "Edge" Banks

Banco Santander operates an “Edge Act” bank based in Miami that provides private banking services exclusively to wealthy foreigners, primarily Latinos.

Public consultation on Solvency II reporting leads to QRT structure changes

This is an integral part of the ongoing maintenance and consulting support that we provide to our ABACUS/Solvency II clients.”

Bankers found to have rigged Libor rate could face jail

Mr Green did not specify the precise charges that could be brought but it is possible bankers found guilty of manipulation could receive prison sentences of up to 10 years.

France Introduces Financial Transaction Tax

Anyone buying shares in some of France's biggest companies will now pay a controversial new tax on the transaction.

Ex-UBS bankers cheated cities by rigging bond bids -U.S.

The probe has focused on rooting out schemes to fix prices and rig bids on bond transactions, and has ensnared some of the world's largest banks.

Hedge Fund Portfolio Manager Sentenced to 78 Months for Operating a Multi-Million-Dollar Ponzi Scheme

A hedge fund manager has been sentenced in Brooklyn federal court to serve 78 months in prison for running a Ponzi scheme.

Legal,Regulation,Tax & Compliance