Managers of Wealth

Western banks 'reaping billions from Colombian cocaine trade'

While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits, a study claims

Prosecutor in Swiss bank cases resigns

Kevin Downing, 46, who has led agency criminal probes of the Swiss banking industry, and earlier of banks and accounting firms, is leaving to join a law firm, the source said.

Ex-UBS Client pleads guilty in Offshore Tax case

He agreed to pay a civil FBAR penalty of $5.75 million as well as taxes due of $312,803.

Wealthy clients turned tables on UBS and staff?

Ex-UBS employees, including former Managing Director Sachin Karpe, are accused of unauthorised transactions on 39 client accounts, of which 21 reported substantial losses.

Commerzbank appeal on bonus case refused

The High Court judge ruled earlier this month ruled in favour of the of the 104 former Dresdner Kleinwort bankers who sought a legal battle with Commerzbank over unpaid guaranteed bonuses that had been promised to them shortly before the investment bank w

FSA fines Scottish wealth manager £60k for Ucis mis-selling ‎

He advised 57 of his customers to invest in UCIS, 14 of whom also invested in other non-mainstream investments.

Swiss May Set Capital Controls If Euro Collapses

Jordan said the SNB will continue to defend this level with utmost determination, even under very difficult circumstances.

France Mulls Wealth Tax Reforms

Despite François Hollande’s pledge to carry out a sweeping reform of wealth tax in France in 2012, to return to the old wealth tax scale, in force prior to the 2011 reform, no modifications will reportedly be made to the existing tax rates th

Standard Chartered banker freed from detention in China

A StanChart spokeswoman said Ms Wu Yidian Eden, a naturalised Singapore citizen, has been released from custody. The bank is not being investigated and Ms Wu remains an employee.

Tax could cost UBS up to 10 percent of Europe assets

Zeltner said UBS had assets under management of over 300 billion francs in Europe, over 170 billion francs in Asia, around 110 billion francs in emerging markets and 130 billion in Switzerland.

Ireland’s oldest stockbrokers ordered to cease trading

The Central Bank alerted the firm last Thursday evening and has since ordered it to stop all regulated activities.

Grant Thornton's role in Tchenguiz case questioned

The Financial Times reported that the SFO had relied heavily upon Grant Thornton for information it used to build its case against Vincent Tchengui and his brother Robert, while the accounting firm was acting as administrator for Kaupthing.

Ogier acts for Cantor Fitzgerald

ISF Ltd will add value for Cantor Fitzgerald's global bank relationships while providing an attractive investment for their fixed income clients.

India mulls one-time amnesty for tax evaders

In a plan submitted to the Indian Parliament Monday, the government also said it was considering allowing undeclared gold to be deposited with banks.

Credit Suisse’s Spencer: RDR will give UK a competitive edge

The UK’s financial services industry will have an advantage over the rest of the EU following the implementation of the retail distribution review (RDR), says Credit Suisse’s Matthew Spencer.

Spain Court Closes Botin Family Tax Case Without Charges

Spain's National Court said Tuesday it has shelved an investigation into potential tax evasion against Banco Santander SA (STD) Chairman Emilio Botin and his family without pressing any charges.

SEC Charges Former Napfa Chairman With Defrauding Clients

Spangler served as chairman and CEO of one of the companies, which is now bankrupt. Spangler's risky investments were inconsistent with the investment strategies that he promised his clients and contrary to their investment objectives, the SEC says.

Analysis: HSBC victory in UK case a relief to money-laundering monitors

Wednesday's High Court judgment is also a relief to financial firm professionals who feared the impact of a Shah victory on their processes for suspicious activity reporting.

JPMorgan's Dimon says will testify before Congress

U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday that his panel will invite Dimon to appear before Congress.

Asia's Lighter Taxes Provide a Lure

Even if U.S. tax rates increase slightly, they would remain historically low.

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