03/21/2018
UBS ordered to pay $204,000 in Puerto Rican bond claim
Finra panel says firm was liable for breach of contract and unsuitability
Legal,Regulation,Tax & Compliance
03/21/2018
Wells Fargo Denies FBI Reviewed Wealth Unit
Questioning was conducted by company-hired lawyers, not the FBI, an exec says, but nonetheless ‘clients are commenting on this,’ says Danny Sarch.
03/21/2018
SFC reprimands and fines UBS Securities Asia Limited $4.5 million in relation to facilitation trading activities
It is also expected to maintain and keep sufficient records to explain its client facilitation business.
03/21/2018
Expats ‘considering bankruptcy’ in wake of repatriation tax
A US tax aimed at multi-nationals hoarding cash offshore is forcing clients to consider insolvency.
03/20/2018
G20 urged to adopt common regulations for cryptocurrencies
It is understood discussions on cryptocurrencies will take place across both days between finance officials from G20 members.
03/20/2018
Nigeria Corruption Reaches Swiss Banking
The two companies rejected the claims.
03/20/2018
SEC awards Merrill Lynch whistleblowers a record $83 million
$83 Million Awarded to Group That Blew the Whistle on Merrill Lynch
03/20/2018
Swiss seize bank accounts amid probe linked to Rio Tinto Mongolia mine
Corruption probe linked to a former Mongolian finance minister who helped clear the way for a disputed Rio Tinto mining project.
03/20/2018
Legal battle over $250 million yacht seized in U.S. fraud probe
"We are facing some legal issues that have to be resolved first."
03/20/2018
Hargreaves Lansdown wins 'discount tax' HMRC challenge
The tax tribunal has just ruled that loyalty bonuses aren’t taxable.
03/19/2018
UBS: Troubles in Israel
A former UBS official helped the defendants maneuver around the tax authorities, in a series of secret meetings.
03/19/2018
StanChart Fined in Singapore for Money Laundering Breaches
Two units fined a total of $4.9 million by monetary authority
03/19/2018
CSSF Warnings on ICOs, Tokens and Cryptocurrencies
Investors are also encouraged to 'very carefully consider' the white paper that should accompany any ICO.
03/18/2018
Tax Challenges Arising from Digitalisation: More than 110 countries agree to work towards a consensus-based solution
The members of the OECD/G20 Inclusive Framework on BEPS will work towards a consensus-based solution by 2020, as set out in their Interim Report on the Tax Challenges Arising from Digitalisation released today.
03/16/2018
Citigroup boss paid 369 more times than average employee at the bank last year
Corbat’s annual compensation was cut six per cent to $15.5m the previous year after the bank missed financial performance targets and one-third of its voting shareholders voted against his prior pay.
03/15/2018
´Panama Papers´ law firm shuts down operations
Last August, co-founder Jurgen Mossack acknowledged the firm had closed most of its offices abroad after its damaged credibility caused business to flounder.
03/15/2018
Credit Suisse Sued by Investor Over Volatility Note That Crashed
Chahal’s complaint seeks class-action status on behalf of other buyers.
03/15/2018
UBO Register of Trusts The EU's 5th Anti-Money Laundering Directive
This article briefly sets out the changes we can expect, particularly in respect of trusts.
03/15/2018
Trusts and Protectors - A Russian Tale
Appleby Guernsey’s Dispute Resolution and Private Client & Trusts teams review this important decision and the impact in the Channel Islands.
03/15/2018
Foreign Affiliates of KPMG, Deloitte, BDO Charged in Improper Audits
The firms agreed to settle the charges by paying penalties or disgorging their profits from the audits.