Managers of Wealth

China to detail rules for launch of foreign hedge fund products

The move will help diversify the pool of investors, bring in new asset management talent and deepen deregulation of the capital markets, CSRC said.

SFC publicly censures two units of Bank of America Merrill Lynch Group for breaches of Takeovers Code

In deciding the sanction, the SFC took into account BofAML Group’s full cooperation and the remedial measures it has now put in place to ensure future compliance with the Takeovers Code.

Hong Kong and Singapore: Awaiting a New DOJ Tax Program for Asian Banks?

As offshore tax enforcement remains a top priority for the Department of Justice, the DOJ Tax Division and the IRS are actively reviewing account information obtained from Category 2 banks

French prosecution seeks tax fraud trial against Swiss bank UBS

The prosecution requested that UBS face trial for "aggravated laundering of tax fraud proceeds" while its French branch be judged for complicity in these crimes.

Brexit and Immigration: do high net worth individuals and senior executives need to take prompt action?

Now that the immediate consequences of the referendum and Brexit have become a little clearer, we turn to consider the implications for HNWIs and senior executives.

New steps to strengthen transparency in international tax matters

A key pillar of the project focused on ensuring transparency while promoting increased certainty and predictability.

Swiss central bank accelerates intervention

Foreign exchange markets opened amidst great volatility on Friday as it emerged that Britain had voted to leave the European Union.

London – the New Haven for Dirty Money?

Switzerland as a haven for dirty money has long been a cherished picture painted by commentators in the Anglo-saxon world. With Brexit a reality, the cliché may soon apply to London more than anywhere else.

BSI appeals against Swiss regulator ruling

All client relationships related to 1MDB have been fully closed in early 2015.

Former Texas billionaire ordered to pay $1.1 billion for ‘fraudulent’ tax scheme

The payout includes roughly $135.5 million of taxes, $402.1 million of interest, and $570.1 million of penalties.

Stars may finally align against buyout-baron taxes

The industry has fought the good fight.

The real threat to Britain’s borders is the flow of dirty money

However, British crown dependencies and offshore tax havens were ranked separately.

Duo with Irish links at centre of $16bn 'Ponzi scheme' probe

Regulator in Mauritius sought help from Central Bank in its investigation into offshore hedge fund

Facing up to the regulatory reality of transparency

Control in this case, he says, doesn’t mean hiding information.

IRS Says "You Owe Us Money – Bye-Bye US Passport!"

Americans living abroad could have their passports revoked simply by being on an IRS list for owing taxes.

Billionaire Bacon Loses Appeal in Bahamas Backyard Battle

A New York appeals court Thursday ruled against Bacon

What Happens to UK Taxes after the Referendum?

Early indications are that there will not be an 'Emergency Budget' so soon after the referendum.

UBS Gives IRS Records on U.S. Citizen’s Account in Singapore

The IRS said it needed the records to determine Hsiaw’s income tax liabilities from 2006 to 2011.

Merrill Lynch Paying $10 Million Penalty for Misleading Investors

The notes were issued by Merrill Lynch’s parent company Bank of America Corporation, and Merrill Lynch had principal responsibility for drafting and reviewing the retail pricing supplements.

Merrill Lynch fined $415m for misusing client money

Had Merrill Lynch collapsed at any point, customers would have been exposed to significant risk and uncertainty of getting back their own securities.

Legal,Regulation,Tax & Compliance