Managers of Wealth

UBS Faces MAS Scrutiny for 1MDB

MAS is expected to ask a number of banks, among them UBS, for further information about their dealings with the fund, these people said.

HSBC avoided criminal charges over fears of ‘systemic risk’

The bank identified about 2,200 of its 35,000 Cayman Islands U.S. dollar accounts as high risk because of either suspicious activity or due to a lack of information about the account owners.

How could Brexit affect employee assignments abroad?

Following the EU referendum, there is considerable uncertainty surrounding how Brexit will impact employers and employees in the globally mobile workspace. Whilst nothing is certain, there are a number of tax issues to consider for UK employers who are ei

FCA fines Towergate and former director Timothy Philip for client and insurer money failings

The FCA found that Mr Philip failed to meet the minimum regulatory standards in terms of competence and capability

Tax transparency webinar | 27 July 2016

Criminal and civil sanctions for enablers of tax evasion

Phones4u founder set for showdown with former business partner

The former chief executive, who was paid a £300,000 bonus annually by Signia on top of her salary, claims in the same document that Mr Caudwell asked her to take a polygraph test and offered to escort her to sessions for psychiatric help.

OECD releases standardised IT-format for providing feedback on received Common Reporting Standard information

The CRS Status Message XML Schema allows Competent Authorities that have received CRS information through the CRS XML Schema to report back to the sending Competent Authority, whether the file received contained any of the file and/or record errors.

Mifid II, Solvency II most concerning for asset managers

With a raft of existing and upcoming regulation to address, many asset managers said that they are looking for ways to minimise the reporting burden associated with both pieces of regulation, with some looking to reuse reporting and regulatory data.

UBS accuses cabinet of intransparent policy

This will pave the way for a new offensive against Swiss banks,” he is quoted as saying.

The SEC's case against Dawn J. Bennett

The adviser boycotted her enforcement hearing, but that may not stop the regulator from throwing her out of the securities industry

Meet the stoligarchs, Putin's pals who control a fifth of the Russian economy

As long as the stoligarchs are in charge of as much as a fifth of Russia’s economic activity.

Swiss Council Adopts Dispatch On 8 TIEAs

The Federal Council said that these jurisdictions fit the profile of the countries with which it wishes to introduce the automatic exchange of information.

Estranged Husband Sues Samsung Royalty For US$864 Million

He has also demanded 10 million won for mental distress.

Ex-Treasury Boss Blasted For Taking Job With Bank 'Exploiting' Offshore Finance Services

According to its website, the family-run bank which is the oldest in the UK and the fourth oldest in the world offers clients help netting “the best after-tax returns” as part of its offshore investment management wing.

Barcelona's Messi gets 21 months for tax fraud, unlikely to serve time

Spanish law is such that any sentence under two years for a non-violent crime rarely requires a defendant without previous convictions to serve jail time.

Standard Life’s 1825 imposes portfolio cap on SLI holdings

It is unclear whether such a cap is imposed across other vertically integrated firms.

New Sheriff In Town: The Monetary Authority of Singapore Creates New Anti-Money Laundering And Enforcement Departments

The changes are set to take place on 1 August 2016.

Singapore’s Banking Secrets - Not So Secret Anymore

But this focus on extra-territorial tax evasion has not been confined to Switzerland.

Swiss IP Structures Attractive To U.S. Tax Directors

Switzerland reacted to the final guidance under the Organization for Economic Cooperation and Development's project to combat base erosion and profit shifting by passing comprehensive corporate tax legislation.

UBS- Request For International Administrative Assistance In Tax Matters

The French tax authorities filed the request for international administrative assistance in tax matters with the FTA based on the Double Taxation Agreement between Switzerland and France

Legal,Regulation,Tax & Compliance