Managers of Wealth

UK Budget 2016 - Swiss highlights by Withers

The run-up to the UK Budget was dominated by rumours of major changes to the taxation of pensions which did not materialise.

Global watchdog flags slow 'too big to fail' bank rule adoption

The FSB, which is chaired by Bank of England Governor Mark Carney, is tasked with coordinating financial regulation for the Group of 20 economies (G20).

UBS Says European Court to Hear Challenge in French Tax Case

France ordered the bank in July 2014 to post a bond of 1.1 billion euros in connection with the probe. UBS disputed the legal basis for the bail and the method of calculation.

Coutts case could set legal precedent on redundancy

The matter has been adjourned, with no date yet set for its continuation. It is a case lawyers on both sides describe as a matter of law and legal interpretation and also is one that potentially could set legal precedent in the Cayman Islands, specificall

FAMR responses reveal who called for biggest reforms

The respondents range from small IFA firms to large providers and asset managers.

ANZ wealth breaches slammed

While the majority of these compliance breaches are in the past, we know we can do better

Africa tax in brief by Celia Becker, ENS Africa

The introduction of a Special Contribution on Banking Operations

Proposed expansion of “permanent establishment” definition by Annalie Pinch and Nicolette Smit, ENS Africa

During October 2015, as part of the Organisation for Economic Co-operation and Development (“OECD”)/G20 Base Erosion and Profit Shifting (“BEPS”) Project, the OECD issued its final report in respect of Action 7 “Preventing th

Final opportunity to regularise your unauthorised foreign assets by Mmangaliso Nzimande and Jerome Brink, ENS Africa

Automatic exchange of information between tax authorities

Former equities trader at Schroders pleads guilty to insider dealing

A former equities trader at Schroders Investment Management Limited, pleaded guilty at Southwark Crown Court to nine counts of insider trading. He will be sentenced on 13 June 2016.

The problem with promises to crack down on tax-dodging banks

The system gives room for avoidance but taxpayers at least know what to expect, writes Clemens Fuest

Slaughter and May is advising Oddo & Cie - disposal of Kleinwort Benson wealth management business

Subject to regulatory approvals, Kleinwort Benson will be combined with Société Générale Private Banking Hambros to create one of the leading private banks in the UK.

Credit Suisse Accused of Money Laundering in Wealth-Manager Case

The complaint is based on hearings, a review of the evidence as well as information received from MROS, Switzerland’s Money-Laundering Reporting Office, the lawyers wrote.

Wealth managers warn MiFID II reporting demands will raise costs

Panic selling also a risk

Guide to Private Trust Companies (PTC) Structures in Guernsey - Appleby

This Guide is a summary of the law and procedures relating to private trust company (PTC) structures in Guernsey.

New Global Forum peer reviews highlight ever-increasing compliance with tax transparency standards

The world’s leading forum on tax transparency published 10 new peer review reports today, pointing to ever-increasing compliance with the internationally-recognised standards to curb tax evasion through the exchange of information.

South Korea fines HSBC and Deutsche $50,000 for FX swap collusion

The watchdog fined HSBC 46 million won and Deutsche 13 million won. HSBC's Seoul branch said it has cooperated fully with the Fair Trade Commission. Deutsche declined to comment.

HSBC freezes at least $87m in accounts linked to China’s Sam Pa Tom Burgis

In a 2014 Financial Times investigation, people who have had dealings with Mr Pa — who goes by at least seven different names — claimed that he also had close ties to the Chinese intelligence services.

Goldsmith slammed for targeting London's Hindus with 'scaremongering' jewellery tax leaflet

The Tory mayoral candidate sent out a letter to London's Tamil community claiming his Labour rival wanted to tax their family jewels

Multinationals and tax authorities appear before tax rulings committee

Also tax-related state aid verdicts and investigations by the Commission are likely to be discussed.

Legal,Regulation,Tax & Compliance