Managers of Wealth

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.

Hedge Fund Billionaire Says Clothing Mogul Plotted Murder Over Beach House

Among the claims—physical attacks, firebombing cars, home and office break-ins, vandalism, and paying people to throw anti-Bacon rallies that claimed he was a racist, a murderer, and stock crook.

Cayman companies plead guilty to tax evasion conspiracy

IRS: More than US$130M ‘hidden’ in Cayman

Hong Kong Regulator Bans Hedge Fund Founder

The SFC is stepping up scrutiny of personal trading irregularities in the hedge-fund industry.

Ganek Suit Over Hedge Fund Raid Moves Forward Against U.S.

The unusual decision on Thursday means the government must provide evidence about its work to Ganek and perhaps defend itself before a jury.

Spain’s monarchy drawn into banking scandal

In a leaked text conversation also involving the king, Queen Letizia pledges support for a scandal-hit banker whom she describes as her ‘yoga mate’

Legal,Regulation,Tax & Compliance