Managers of Wealth

Texas tycoon Wyly faces US$2 billion tax trial over offshore trusts

Texas tycoon Sam Wyly is set to face off against the Internal Revenue Service at trial on Wednesday

Swiss bank to pay US$100 million to resolve US tax probe

This amount has been entirely provisioned and does not affect the capital ratios of the group or of the bank, which remains among the world's best-capitalized banks

Permission possible for film tax probe

The evidence will be used in a case involving Frank Agrama, a film producer who is alleged to have been Berlusconi’s agent in the multimillion- euro scheme.

HSBC's Swiss unit facing German tax probe -SonntagsZeitung

Lawyers for HSBC are negotiating with authorities for a settlement which should also include a solution for the employees

Ipes and KPMG sign agreement to provide investors with certain services

One of the first deadlines for clients to be aware of is the deadline for FATCA reporting for US and UK investors in May/June 2016.

Art dealer Wildenstein accused of huge French tax fraud

This “hidden” estate consisted of properties in New York and the Virgin Islands

There's a secret, separate US tax system that rich people use to save billions

The fronts for the super-rich donate lavishly to both the Republicans and the Democrats, and the loopholes are exploited by everyone from the Kochs to Soros.

Global dragnet puts pressure on tax evaders as year-end deadlines loom

Some have been warned that their accounts could be frozen or liquidated.

Ex-Barclays Advisor Ordered to Return $1.4M to Former Employer

Webb managed more than $400 million in assets for high-net-worth clients as a senior director of portfolio management at BNY Mellon.

Sri Lanka secures support for Swiss bank account probe

The Swiss authorities agreed to co-operate and provide information if there are accounts in Swiss banks used for money laundering

Julius Baer Has Agreement in Principle in U.S. Tax Probe

Julius Baer has reached an agreement in principle with the U.S. Attorney’s Office for the Southern District of New York with respect to a comprehensive resolution regarding its legacy U.S. cross-border business.

Barclays fined $13.75m by US regulators

Barclays did not admit or deny wrongdoing in agreeing to the settlement

The simple reason the rich will always be one-step ahead of the IRS

Among tax lawyers and accountants, “the best and brightest get a high from figuring out how to do tricky little deals,” said Karen L. Hawkins, who until recently headed the I.R.S. office that oversees tax practitioners.

China's central bank has suspended some foreign exchange businesses of several foreign banks

The People's Bank of China (PBOC) sent a notice to the impacted foreign banks on Monday

Common Reporting Standards Come Into Effect For Many Offshore Funds on January 1, 2016

Due diligence procedures for identifying existing individual accounts with balances of at least $1 million will have to be completed by December 31, 2016

Switzerland to vote on whether to ban private banks from creating money

Swiss referendum aims to glimit speculation by granting central bank monopoly over creation of both physical and electronic money, and requiring private banks to hold 100% cash reserves againt deposits.

'Top Ten' Estate Planning and Estate Tax Developments of 2015

In an ever eagerly anticipated annual tradition, Ronald Aucutt, a McGuireWoods partner and co-chair of the firm’s private wealth services group, has identified the following as the top ten estate planning and estate tax developments of 2015.

Switzerland, Italy Agree Tax Deal For Cross-Border Workers

Employees will pay up to 70 percent of the income tax that would ordinarily apply to employment income in the state where they work.

Safra, Coutts Boost Swiss Bank Program Fines Near $1 Billion

The Swiss Bank Program, which was announced on Aug. 29, 2013, provides a path for Swiss banks to resolve potential criminal liabilities in the United States.

FCA should ease burden on smaller advisers

The Treasury and FCA review is looking at the advice gap

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