Managers of Wealth

U.K. regulator opens probe of 6 insurers's fees

The FCA is focusing on fees charged to customers.

Ex-HSBC Credit Trader Jorgensen Sues Bank for Unfair Dismissal

Compensation for a successful unfair dismissal claim is capped at about 78,300 pounds ($110,000) at London’s employment tribunals

Income tax department examining HSBC reply in blackmoney case: CBDT

The bank, without disclosing the names of the Indians who indulged in the alleged tax evasion through its Swiss or Dubai units, had recently announced in its annual results

Pershing Launches Two-Part Series on Fiduciary Practices and Conflicts of Interest for Broker-Dealers and Hybrid Firms

The whitepaper points out the ways dually registered financial professionals will face increased scrutiny with their investment recommendations.

Top Puerto Rico luxury hotel targeted in tax evasion case

The island's Justice Department said Wilhelm Sack and Harold Davies Mayne of the Horned Dorset Primavera are accused of withholding more than $600,000 in room occupancy tax over the past six years.

Common Reporting Standard: The impact of new tax transparency rules on charities - Withers

Some time ago we wrote about the impact on UK charities of the Foreign Account Tax Compliance Act ('FATCA'). UK charities with US investments became obliged under FATCA to certify their status to banks and investment managers, but in essence, th

Mistake: escaping from tax consequences – the Royal Court of Jersey sounds a cautionary note

The familiar adage “if it looks too good to be true, it probably is too good to be true” has certainly applied to a number of tax mitigation schemes over the years.

Europe-wide action targets money mule schemes

The operation was also supported by Europol, Eurojust and the European Banking Federation.

Trusts and Privacy - A new battle front by Filippo Noseda, Withers

The use of trusts is under attack in a number of European jurisdictions, and the OECD's Common Reporting Standard poses significant further threats to their use.

Chance to come clean on offshore stashes

The Special Voluntary Disclosure Programme is a joint initiative of the South African Revenue Service and the South African Reserve Bank.

Richard Pease sues Henderson in £2.7m contract row

Pease, who joined Henderson following its acquisition of New Star

Mystery Malaysian High Roller at Center of Global Laundering Probe

He arrived from out of nowhere in 2009, a mysterious, geeky 28-year-old dropping ridiculous amounts of money all over the city.

Legal War Between Silicon Valley Millionaire, Ex-Wife Rages On

Thought you’d seen the last of the Silicon Valley multimillionaire who was falsely accused by his mentally unstable Swedish-born trophy wife of chaining her to the bed and sexually torturing her with a golf club while she was nine months pregnant?

The Wall Street rat is going to get more fat

Previously, older laws enacted after the savings and loans scandal in the 1980s capped awards at $1.6 million.

$100-M laundering via PH banks, casinos probed

More importantly, the suspected illicit funds are said to be part of funds stolen by computer hackers recently from the accounts of a bank overseas, which Inquirer sources said was a financial institution in Bangladesh.

Stiff competition in Africa as multinational law firm hires leading partner duo in Johannesburg

I am excited to have the opportunity to grow the Competition practice in Africa, a key market with so much potential."

Bills would allow bigger payouts to Wall Street whistleblowers

Previously, older laws enacted after the savings and loans scandal in the 1980s capped awards at $1.6 million.

Former Coutts employees sue over wrongful dismissal

This included the bank’s private banking operations in the Cayman Islands, but the Cayman trust business remained.

Dentons tells ex-Luce Forward partners of $1.9M clawback years after they joined predecessor firm

Some ex-partners of the bygone California firm who are not currently connected with Dentons are being offered a chance to repay the claimed debt

Gibraltar hit with regulatory action for secrecy act and anti-money laundering violations

The OCC today also issued a $2.5 million CMP against the bank.

Legal,Regulation,Tax & Compliance