12/14/2015
Chinese tycoon who modeled himself on Warren Buffett helping authorities with probe, his firm says
Guo’s disappearance came in the midst of a far-reaching crackdown on corruption launched by President Xi Jinping.
Legal,Regulation,Tax & Compliance
12/14/2015
UK regulator to name and shame asset managers
The Financial Reporting Council will reveal for the first time in July those investment groups that are not putting adequate pressure on companies in their roles as stewards of other people’s money.
12/14/2015
Opinion: Beneficial ownership smokescreen
The rumours have become a fact and now it is time we face the reality. Cayman Islands banking secrecy days are over.
12/14/2015
Asset Management Industry on the Verge of Data Management Revolution in 2016
Heightened Regulatory and Investor Mandates for Increased Transparency Prompting Shift in Data Management Best Practices
12/11/2015
Two more banks reach resolutions under Swiss Bank Program
Banks already under criminal investigation related to their Swiss-banking activities and all individuals were expressly excluded from the program.
12/11/2015
MiFID II: The transparency imperative
The industry needs hard facts if it is to develop successfully and cost-effectively the new infrastructure that MiFID will demand.
12/11/2015
Leeds United chairman Massimo Cellino is cleared by Italian court
Case related to alleged tax evasion during his time at Cagliari
12/11/2015
BTG Pactual Said to Work With Lazard on Swiss Private Bank Sale
BTG and the New York-based financial adviser are reaching out to possible buyers including Swiss banks and foreign lenders
12/11/2015
Tax evaders to feel full force of the law
New legislation brings the possibility of jail sentences for those who aren’t upfront with HMRC about assets held overseas
12/11/2015
Latvian regulator fines Ukrainian bank implicated in Moldova fraud case
Latvia's large number of boutique banks specializing in non-resident clients from Russia, Ukraine and central Asia have long been linked to cases of alleged money-laundering.
12/10/2015
New DIFC Court Ruling Grants Al Khorafi Family in Excess of $70 Million
Bank Sarasin-Alpen and its affiliate, Switzerland's J. Safra Sarasin Ltd (formerly Bank Sarasin), ordered by Court to pay losses
12/10/2015
India, Switzerland improve cooperation on tax matters
Switzerland and India have been working closely together in the field of mutual administrative assistance over the past few months
12/09/2015
Tax legislation needs more scrutiny, not less by George Bull
Recent moves by the Government to curb the powers of the House of Lords by making greater use of secondary regulations instead of relying on primary legislation could have disastrous implications for the scrutiny of tax legislation.
12/09/2015
FCA fires suitability warning shot at wealth managers
Wealth management firms and private banks: suitability of investment portfolios
12/09/2015
Examining the future of anti-money laundering regulations
Speech by Rob Gruppetta, Head of the Financial Crime Department, FCA, delivered at the Accuity AML Risk Reduction and Compliance Europe Conference on 8 December 2015.
12/09/2015
FINMA publishes its Financial Market Infrastructure Ordinance
FINMA held a public consultation on FMIO-FINMA.
12/08/2015
Madoff Fund Manager Starts Legal Defense With History on Side
The trial of Manuel Echeverria-- who streamed clients’ money to Bernard Madoff-- began on Monday
12/08/2015
Canadians with Swiss bank accounts have until December 31, 2015 to file a voluntary disclosure
Most large Swiss banks have already requested from their Canadian clients evidence that their Swiss accounts are reported in Canada or that a voluntary disclosure has been initiated.
12/08/2015
More than 50 banks which helped American clients dodge tax in Swiss bank accounts receive immunity from criminal prosecution in US
Some 57 companies have rushed to sign up to the Department of Justice’s ‘Swiss Banks Programme’.
12/08/2015
Hong Kong Urged To Cut Tax For Asset Management
It sets out recommendations relating to the tax regime for OFCs, which is currently under review by the Government, as well as the profits tax exemption criteria for offshore PE funds introduced on July 17, 2015.