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
Legal,Regulation,Tax & Compliance
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.
12/07/2015
Private school fee records used to target offshore tax evasion
He said the ATO had 5000 client names from wealth management firms and a list of 100 advisers and promoters who had a "direct link with people who may have evaded taxes".
12/07/2015
City law firm GQ Employment Law acquires smaller rival Camfords
City law firm GQ Employment Law has snapped up a smaller boutique rival Camfords for an undisclosed sum, the pair announced today.
12/06/2015
Madoff Trustee Begins $1.19 Billion Payout to Victims
The latest payout will go to holders of 1,071 accounts at the former Bernard L. Madoff Investment Securities LLC.
12/06/2015
Fenced off: how London’s super-rich are destroying the soul of their community
Highgate is now a middle-class frontline against a billionaires’ investment invasion
12/06/2015
Inside the wild Bahama battle between two wacky billionaires
For eight years now, the self-made apparel king Peter Nygard and the financial tycoon Louis Bacon have been locked in a wild battle over a strip of land on Nassau in the Bahamas
12/05/2015
A global law firm decides there's no place like home
They say you can never go home again, but Baker & McKenzie wants to try.
12/04/2015
EFG Bank to pay $29 million in Justice Dept program deal
“Today’s resolution with EFG Bank European Financial Group SA, Geneva and EFG Bank AG reflects the continued progress of the Department of Justice’s Swiss Bank Program,” said acting Deputy Commissioner International David Horton