Managers of Wealth

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

Swiss market regulator bans 6 ex-UBS bankers

Proceedings against one further UBS employee continue.

Changes to the BVI Eligible Introducer Regime and Public Filing of Registers of Directors - TMF

The British Virgin Islands (BVI) are a leading international finance centre; well known for complying with the highest international regulatory standards.

Hardouvelis to be probed over wealth declaration

The case concerns a period before he became minister, when he was an economic adviser to interim Prime Minister Lucas Papademos.

Ex-Morgan Stanley Adviser Avoids Prison Over Theft of Data

The lawyer begged the judge not to send his client to prison, saying Marsh has rediscovered his faith, is volunteering at a soup kitchen and working as a consultant to a startup software company.

East Anglia law firm regional winner at Wealth & Finance magazine’s Finance Awards

Regional law firm Birketts has added to its 2015 awards haul by winning the “Best for Business Law – East England” title at Wealth & Finance magazine’s Finance Awards.

Five of world's biggest investment banks pay no UK corporation tax

JP Morgan, Bank of America Merrill Lynch, Deutsche Bank AG, Nomura Holding and Morgan Stanley make billions in profit in Britain – but analysis reveals their UK arms paid not a penny of business levy in 2014

Legal,Regulation,Tax & Compliance