Managers of Wealth

Swiss-Banking Lawsuit Against IRS Could Have Wide Impact

Bernhard Gubser says his failure to declare assets that were in his UBS account in 2008 was an innocent error

WH Ireland faces 'substantial’ FCA fine

WH Ireland expects to be hit with a ‘substantial’ fine following a Financial Conduct Authority (FCA) review into its business.

Former Chief of BTG Pactual, André Esteves, Is Freed From Jail

The police subsequently found documents that may indicate BTG Pactual paid legislators in return for favors.

Private client law firm eyes more deals as merger completes

The parties said the merger had transformed the structure of the group with legal services to businesses and high net-worth private client work now accounting for half the group's turnover. Personal injury work – 80 per cent of which is made u

UK tax fraud costs government £16bn a year, audit report says

HMRC under fire for focusing its efforts on small-scale tax evaders rather than multinationals that owe far larger sums

Supreme Court dismisses Trump challenge to Scottish wind farm planning consent

Renewables developers will "breathe a sigh of relief" after the UK's highest court rejected Donald Trump's legal challenge to planning approval for an 11-turbine offshore wind farm near his Aberdeenshire golf course, an expert has said

Hervé Falciani: ‘HSBC Switzerland was a Tax Haven in Itself’

HSBC has acknowledged that its Swiss arm was guilty of advising customers on evading tax.

Justice Department Announces Three Banks Reach Resolutions Under Swiss Bank Program

The department continues to receive detailed information regarding the myriad schemes used by Swiss banks, their employees and other individuals to encourage and profit from the concealment by U.S. taxpayers of foreign accounts,” said Acting Assista

FCA releases MiFID II consultation paper

A significant part of MiFID II takes the form of EU regulations that are directly applicable in the UK without the need for changes to domestic law or regulation.

Monaco confirms its commitment to implement Automatic Exchange of Financial Account Information

Many jurisdictions are now updating domestic legislation to ensure that financial institutions report information on financial assets held by non-residents. Financial information will be collected from 1 January 2016 in around 50 jurisdictions, for autom

Doing Business in China: Unlock Investment Opportunities - King & Wood Mallesons

Emerging opportunities in e-commerce, finance and new ways to appeal to China’s increasingly sophisticated consumer base, are transforming the commercial landscape for investors.

South Korean tycoon jailed for fraud, tax evasion

The court also handed down 25.2 billion won (S$30 million) in fines.

Swiss banks release names of missing account holders

Releases names of more than 2,600 holders of accounts that have lain dormant for at least 60 years

Global FATCA: Let's Do It Again

Fifty-three jurisdictions have agreed to automatic ex-change of tax information beginning in 2017, under the OECD's Common Reporting Standard.

Swiss Bank Hid Assets for Jews in Wartime, Then Tax Evaders

Dreyfus avoided U.S. prosecution by agreeing to pay $24.2 million and admitting it “did not implement strict enough controls” to ensure that its American clients paid their taxes, the agreement says.

Five wealth managers not up to scratch: FCA

The City watchdog released a thematic review into the £600bn wealth management industry on 9 December.

Highly-regarded Global Equity Income fund manager joins Troy Asset Management

He had been with Newton for 15 years, will join Troy in 2016 to build a global equities proposition for the boutique alongside its successful equity income and multi-asset businesses.

Greek prosecutors investigating tax evaders raid UBS office

The information concerned accounts held by private individuals and companies with assets estimated to be worth up to 4 billion Swiss francs ($3.92 billion).

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.

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.

Legal,Regulation,Tax & Compliance