08/10/2015
Offshore Messenger: Budget changes significantly impact offshore world
In a bid to raise more tax, the UK Summer Budget introduced a number of changes which will significantly impact the offshore world.
Legal,Regulation,Tax & Compliance
08/10/2015
Wealth planning update - Withers
With this newsletter we would like to bring to your attention a number of international developments that are likely to be relevant for clients and their advisers alike.
08/07/2015
Brazil tax amnesty plan may struggle to lure back offshore assets
It's going to be a major flop.
08/07/2015
Tax concerns mount while richer clients claim manager disatisfaction
Almost half of high net-worths have cited climbing tax rates as their number one concern
08/07/2015
More Swiss banks settle tax evasion probe with US
Three further Swiss banks have come to an agreement with the United States authorities over clients who evaded US taxes by using Swiss bank accounts.
08/07/2015
Barclays' McFarlane bans jeans and flip-flops in culture clampdown
It said that while dress-down Fridays could still go ahead with jeans, trainers and T-shirts all permissible, flip-flops face an outright ban.
08/07/2015
Soccer’s Romario Gets Apology After False Offshore Cash Claim
The timing of the Veja article coincided with the start of a parliamentary investigation into alleged corruption at Brazilian soccer’s governing body that Romario is leading.
08/05/2015
5 firms, 6 emails / Electronic chat transcripts that cost billions
Emails, telephone calls and electronic chats were a crucial part of the damning evidence
08/05/2015
Double taxation pact reflects growing importance of Oman: Swiss envoy
That agreement, originally signed in 2009, came into effect on July 1 this year, according to Curtis law firm.
08/05/2015
ESMA to Assess Non-EU Countries for AIFMD Passport
This is good news for alternative investment fund managers that do business in Europe,
08/04/2015
Deutsche Bank Said to Be Probed by DOJ on Russia Mirror Trades
U.S. federal prosecutors are investigating billions of dollars of trades Deutsche Bank AG made on behalf of Russian clients as recently as this year, according to people with knowledge of the situation.
08/04/2015
Ex-UBS, Citigroup trader jailed by London court for Libor rigging
In the first trial of a defendant accused of Libor rigging, Hayes had faced up to 10 years imprisonment for each count of conspiracy over the manipulation of London interbank offered rate Libor
08/04/2015
'Fugitive' ex-UBS trader cannot escape U.S. case over Libor: judge
Darin's lawyers argued he was not a fugitive since he had never fled
08/04/2015
JPMorgan Questioned on Private Bank’s Hedge Fund Disclosures
The firm is responding to and cooperating with the relevant authorities
08/04/2015
The impact of FATCA in the Philippines
Hiding money overseas to avoid taxes has been the long-established practice of some taxpayers. Offshore tax havens (i.e., countries that have low or no taxes and lack of transparency) still exist, making it possible for individuals to evade taxes by not r
08/04/2015
Swiss Bank Reaches Resolution under Justice Department's Swiss Bank Program
Individual Income Tax Returns, or IRS Forms 1040, that failed to report their respective interests in their undeclared accounts and the related income.
08/04/2015
Three more Swiss Banks Reach Resolutions under Justice Department's Swiss Bank Program
Banks Will Collectively Pay Penalties of More than $8.4 Million and Continue to Cooperate with Department
08/04/2015
Andy Warhol and Damien Hirst dealers investigated as buyers left with nothing
Police launch inquiry after couple sell gallery and move to France – as collectors and artists chase £500,000
08/04/2015
€25m Picasso and superyacht collide with Spanish export ban
Customs officials are tipped off about alleged attempt to take painting belonging to member of banking dynasty to Switzerland
08/03/2015
Regulator delays decision on whether big funds systemically important
Global work by regulators on whether big asset managers should face tougher rules because of their size has been put on hold to focus on their ability to cope in volatile markets, a task force set up for the Group of 20 leading economies said.