Managers of Wealth

Russia, Qatar could lose World Cups: FIFA official

Russia and Qatar could lose the right to host the 2018 and 2022 FIFA World Cups if evidence is found of corruption in the bidding process, a FIFA official was quoted as saying on Sunday.

Swiss regulator, UBS chairman disagree over banking standards

The chairman of Swiss banking giant UBS and the head of Switzerland's financial watchdog clashed on Monday over the country's need to have tougher targets for its own banks than the global standards for the industry.

OSC seeks to beef up whistleblower program with cash rewards up to $1.5M

U.S. offers large payouts for information, but programs in Canada are just getting started

IRS releases interim guidance for FBAR Penalties

Many are now familiar with the famous Report of Foreign Bank and Financial Accounts (FBAR), a relatively small form that carries with it the threat of huge penalties in the case of a willful failure to file.

Finance minister advocates domestic tax amnesty

Switzerland’s participation in agreements over the automatic exchange of information means that tax amnesty within the country's borders should be considered for a fair playing field

Recent Tax Treaty Developments In Cyprus by Philippos Aristotelous, Andreas Neocleous & Co

The proposed provisions are similar to existing provisions relating to information exchange except in one important regard.

Ombudsman forces managers to make up losses suffered in late transfer

The Pensions Ombudsman has ordered two wealth managers to make up the investment losses incurred by a pensioner on the late transfer of his drawdown fund.

OECD releases Implementation Package for BEPS country-by-country reporting

Pushing forward efforts to boost transparency in international tax matters, the OECD today released a package of measures for the implementation of a new Country-by-Country Reporting plan developed under the OECD/G20 BEPS Project.

Business interests tie Webb, Takkas to Cayman company

Webb and Takkas, a British national and former longtime resident of the Cayman Islands, were arrested in Zurich, Switzerland, on May 27 and are fighting extradition to the U.S.

DOJ readies fresh round of hefty bank settlements

The settlements involve mortgage securities that the banks sold in the run up to the financial crisis.

Ex-Blatter Ally Warner Promises to Release FIFA Funding Secrets

Warner faces prison for his alleged role in more than $150 million in payments made and accepted by 14 officials and sports-marketing executives

Achieving Regulatory Alpha through Regulatory Enterprise Risk Management

From managing systemic risk to enhancing transparency and investor protection, firms are grappling with balancing the demands of an ever-changing regulatory landscape with limited budgets and operational resources.

Strengthening the international community’s fight against offshore tax evasion

Australia, Canada, Chile, Costa Rica, India, Indonesia and New Zealand join multilateral agreement to automatically exchange information

Bank tied to Fifa scandal has chequered past

Delta National Bank appears more than 24 times in US charges against football officials and has had at least three prior run-ins with authorities

Swiss prosecutor drops probe into money laundering at HSBC

The move clears up one of the numerous investigations around the world into HSBC’s Swiss private banking unit, which faces allegations of aiding clients to avoid tax and laundering money from illicit sources.

Gibraltar QROPS operator accountability set to rise

Gibraltar QROPS operators could see their responsibilities as a trustee extend to include the due diligence of overseas financial advisers

deVere Group launches tax consultancy

One of the world’s largest independent financial advisory organisations has today launched its standalone tax consultancy division.

Investigation leads to missing Baltic millions in Switzerland

The data also reveals that Latvia's ABLV bank is linked to significant amounts of money in HSBC's controversial Swiss accounts.

New Company Incorporations Rise in Majority of Offshore Jurisdictions in 2014

Mauritius standout of all offshore jurisdictions, onshore comparator China remains ‘world’s engine room’ for company registrations

No safe havens… by Gary Heynes

Perhaps surprisingly, Switzerland is one the first to sign up to an automatic exchange agreement with the EU, with Andorra, Liechtenstein, Monaco and San Marino set to follow. This means that very soon there will be no safe haven for hidden funds…

Legal,Regulation,Tax & Compliance