04/02/2015
Fiducaire Unit Facing Prosecution In Jersey
The Jersey court date has been set to start on 23 June 2015
Legal,Regulation,Tax & Compliance
04/01/2015
Guernsey Is Not a Tax Haven: KPMG
KPMG Head of Tax Tony Mancini discusses the Channel Islands and the accusations that the island chain isn't tax transparent
04/01/2015
Swiss Asset Manager Pleads Guilty in US Tax Avoidance Scheme
According to the allegations in the superseding Information and the prior indictment, as well as statements made during the plea proceeding and other documents filed in federal court in Manhattan, New York:
03/31/2015
Swiss Private Bank to Pay $211 Million Penalty in US Tax Case
Swiss Private Bank agreed to pay $211 million and became the first Swiss bank to reach a deal to avoid U.S. Justice Department prosecution
03/31/2015
RBC’s Bahamas unit caught up in allegations involving billionaire art dealer
Royal Bank of Canada’s wealth-management subsidiary in the Bahamas is caught up in tax fraud and money-laundering allegations
03/31/2015
The Cayman Islands Court Provides Guidance on the Approach to Trust Mistake Cases
The Cayman Islands Grand Court has for the first time applied the principles declared by the Supreme Court of England & Wales in Pitt v Holt and Futter v Futter.
03/31/2015
JPMorgan Execs Said Deposed in SEC Asset-Management Probe
JPMorgan Chase & Co. executives have been deposed and thousands of pages of internal documents subpoenaed as part of a U.S. investigation into the bank’s asset-management unit, according to people familiar with the situation.
03/31/2015
As the countdown begins, JHC commences FIGARO MiFID II project
JHC Systems has started the project to deliver the changes needed to FIGARO, its leading wealth management platform to accommodate the MiFID II regulations.
03/31/2015
HSBC's attempts to clean up US business practices are falling short, report says
A 1,000-page report by the US Department of Justice to force HSBC to operate to higher standards says bank is not improving the way it does business fast enough
03/30/2015
Offshore law firm promotes two Mauritius attorneys
Across the firm’s offices they have announced a total of seven promotions, including one attorney to partner and six to counsel.
03/30/2015
Internationally mobile employees - Changes to Taxation of Share Awards
The UK is changing the way in which it taxes share options and share awards held by employees who move between countries.
03/30/2015
Wealth managers risk enforcement actions as FCA 'runs out of patience'
Daryl Roxburgh, global head of software provider BITA Risk, noted firms have largely moved on from Excel-based suitability standards to “more systematic” processes, but said the area remains a core focus for the FCA.
03/30/2015
Tax avoidance investigations up by a quarter as HMRC rakes in extra £39m by targeting the rich
The Finance Team is part of HRMC’s High Net Worth Unit, which targets high earners in private equity, investment banks, hedge funds and other funds.
03/29/2015
Central bank warns ABN Amro on corruption risks: FD
The Dutch central bank has been highly critical of the way ABN Amro tackles the risk of corruption in Russia
03/29/2015
Ashurst and Slaughters advise on RBS sale of Coutts International
Ashurst and Slaughter and May have won lead roles advising on the Royal Bank of Scotland's sale of its overseas private banking and wealth management business to Union Bancaire Privée
03/27/2015
EU concludes negotiations with Switzerland on landmark tax transparency agreement
The European Commission has announced the conclusion of negotiations on an ambitious new tax transparency agreement with Switzerland
03/27/2015
ABN Amro Initial Offering Is Delayed Amid Pay, Probe Queries
The cabinet had planned to decide on how to proceed with the sale in the first quarter.
03/27/2015
Swiss bankers expected to get probation for tax fraud
Two former Swiss bankers are expected to avoid jail time when they are sentenced for their roles in a tax fraud scheme that helped U.S. customers hide billions of dollars in assets.
03/27/2015
State Ministers Hold Meeting with Swiss State Secretary on Tax Evasion
The meeting, which was concluded earlier on Thursday, was also attended by Justice Minister Nikos Paraskevopoulos and the President of the Parliament Zoi Konstantopoulou.
03/26/2015
Changing Domicile: Satisfying the Burden of Proof When Moving Abroad - Withers
Historically taxpayers have faced difficulty overcoming a presumption against a change in domicile to a foreign jurisdiction