Managers of Wealth

Private client looks a picture of wealth

Private client issues such as inheritance tax, wills and trusts are top of the political agenda right now, and lawyers should prepare themselves for change.

HMRC non-dom crackdown set to increase under new government, says RPC

HM Revenue & Customs' increasing scrutiny of internationally-mobile high net worth individuals is likely to continue under the new Conservative government, say law firm RPC.

Tax: warm welcome for whistleblowers and investigative journalists

The “Luxleaks” journalists invited to Parliament to share their views and experiences and were warmly welcomed by MEPs, who complimented them on "their courageous work".

British banker set for H.K. trial after hinting not guilty plea

The case is now committed for trial at the High Court, Wan said, without giving a specific date.

Estimating the illicit funds in global tax havens

These illustrations show how the economic crisis of 2008 was a catalyst for going after tax havens by developed economies.

Falciani: all banks help evade taxes

“The higher compensation people get for helping justice, the greater the pressure cheaters will have. It’s important to know people can gain a lot more by helping instead of cheating.”

Shanghai Enacts Curbs on Business Dealings of Officials’ Relatives

The new rules, announced on Tuesday, bar the spouses of senior officials in the sprawling metropolis of more than 23 million from going into private business.

JPMorgan Says U.S. Probing Asset Unit in Sale of Own Funds

JPMorgan Chase & Co. received subpoenas and inquiries from the U.S. Securities and Exchange Commission and other regulators about how it sells its own mutual funds and other proprietary products.

Two Approaches to Ponzi Fraud Treatment — Which is Right?

In a recent article published by Law360, Peter McMaster QC of Appleby (Cayman) Limited discusses approaches to investor redress when an investment fund becomes a Ponzi scheme.

BNP Paribas unit probed in France over Swiss franc loans

A unit of French bank BNP Paribas has been put under investigation in France for misleading marketing of loans in Swiss francs

French-Italian whistle-blower's Open Letter to Prime Minister Narendra Modi

Increase transparency and focus on big corporations that exploit faulty banking mechanism to stash wealth abroad.

Barclays’ Lehman deal will go ahead

Barclays originally won approval to buy the brokerage business in September 2008

UK Supreme Court to hear HMRC case on bank bonuses

The UK’s highest court is to hear an appeal by HM Revenue & Customs over two offshore schemes designed to avoid paying tax on bankers’ bonuses

Foreign businessmen and lawyers facing 48 years in prison for tax evasion

Group of wealthy expats facing prison for failing to declare property purchases in Marbella

UBS in advanced talks with DOJ over forex as earnings surge

Regulators have already fined six major banks including UBS a total of US$4.3 billion

HSBC Judge Seeks More Information About Sanctions Compliance

The government and HSBC seek 30 days to comply, saying they may need to request that the report be filed under seal, or with redactions.

Aberdeen launches India tax claim

Aberdeen’s challenge will be watched closely by hundreds of other funds operating in India, who were alarmed by remarks last month from Arun Jaitley, finance minister, that India would seek to raise as much as $6.4bn by levying MAT on foreign invest

Belvedere update: Mauritius FSC suspends Belvedere’s management licence

Cites failure to comply with the law

Will FCA overturn independence rules as MiFID II looms?

The regulator is consulting on ditching the independence standard in light of incoming MiFID II rules

China Construction Bank Looks to Switzerland

China Construction Bank has officially applied for a banking license in Switzerland

Legal,Regulation,Tax & Compliance