Managers of Wealth

Haifa judge suspected of holding secret UBS account

Judge Moshe Gilad and his wife, Acco City Council member Aviva Gilad, allegedly committed tax violations.

Cayman Islands: Government Issues Beneficial Ownership Report

The consultation was conducted by the Ministry of Financial Services and Commerce.

Do not unfairly tax the rich

The former private client lawyer and partner of London-based Simmons & Simmons where acted for some of world’s wealthiest, said that when the top rate of tax came below 50 per cent, the tax take increased by 5 per cent.

SEC Provides Guidance on Key Employee Trusts Under Family Office Rule

The SEC Division of Investment Management recently provided guidance on whether certain key employee trusts would qualify as family clients under the rule.

Credit Suisse Bank Faces $10 Billion Lawsuit Over Pre-2007 Mortgage Fraud

The legal wrangling isn’t entirely over

Cyprus and US sign FATCA IGA

Cyprus has signed a Model 1 IGA containing a most favoured nation provision which provides that any more favourable terms negotiated under another country's IGA will automatically be applicable to Cyprus.

Vatican Bank Joins 100 Nations In FATCA Offshore Account Hunt

In his annual Christmas messages to more than one billion Catholics, the Pope may have left out something: offshore account compliance.

Pershing to pay $3 mln for customer protection violations

The "customer protection rule" at issue in FINRA's action is a mandate of the U.S. Securities and Exchange Commission.

QROPS TV Reports On Latest Legal Changes To UK Pensions Affecting Britons Overseas

QROPS TV has published a new editorial on the new laws coming into effect around UK pensions and specifically how this affects Britons in the US looking to transfer their pension to a 401k.

Global bank regulator proposes standardised minimum capital measure

However the increased capital ratios that are coming into effect under the so-called Basel III regulations are still mostly based on a bank's internal model of calculating the risk of its activities.

Rbc Agrees $35m Fine Over Scheme Involving Bahamas

The consent order reveals that between June 1, 2007,and May 31, 2010, RBC entities executed 1,026 such transactions

FCA warns of unauthorised wealth manager

The Financial Conduct Authority has warned of a scammer pretending to be an authorised wealth manager and targeting investors in the UK.

Think-tanks propose EU regulation opt-out for fund managers

Two think-tanks are proposing that fund managers in London who do business outside the European Union should be able to negotiate an exemption from European regulation, illustrating the growing Euroscepticism among the UK’s fund management community

Connaught Asset Management directors banned for 16 years

Two directors of Connaught Asset Management have been disqualified as directors for a combined 16 years for allowing the misuse of up to £106 million in investment funds after an investigation by the Insolvency Service.

Swiss reputation abroad suffers setback

However, Switzerland’s reputation has improved in Poland and in Britain over the past five years.

German state buys tax CD containing Swiss bank client data - paper

The newspaper also said that in the past week there had been several raids on the unreported income of clients of Credit Suisse in NRW related to a tax CD that NRW authorities bought in 2012.

Swiss Bankers in Limbo After U.S. Jury Acquits Ex-UBS Executive

The courtroom victory of the only Swiss banker to beat the U.S. in a trial over offshore tax evasion may embolden other indicted financial workers to leave a legal limbo some have occupied more than five years.

Guernsey ups the anti for new funds

Looking at the Crown Dependencies, Jersey saw a 6% increase over the previous half-year, while Guernsey saw something of a dip in the number of new company incorporations.

Fred the Shred ordered to reveal £12bn RBS rights issue emails

Goodwin will have to trawl through hundreds of text messages and emails by order of the court, ahead of a court case against him and other RBS bosses due to take place in 2016

Russia to bail out Trust Bank with up to $530 million

The central bank also said its Deposit Insurance Agency, responsible for managing crisis-hit lenders, would take over interim supervision of Trust Bank as of Monday.

Legal,Regulation,Tax & Compliance