Managers of Wealth

Time running out to own up to tax avoidance

Expats who have failed to pay their taxes may find the attractive option of using the Liechtenstein Disclosure Facility blocked, thanks to changes made to it recently.

Microsoft will not hand over overseas email, despite order

That prospect had drawn concern from technology companies - fearful of losing revenue from foreign customers worried that U.S. law enforcement might win broad power to seize their data.

Argentina Debt Crisis: Swiss Banks Call for New Debt Rules in Wake of Hedge Fund Case

The proposal comes while a number of nations are facing debt problems

Baker & McKenzie Advises Football Player Leonardo Ulloa on his Transfer to Premier League Team Leicester City FC

Baker & McKenzie has provided legal advice to high-profile striker Leonardo Ulloa, a former Brighton player, in relation to his transfer to English team Leicester City FC.

Jail for offshore tax evaders

The crackdown, which could make criminals of those ignorant of tax law or those who forget about assets, is contained in proposals made by HM Revenue & Customs earlier this month.

Companies find other ways to move offshore and avoid U.S. taxes

Some firms have left the U.S. system not through inversions but through buyouts by investment funds

Wickenby identifies $2b in tax liabilities

is review of the tax agency’s high-wealth individuals program found that between 2011-12 and 2012-13 the super rich had clawed back more than half (52 per cent or $477 million) of the $909 million the tax office disputed.

Creating a Family Foundation for Charitable Giving by Samantha Pritchard, Bond Dickinson

With the future funding capability of the Northern Rock Foundation still uncertain, charities in the North East may face the loss of a valuable, significant North East focussed donor.

Deutsche Bank fined £4.7m for failing to properly report transactions

The failure, which affected all Deutsche’s Equity Swap CFD transaction reports in this period, breaches FCA rules on transaction reporting.

Judge Wants More Facts On UBS Exec's Foreign Witnesses

The court denied Weil’s motion to obtain live video testimony

CFTC Orders Merrill Lynch to Pay $1.2 Million Fine for Supervision Failures

Firm’s Supervisory Failures over Fee Processing Led to Client Overcharges at Times

Argentina revokes charter for Bank of New York Mellon

Argentina’s banking regulator has revoked the charter for Bank of New York Mellon to operate in the country.

Making the domicile decision: key factors to consider when selecting an MSR - KPMG

In this edition of AIFMD Insider News, we examine the key factors managers will need to consider when selecting a Member State of Reference (MSR) in Europe.

New Zealand Police seize assets of Chinese-born millionaire in money-laundering probe

Yan, who has a reputation for spending millions in the city's biggest casino, was seen meeting a defense lawyer Simon Lance after the raid

Microsoft The Latest In Offshore tax Evasion Club

The technology giant is facing scrutiny amid findings that it is housing nearly $92 billion offshore in an effort to avoid as much as $29 billion in US taxes.

Germany sues Switzerland's largest private bank for £100m over lost East German assets

The German federal department responsible for chasing lost East German assets has filed a complaint in a Zurich court against Julius Baer.

UK recovers $498,000 from sale of criminal's Dubai home

A confiscation order was initially put in place in September 2012 for £417,031.52 and has now been fully satisfied following the sale of the apartment.

Facing More Regulation, but Falling Short on Compliance

Firms in the financial services industry are known for being subject to a growing number of regulations.

Private bank loses 200m case in DIFC

No figure for compensation was set but the family has been claiming over $26.5 million.

Julius Bär sued for missing German millions

Switzerland’s largest private bank, Julius Bär, has been hit by a German demand to pay back €135 million in assets that went missing during the reunification of East and West Germany.

Legal,Regulation,Tax & Compliance