Managers of Wealth

‘The regulatory train has left the station’: FLinks 2014

West Lockhart added the industry “will still be able to take commission, in a post MiFID II climate”.

Signatures handed in to protect domestic banking secrecy

On this point, cabinet is set to address the concerns raised by the initiative, as it instructed the finance ministry in July to draw up a revision of the Swiss fiscal code to address tax evasion issues.

Banks facing £2bn fine for rate rigging: Regulators suspect traders at six major banks may have conspired to fix £3trillion-a-day 'FX' market

Six major banks including Royal Bank of Scotland and Barclays face huge fines for rigging the ‘Wild West’ foreign currency market.

Tax bureau gets Swiss bank accounts data

The head of the AFIP tax bureau Ricardo Echegaray received yesterday an encrypted CD from the French government containing information on 3,900 undeclared bank accounts of Argentine origin in the Swiss branch of HSBC.

Billionaires and Tax Evaders On The Rise In Greece

A French court has concluded that 1.1 billion euros in foreign-held UBS accounts requires further investigation.

Switzerland Plans Landmark Cantonal Corporate Tax Reforms

Companies with cantonal tax status have accounted for roughly half of the Confederation's profit tax receipts in recent years

'I was terrified we'd lose all our money': banks tell US customers they won't work with Americans

Thousands of Americans abroad are giving up their citizenship as the implementation of a complex new tax law causes banks to shut down accounts for US expatriates

Swiss Bank Agrees to Pay $850,000 for Unregistered Trading

As part of the settlement agreement, the respondents have agreed that they breached securities laws regarding registration requirements.

Prevent your family falling out

The difference between harmonious family relations and bitter infighting for seriously wealthy families is often a well thought-out family charter.

Leeds United: GFH bought a Rolls Royce but couldn’t afford the petrol says Haigh

Haigh, who denies the fraud claims, was arrested on May 18 after he flew to the Middle East for talks about a supposed new position with GFH.

IRS Warns Financial Institutions of Scams Designed to Steal FATCA-Related Account Data

The Internal Revenue Service today issued a fraud alert for international financial institutions complying with the Foreign Account Tax Compliance Act

FCA MiFID II conference summary - Withers

On 18 September, the Financial Conduct Authority (FCA) held a conference which addressed the agenda for Markets in Financial Instruments Directive (MiFID) II.

Why Labour’s Mansion Tax shows that it has lost touch with financial reality

The fact that the Mansion Tax is so badly designed and illogical suggests that it would soon mutate into a full-blown, French-style wealth tax

SEC Charges Barclays Capital with Systemic Compliance Failures After Acquiring Lehman’s Advisory Business

After its wealth management business in the U.S. acquired the advisory business of Lehman Brothers in September 2008.

Swiss Banks’ DoJ Emissary Sees Tax Spats Drag on in 2015

Julius Baer Group Ltd. (BAER), Switzerland’s third-largest wealth manager, and “a smaller bank” may be the next firms to reach a resolution.

BBA urges Bank to exclude HNW clients from LTI cap

We have some serious concerns about what such legislation would mean for a small, but increasingly important part of our financial services industry – private banks and high net worth customers.

Think High Stakes Whistleblowing is Just a U.S. Phenomenon? Think Again

Today the SEC announced that it will pay $30 million to a whistleblower in the largest award ever doled out by the agency.

Switzerland Seeks To Relieve Double Tax On PEs

If these permanent establishments receive revenue from dividends, interest, or royalty payments from a third state with which Switzerland also has a DTA

Pressure on Switzerland on sharing bank account information

Pressure is building up on Switzerland to accede to India's request for information on its citizens who held accounts in HSBC's Geneva branch.

French court rules UBS to deposit 1.1 billion euro in tax probe

UBS, which appealed in July, had already paid a much smaller 2.875 million-euro guarantee in the case.

Legal,Regulation,Tax & Compliance