08/06/2014
SEC Charges Four Promoters with Manipulating Marijuana-Related Stocks
The promoters reaped more than $2.5 million in illegal profits through their schemes.
Legal,Regulation,Tax & Compliance
08/06/2014
AIFMD rules fuel offshore fund boom
According to a BNY Mellon and FTI Consulting survey of firms in Europe, only two-fifths of asset managers had received authorisation and almost a fifth did not have the required AIFMD structure in place by July 22.
08/06/2014
Sidley Austin triumphs for Investec in banker bonus High Court battle
The former bankers argued that they had an unwritten agreement with the bank that their bonuses would be calculated based on an “economic value added” formula, rather than the profit and loss accounts of their desk.
08/06/2014
Bonus bashing rule could put off top banking talent
The new rules on remuneration have been imposed due to concerns over excessive risk taking and bankers’ role in the financial crash of 2008.
08/05/2014
Doubts over Macquarie Private Wealth compensation
The only people we know who’ve received compensation are people who’ve taken court action or lodged complaints with the Financial Services Ombudsman
08/05/2014
Global Forum releases new compliance ratings on tax transparency for 10 jurisdictions
With the release of the latest batch of reviews, the Global Forum has now completed 143 peer reviews and assigned compliance ratings to 64 jurisdictions that have undergone Phase 2 reviews.
08/05/2014
10 Most frequently asked questions by Dalila Ver Elst, Senior Compliance Officer, Maitland
FATCA is US law, but what does “UK FATCA” mean?
08/05/2014
IMA hits out at European body over dealing commission conflict
The Financial Conduct Authority has cracked down on fund managers charging clients for corporate access and revealed last month that only two of the firms it
08/05/2014
HMRC close the net on offshore payment intermediaries
The attraction to the contractor in using an offshore payment intermediary is easy to understand
08/05/2014
The Hedge Fund Manager On The FBI’s Most Wanted List
Florian Wilhelm Jürgen Homm, a German hedge fund manager who was on the run for more than five years, is wanted by the FBI for his alleged involvement in a market manipulation scheme designed to artificially improve the performance of eight Cayman I
08/05/2014
New tax rules for loans taken out by UK resident non-domiciliaries by Withers
When a UK resident but non-domiciled individual taxed on the remittance basis takes out a loan, either in the UK or overseas, which is secured on foreign income and gains and brings the funds borrowed into the UK, there are two aspects of the loan which m
08/05/2014
New tax rules for loans taken out by UK resident non-domiciliaries by Withers
When a UK resident but non-domiciled individual taxed on the remittance basis takes out a loan, either in the UK or overseas, which is secured on foreign income and gains and brings the funds borrowed into the UK, there are two aspects of the loan which m
08/04/2014
US targets German bank over Zimbabwe diamond finances
The United States has placed a German financial institution under strict surveillance for clearing payments for Zimbabwe’s diamonds at the recent Dubai diamond tender, state media reported Sunday.
08/04/2014
Fatca regime may have unintended consequences for financial system
Many financial institutions are still completely confused and unable to comply with the US government's Fatca regime. "Foreign Account Tax Compliance Act" sounds like another innocuous tax regulation.
08/04/2014
A Toppled Financier Finds a Safe Harbor in Germany
He used a debit card to buy a ticket to Florence
08/04/2014
Four promotions at Ogier Legal
Ogier Legal has announced that four Channel Island based lawyers were promoted on 1 August as part of their continued investment in training and developing top quality lawyers.
08/03/2014
A Post-AIFMD World by Des Pierce, SS&C
On a positive note, all responses to our survey suggested that AIFMs were prepared to meet the requirements of the AIFMD and the questions and knowledge demonstrated would support that sense of readiness.
08/03/2014
The non-resident landlords scheme: Could you be liable? by Katie Jackson, Withers
A non-resident landlord ('NRL') is a landlord who has UK rental income and whose 'usual place of abode' is outside the UK.
08/03/2014
City exec who dodged £43k in train fares quits Blackrock
He had hoped to avoid prosecution and publicity by reimbursing Southeastern trains just three days after being caught by a ticket inspector last November.
08/03/2014
Britain Fails to Find Riches It Expected in Swiss Accounts
The amounts at stake are enormous.