Managers of Wealth

Obama blasts US firms for 'magically becoming Irish' in controversial tax switches

US President Barack Obama has blasted American multinationals that move to Ireland to cut their tax bill.

Private client group gains drive Raymond James to record quarterly profit

Pretax earnings jump 39% to $81.5 million; profit margins hit 10%

Rathbones to pay £15m to end Jersey trust battle

The settlement is expected to become unconditional before the end of October 2014. A further announcement will be made once the settlement has taken place.

MiFID 2 – What to expect in Switzerland? by Fabien Aepli and Nurith Cohen, Eversheds

The European Commission and the European Parliament agreed on the updated Markets in Financial Instruments Directive (MiFID 2) and on the Markets in Financial Instruments Regulation (MiFIR) on 15 April 2014.

Green party calls for wealth tax on assets of multimillionaires

The Green party has called for a wealth tax of up to 2% on the assets of multimillionaires that it believes could raise more than £40bn a year.

FCA fines ex-JPM Cazenove chairman £450k for market abuse

This follows on from the judgment of the Upper Tribunal (Tribunal) which upheld the decision of the FCA that Mr Hannam engaged in two instances of market abuse by disclosing inside information other than in the proper course of his employment in two email

BVI publishes draft FATCA Guidance Notes

In the latest moves towards implementation of the FATCA Intergovernmental agreements (IGAs) signed by the BVI with the US and the UK, the BVI Government has released draft Guidance Notes for public consultation.

Using Offshore Tax Havens

Taxes charged by governments are a lot like consumer prices charged by retailers.

Property in Cyprus, cars and Coutts bank accounts - men behind Norfolk fraud ordered to pay back £9m assets or face more jail time

Mark Fenhalls, prosecuting, said Esmene had £7.1m tied up in property across Europe and in Coutts bank accounts, while Yorkshire had £1.2m including property, cars and almost £500,000 of hidden assets.

Ashburton investment support manager who stole more than £500,000 from wealthy clients jailed for four years

The court heard Lomas abused her position to manipulate reports and doctor statements while she was an investment support manager at Ashburton (Jersey) Limited.

UBS’s Puerto Rico Closed End Funds Have a Troubled Past

Investors over the last several months have been filing legal action against UBS Financial Services Inc. of Puerto Rico over closed-end municipal bond funds that have tanked in value.

AIFMD implementation incomplete uncertainty remains - AIMA

A number of European countries have not implemented the AIFMD to date or not implemented it completely. AIMA said this is hindering managers’ ability to do business and means that investors in certain countries may be prevented from accessing altern

Coutts warned clients on film scheme HMRC tax challenge

Coutts has warned its clients about a possible HMRC Revenue & Customs tax probe into film investment schemes

Julius Baer expects to settle U.S. tax case in months

Julius Baer expects to strike a deal with U.S. authorities in a matter of months to settle a criminal investigation into the Swiss bank's role in helping wealthy Americans evade their taxes, its chief executive said on Monday.

Standard for Automatic Exchange of Financial Information in Tax Matters

New single global standard for the automatic exchange of information between key authorities worldwide

Jersey Finance welcomes new charities law

New legislation approved by Jersey’s government will help confirm the jurisdiction as a leading, mature and flexible centre for global philanthropic work, according to Jersey Finance.

Accounting giant to buy Parthenon

Ranked among the top 10 management consultancies worldwide.

Switzerland raise legal issues over sharing details of illegal Indian accounts: Arun Jaitley

Jaitley said the treaty between India and Switzerland on information sharing was prospective in nature, the reason why the country was not cooperating on the previous lists of such account holders.

BEPS – Risks and opportunities for the Financial Services sector

Fundamental changes to the international tax environment are set to provide both challenges and opportunities to businesses in the financial services sector.

STEP Private Client Awards - Butler Snow finalist for International Legal Team of the Year

The winner will be announced at the STEP Private Client Awards on Sept. 17 at the Hilton Park Lane Hotel in London.

Legal,Regulation,Tax & Compliance