07/30/2014
Banking Regulators want bankers to accept criminal liability under new plans
Main City watchdogs want a new licensing regime for bankers, which could also see bonuses deferred by up to seven years
07/29/2014
Plans to disallow UK non-residents from benefiting from the personal allowance could mean those who work abroad for their companies are “significantly worse off
07/29/2014
The Swiss lender also stands accused of aiding account holders from France and Belgium in hiding their money from domestic tax authorities.
07/29/2014
MiFiD 2: what to expect in Switzerland?
The directive and regulation are not directly applicable to non-EU countries.
07/28/2014
The Swiss firms can’t lessen their own penalties, and hence won’t be offering payments
07/28/2014
Despite a largely unaltered image abroad, the finance ministry official behind key international negotiations believes the Swiss financial sector will thrive after having signed data exchange agreements that some say spell an end to banking secrecy.
07/28/2014
The economist says the incentives for bankers remain tempting.
07/27/2014
“The financial stakes in this dispute are very high, the parties having contemplated annual revenues of circa $200m once their venture was up and running,” Decura said in its written legal argument filed in court.
07/27/2014
There is a steady stream of secret account-holders owning up, he said, with the 336 billion euros coming in since mid-June.
07/25/2014
France defends billion-euro guarantee demand in UBS probe
A 1.1 billion euro guarantee payment demanded by French judges of Swiss bank UBS reflects the size of the fine it could pay if found guilty of helping wealthy French customers avoid tax
07/25/2014
US President Barack Obama has blasted American multinationals that move to Ireland to cut their tax bill.
07/24/2014
Pretax earnings jump 39% to $81.5 million; profit margins hit 10%
07/24/2014
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.
07/24/2014
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.
07/24/2014
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.
07/23/2014
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
07/23/2014
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.
07/23/2014
Taxes charged by governments are a lot like consumer prices charged by retailers.
07/23/2014
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.
07/22/2014
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.