03/31/2014
FCA to probe wealth managers' use of in-house funds
The Financial Conduct Authority is to investigate the use of in-house funds by wealth management firms and private banks.
Legal,Regulation,Tax & Compliance
03/31/2014
Swiss probe banks over foreign exchange market
RBS, Barclays, UBS, Credit Suisse, Zuercher Kantonal Bank, Julius Baer, JP Morgan and Citigroup are being probed by Swiss competition commission, Weko.
03/31/2014
Julius Baer says found no evidence of market abuse in forex probe
"The internal investigation has shown no indication whatsoever of market abuse behaviour," a spokesman said, adding that the bank would co-operate with the investigation.
03/31/2014
FCA to make rogue fund managers pay back bonuses
The Financial Conduct Authority is to scrutinise the pay and clawback measures for all regulated companies including the 2,100 FCA-supervised fund houses.
03/28/2014
Crackdown on tax avoidance and personal tax
"The rich are making the biggest contribution to the reduction of the deficit – because we are all in this together.”
03/27/2014
Switzerland treads careful path over Russia sanctions
witzerland said on Wednesday it would not be "abused" by those wanting to circumvent Western sanctions against Russia but stopped short of adopting its own measures.
03/26/2014
Vestra Wealth: Thousands of UK citizens could be caught under FATCA
Thousands of ‘accidental Americans' could be unwittingly caught by the Foreign Accounting and Tax Compliance Act from July, leaving them exposed to US tax liabilities, Vestra Wealth has warned.
03/26/2014
Shoosmiths’ Private Client team win at Scottish Legal awards 2014
Competition was particularly fierce and saw the highest number of entries in the 11 year history of the awards. The finalists came from 33 different firms across Scotland, with 61 entries making the shortlist in various categories.
03/26/2014
EY voted Top Global Accounting Firm
Hedge fund managers voted EY as the top global accounting organization in this year's Institutional Investor's Alpha 2014Alpha Awards.
03/26/2014
Luxembourg Supports New Savings Tax Directive
The EU 28 formally adopted the revised Savings Tax Directive on March 24, 2014
03/25/2014
The plea deal of an ex-banker details tax-evasion schemes
As part of a plea agreement, an ex-Credit Suisse banker recently disclosed how U.S. customers avoided offshore account disclosure requirements.
03/25/2014
Six Lessons Learned from the FCAs First Year
Record-Breaking Financial Penalties Exposes Need for Conduct Risk Framework and Clearer Understanding of FCA Expectations within Businesses
03/25/2014
U.S. Senate Urges the Department of Justice to Seek Extradition of Swiss Bankers Who Helped U.S. Taxpayers Maintain Undisclosed Bank Accounts
The Department of Justice, confirmed it has charged 35 Swiss bankers and 25 financial advisors with helping U.S. Taxpayers hide their undisclosed overseas accounts, but has not yet sought their extradition to the United States.
03/25/2014
'Deoffshorisation' of Russian Economy: Draft Law on Controlled Foreign Company legislation and other measures - Withers
Implementation of the new legislation will provide the Russian tax authorities with legal mechanisms for taxing international corporate and private structures.
03/24/2014
Guernsey And AIFMD: Offering The Best Of Both Worlds
Fiona Le Poidevin explains why Guernsey provides an excellent platform for AIFMD compliant investments in Europe with all the options available to a financial centre outside the EU.
03/24/2014
FCA tells hedge fund giants to show integrity
Hedge funds manage $470 billion in the UK, with 82% of the assets controlled by just 20 large firms
03/24/2014
Guernsey Financial Services Commission signs MoU with FINMA
The completion of this agreement is a positive endorsement of the Commission and the important work it undertakes on behalf of the Bailiwick
03/24/2014
Credit Suisse reaches settlement with FHFA
Bank will pay $885 million to settle lawsuit regarding mortgage-backed securities
03/24/2014
Ambassador sued for hiding his wealth
Three officials are sued over an alleged concealment of their wealth by the High Inspectorate of Declaration and Audit of Assets.
03/21/2014
The Commissioners of HM Revenue & Customs v. Executors of Lord Howard of Henderskelfe - Withers
The Court of Appeal have dismissed HMRC’s appeal and confirmed that the owners of the famous painting of Omai by Sir Joshua Reynolds were exempt from Capital Gains Tax (‘CGT’) on its sale in 2001 for £9.4 million.