03/17/2014
Weavering Founder Must Face Trial, Judge Rules
Accused hedge fund fraudster Magnus Peterson won’t be getting off on at least one technicality.
Legal,Regulation,Tax & Compliance
03/14/2014
$50K delivered to your door: a convenience of (illegal) offshore banking
The rich are not like the rest of us, and neither are their offshore bankers.
03/14/2014
Rogue bankers and their bosses face six years bonus clawbacks
Rogue bankers and their bosses will have to hand back bonuses up to six years after they have been paid, under tough new Bank of England proposals designed to curb City excesses.
03/14/2014
Tax law to force US expats to seek new investments
The looming implementation of the Foreign Account Tax Compliance Act (FATCA), a law designed as a tool to counteract tax evasion, is prompting a growing number US expatriates to look for tax efficient investment options.
03/13/2014
Bermuda signs MOU with German financial regulator - Appleby
With that signing, Bermuda has signed MOUs with 27 European member states
03/13/2014
In ‘Frustrating’ Tax Evasion Probe, DOJ Secures Plea
A former banker with Credit Suisse Group AG pleaded guilty today to conspiring to defraud the Internal Revenue Service and admitted that superiors knew of efforts to hide money for U.S. customers.
03/12/2014
Finra issues bitcoin investor alert
The Financial Industry Regulatory Authority issued a new investor alert called Bitcoin: More than a Bit Risky to caution investors that buying and using digital currency such as Bitcoin carry risks.
03/12/2014
Bank deal with Switzerland of no use catching former tax cheats: Treasury
Treasury officials have admitted an agreement with Switzerland to open up its secret bank accounts for scrutiny is powerless in netting tax cheats who have already closed their accounts
03/12/2014
Ex-Credit Suisse banker accused of fraud surrenders, set to aid tax-evasion inquiry
A former Credit Suisse banker surrendered to U.S. authorities Tuesday and plans to plead guilty to fraud charges
03/12/2014
HMRC under fire over plans to force payment of contentious tax
Proposals by HM Revenue & Customs to group together similar tax avoidance cases have come under further fire from industry experts.
03/12/2014
Clients should use charity tax breaks’
Advisers should actively discuss the benefits of charitable giving as part of any tax mitigation strategy
03/11/2014
Congress Urges Department of Justice to Use All Enforcement Tools Necessary to Go After U.S. Taxpayers with Undisclosed Offshore Accounts
Recently, the U.S. Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations held a hearing on the ongoing effort to collect unpaid taxes and penalties on offshore bank accounts.
03/11/2014
Swiss: Money Laundered From Stanford Ponzi Scheme
The office says the investigation since Feb. 2009 is completed and all of the assets remaining in Switzerland will be returned to fraud victims.
03/10/2014
Black money: Swiss exchanging 'lawful' info with India
With India stepping up its pursuit of alleged black money in Swiss banks, Switzerland says it is exchanging information with Indian authorities on all lawful requests
03/10/2014
Americans abroad find citizenship too taxing to keep
If you don't want something, giving it back is often an option
03/10/2014
U.S. judge says RBC liable in Rural/Metro buyout case
A Delaware judge said Royal Bank of Canada should be held liable to former shareholders of Rural/Metro Corp because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator.
03/10/2014
Many HSBC swiss account holders may escape income-tax net
Those Swiss bank account holders who could play the staring out game with tax officials over the past three years may end up having the last laugh.
03/10/2014
Credit Suisse Limbo, Mexico Networks, Fraud Appeal: Compliance
Thousands of Credit Suisse Group AG U.S. clients still don’t know whether tax authorities will learn their identities as prosecutors work to conclude a three-year probe of how the bank helped them evade taxes.
03/07/2014
Bonus rules uncertainty reported as UCITS V draft unveiled
A requirement that managers of UCITS funds take at least 50% of their bonuses in the funds they oversee has created uncertainty in Europe’s asset management industry, though some say the matter has been overblown.
03/06/2014
The ongoing ethics struggle of banks
The Swiss Bank Employees Association has told an uncomfortable truth: it was “generally known” that for many years some of their employers profited from customers’ “tax evasion.”