12/10/2013
Barclays' response to ActionAid campaign
Barclays shares ActionAid’s belief that companies and individuals should pay the right amount of tax in the countries in which they generate revenue.
Legal,Regulation,Tax & Compliance
12/10/2013
Swiss banks agree to US tax deal, more expected to follow
The first Swiss banks have signalled their readiness to work with U.S. officials
12/09/2013
Changes made to Charity Commission Annual Return- Withers
Under the new annual return regime, registered charities will be obliged to provide additional key information to the Commission
12/09/2013
Treatment of sovereign risk in the Basel capital framework
It is sometimes asserted that the Basel capital framework prescribes a zero risk weight for bank exposures to sovereigns.
12/09/2013
Regulators still struggling to balance protection with growth, according to financial service firms
Overall, 49% thought that no regulator had succeeded in this respect, with a majority of respondents in the US and the UK holding this view.
12/09/2013
Swiss Bank Valiant is First to bow to U.S. Tax Probe
Valiant Holding AG on Monday became the first Swiss bank to say it would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts.
12/09/2013
G & E Wealth Management targeted by scammers
York-based firm G & E Wealth Management is the latest to have been targeted by scammers impersonating the company's advisers, the Financial Conduct Authority has warned.
12/07/2013
Credit Suisse Said Talking to Finma on Legal Risks Capital
Credit Suisse Group AG, the second-largest Swiss bank, is in discussions with its regulator that may lead to a demand for more capital tied to litigation risks
12/04/2013
How to avoid the bonus cap - FCA update for investment firms that may qualify to remain under BIRPU rules from 1 January 2014 - Withers
If a firm can retain its BIPRU classification it would avoid the application of the controversial bonus cap provisions which are part of CRD IV, (see Regulatory Watch, October 2013).
12/04/2013
The FCA's focus on integrity and in particular investment managers - Withers
On 14 November 2013 the FCA’s chief executive gave a speech which focused on conduct and ethics within firms, which he said poses significant challenges for investment managers in particular.
12/04/2013
Manx Court Rules on Bank Confidentiality
Some 140 bank customers could be affected by a Manx high court ruling on tax disclosure with the Irish Revenue.
12/03/2013
Asset management compliance has just 30% physical presence
Just under a third of compliance functions in surveyed UK asset management firms have staff who sit with the rest of the business,
12/03/2013
EU fines banks over rate-rigging
The cartels operated in markets for financial derivatives, which are products used to manage the risk of interest rate movements.
12/01/2013
Bankers Association issues recommendations regarding tax compliance for cross border business
The strategic objective of the banks in Switzerland, however, remains unchanged: they have been committed to a tax compliant financial centre for several years and want to acquire and manage only taxed assets.
12/01/2013
France Dragging Feet On EU Tax-Evasion Fight
France has been a vocal supporter of EU attempts to fight tax evasion
12/01/2013
BVI and Gibraltar sign tax info agreements with UK
The British Virgin Islands, Gibraltar, Montserrat, the Turks and Caicos Islands and Bermuda have signed tax information sharing agreements with UK Government.
11/30/2013
No Penalties Planned in Swaps Probe
Credit-default swaps are insurance-like contracts used by traders and investors to bet on the creditworthiness of companies and countries.
11/30/2013
Bank Leumi has increased its provision for the investigation by the US authorities into its activity in Switzerland
In 2012, the bank made provisions totaling NIS 340 million for this contingency, and altogether it has provided NIS 530 million.
11/30/2013
Tax threat for buy-to-let
A controversial report last week sought to put a figure on the tax reliefs claimed by landlords.
11/28/2013
Wealth Adviser Guilty of Murdering Client and £343k Fraud
A financial adviser has been found guilty of murdering a client and defrauding him of £343,000.