Managers of Wealth

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.

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.

Tax threat for buy-to-let

A controversial report last week sought to put a figure on the tax reliefs claimed by landlords.

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.

Cayman Signs 32nd TIEA Agreement

Caribbean Journal is reporting that The Cayman Islands has signed a tax information exchange agreement with the Republic of Malta.

Ex-Banker to Answer Charges in U.S.

The legal case is the latest turn in the U.S. probe of American tax evasion in Switzerland.

Gold price-fixing scandal: UK's FCA scrutinises $20 trillion gold market

The UK Financial Conduct Authority is scrutinising how prices are set in the $20 trillion gold market.

UBS Paris headquarters raided by French authorities in tax evasion probe

UBS said it regarded the raid as "normal" and will continue to cooperate with French authorities, which have also visited the bank's offices in Strasbourg and Lyon as part of the ongoing investigation.

Tribunal upholds £100k IFA fine over Gtep advice

The FCA has won a legal battle to fine Westwood Independent Financial Planners £100,000 over suitability failings in geared, traded endowment policy sales.

FCA Slaps Outsourced Wealth Manager With £900k Fine

Wealth manager failed to adequately protect client money, according to notice published by the regulator.

PwC Finds Fund Firm Compliance Heads Working 12-hour Shifts

A PwC survey has found a third of UK asset management firms are unsure they have the resources to cope with growing regulatory demands.

Automatic Tax Info Exchange to Hurt Fund Flows: Swiss Banks

Swiss banks expect a significant decline in quantum of foreign money managed by them going forward

Ireland Should Help Tackle Scourge of Tax Dodging

The Coalition has no plans to introduce a public register of true owners of companies.

US Expats Need to Research Tax Laws Before Relinquishing Passport

Being an American abroad can be difficult.

Penniless' Man Is Worth $65 Million, Court Rules And Must Give Wife Half

One of Britain’s longest and most bitter divorce battles culminated on Friday with a High Court judge branding a well-connected millionaire a liar and his ex-wife a conspiracy theorist.

Europe’s Financial Transaction Tax Faces Challenges, PwC Says

Europe’s planned tax on financial transactions may fail to reduce market risks and could increase household costs

Ex-Credit Suisse Trader Gets 30 Months in Jail

A former top Credit Suisse trader was sentenced to two and a half years of prison.

Four tax havens join India in fight against stash funds

The Global Forum brings together 121 countries and jurisdictions for wide-ranging discussions on transparency and international tax co-operation, and is the largest such group worldwide. Its sixth meeting has brought together more than 200 delegates from

Switzerland seeks EU deal on tax evasion

Switzerland wants "to settle the past" with the EU and begin settling disputes over Swiss bank accounts hidden from European tax authorities

Switzerland Under Tax Pressure Ahead Of Jakarta Global Forum

The Confederation appears to be caught between a rock and a hard place.

Legal,Regulation,Tax & Compliance