Managers of Wealth

UBS, Credit Suisse Payout Hopes Ebb as Regulators Tighten Leash

Prospects for fatter dividend payouts from Switzerland’s biggest banks are receding as Swiss authorities ratchet up capital demands.

UBS 'not responsible' to shareholders in rogue trader claim

US shareholders, including two New York based pension funds, claimed UBS officials and then-chief executive Oswald Gruebel had misled investors by frequently touting the bank’s internal controls prior to Adoboli’s fictious trades being reveale

UBS chief says Swiss plan to raise leverage ratio is unrealistic

Switzerland's plan to raise the leverage ratio required of banks is unrealistic, the chief executive of top Swiss bank UBS said in a newspaper interview published on Sunday.

Belgium probes murky world of cash, diamonds and banks such as HSBC

Those murky ties have drawn unwanted attention to Omega Diamonds, one of the largest importers of African diamonds, which faces fines of up to US$6.3 billion in a customs-fraud trial that started last month.

Partners at KPMG see 23 Per Cent Rise in Pay

Partners at KPMG have seen their earnings soar to £713,000 each on average

Tax Evasion and Avoidance Finally Came Under Scrutiny This Year

Despite a number of encouraging breakthroughs on tax dodging in 2013, much work lies ahead if tax justice is to become a reality

Standard Chartered forced by Bank to strip top exec of risk role

The Bank of England has taken unprecedented action to strip a senior banker of key responsibilities due to concerns over potential conflicts.

Finance watchdog approves Vatican reforms, urges bank oversight

It advocates stronger controls on the Vatican's bank - whose main purpose is to provide financial services for Vatican employees and religious groups - and another financial office.

Madoff's Ponzi Scheme Taught Us 8 Unforgettable Lessons About Spotting A Fraud

Five years ago today, Bernie Madoff was arrested for running the largest Ponzi scheme.

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.

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

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

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.

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.

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.

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.

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

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).

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.

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.

Legal,Regulation,Tax & Compliance