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,
Legal,Regulation,Tax & Compliance
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.
11/27/2013
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.
11/27/2013
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.
11/26/2013
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.
11/26/2013
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.
11/26/2013
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.
11/25/2013
FCA Slaps Outsourced Wealth Manager With £900k Fine
Wealth manager failed to adequately protect client money, according to notice published by the regulator.
11/25/2013
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.
11/24/2013
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
11/24/2013
Ireland Should Help Tackle Scourge of Tax Dodging
The Coalition has no plans to introduce a public register of true owners of companies.
11/24/2013
US Expats Need to Research Tax Laws Before Relinquishing Passport
Being an American abroad can be difficult.
11/23/2013
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.