09/24/2013
Clifford Chance takes top gong at The Lawyer Management Awards
Global head of business transformation Oliver Campbell and his team were rewarded for radically improving efficiencies of legal services delivery.
Legal,Regulation,Tax & Compliance
09/22/2013
Draft Commission Regulations for Money Market Funds - Withers
Click below for full document
09/22/2013
FATCA update for fiduciaries - Withers
Trusts covered by an applicable IGA will be subject to home country implementing legislation.
09/22/2013
Osborne’s Swiss tax raid revealed as £2bn flop
British residents with Swiss assets were hit with a one-off levy of between 21% and 41% in May, while a further withholding tax on future gains and income of up to 43% will be applied annually.
09/22/2013
FCA to up Absolute Return disclosure demands
They must also emphasise there are no guarantees a positive return will be achieved over any time period.
09/22/2013
DFSA Slaps Fine on Former Private Banker
He also restricted from performing financial works for a period of six years
09/22/2013
Ex-BNP Paribas Private Banker Fined by Dubai Regulator
"It's a pretty strong move by the regulator and shows they are getting more serious now in protecting client interests. Previously, these events wouldn't be made public," said one asset management source, who declined to be identified
09/22/2013
Smith & Williamson celebrates double win at STEP Private Client Awards 2013/14
Smith & Williamson, the accountancy and investment management group, has been named Accountancy Team of the Year and Investment Team of the Year at the STEP Private Client Awards 2013/14.
09/21/2013
US introduces new tool to combat tax evasion: a voluntary disclosure programme…for banks
There is no question that the deal reached by the US and Swiss governments that resulted in this programme will have a deeply–resonating impact on the Swiss private banking industry
09/19/2013
Sitting comfortably – Swiss lawyers benefit as Gnomes of Zurich come under attack
So where does this leave Switzerland's legal powerhouses?
09/19/2013
FCA set to take action on disclosing PI shortfalls
The FCA is set to crack down on the lack of disclosure of shortfalls in professional indemnity insurance among advisers and wealth managers
09/19/2013
Law Firm Use of Service Companies Faces Scrutiny in Tax Avoidance Clampdown
The use of service companies by limited liability partnerships could be outlawed in the UK Government's latest clampdown on tax avoidance.
09/18/2013
Morgan Flattened by Whale
It is hard to know where to begin in describing the savage indictment by regulators in the US and UK of how JP Morgan Chase came to lose a breathtaking $6.2bn from the notorious "London Whale" trades.
09/17/2013
UBS Securities Japan Must Pay $100 Million in Libor Case (3)
A Japanese unit of UBS AG (UBSN), Switzerland’s biggest bank, was ordered to pay a $100 million fine as part of a global resolution of allegations that it manipulated benchmark interest rates.
09/14/2013
Prominent Hedge Fund Attorney Joins Murphy & McGonigle
Her practice focused on enforcement defense and regulatory counseling of financial services firms.
09/14/2013
Government tax adviser quits after talk on how to keep money out of George Osborne's 'grubby mitts'
He stepped down after he was recorded outlining the advantages of planning tax
09/14/2013
Wealth manager fined over failures
Its failures resulted in an unacceptable risk of Axa selling products which were unsuitable for its customer
09/14/2013
Swiss banks Demand Proof French Clients Not Dodging Tax
At least two Swiss banks are now asking French clients for proof they are not dodging tax
09/13/2013
Lib Dems Plan 'super' Mansion Tax for London
According to the Evening Standard, party president Tim Farron has proposed those with property and wealth exceeding £2 million could pay a higher levy than those caught in the original mansion tax net.
09/12/2013
Brussels Treading Difficult Line in Tackling Tax Evasion
But the news that the European Commission has launched a probe into the tax activities of some member states, including Ireland, has added a fresh element to proceedings.