08/19/2013
Italy deploys computer robot against tax cheats
Italy has one of Europe’s biggest grey economies and highest levels of cash transactions, making tax evasion a constant problem despite repeated crackdowns.
Legal,Regulation,Tax & Compliance
08/19/2013
SEC charges ex-Oppenheimer fund manager with misleading investors
The company earlier this year agreed to settle related charges with the SEC and pay $2.8 million.
08/18/2013
More investment in data governance needed in asset and wealth management - Study
More investment in data governance is needed in companies specialising in asset and wealth management
08/18/2013
DFMs criticised for not submitting performance data
Aj Somal, certified financial planner at Aurora Financial Planning, said some discretionary managers were shown “in a bad light” by not submitting comparative performance data.
08/18/2013
Billionaire banned from financial sector for five years
While the ban would put at least a temporary end to Falcone's hedge fund career, the consent order detailing the agreement does not say Falcone is barred from being a director or officer of a public company.
08/17/2013
HMRC Change QROPS Reporting System
There was industry concern that any changes brought in would adversely affect the industry
08/15/2013
FCA writes to 11 groups as it launches fund charge probe
They will range from global asset managers to boutiques
08/15/2013
Swiss Lawyer’s Guilty Plea Discloses Help in U.S. Tax Probe (3)
Paltzer is cooperating with U.S. authorities in their broader investigation of how foreign banks and advisers helped American clients evade taxes, his lawyer,Thomas Ostrander, said.
08/15/2013
Porche Faces New Hedge Fund Cartel Claim In Legal Battle
After other investors lost two similar claims at a German tribunal last year, the funds added antitrust claims against Porsche to their suit, forcing a move to a court that specializes in cartel suits.
08/14/2013
Swiss open door to helping tax crackdowns spurred by stolen data
Data leaks have become big business ever since 2008
08/14/2013
AQR and Stress Test Requirements to Pose Challenges for European Banks - Moody’s
Moody's Analytics has released two reports outlining the challenges associated with the upcoming Asset Quality Review (AQR) and subsequent stress test requirements for European financial institutions.
08/14/2013
Lady Victoria Normanton Sues Saanen Bank For 'Negligence' After £93,000 E-mail Fraud
A Swiss bank is being sued in the English courts by the glamorous British ex-countess Lady Victoria Normanton for ‘negligent’ handling of her finances which led to £93,000 (CHF: 132,000) being stolen from her bank account.
08/13/2013
Norwegian Fund Manager Talks Tax Evasion
The chief executive of a Norwegian oil fund has said that the issue of tax evasion could become an area of focus in the future
08/13/2013
Chartis Report Outlines Financial Organizations’ Top Global Compliance, Risk and Business Performance Challenges
Capital adequacy, stress testing & internal risk models among top regulatory pressures; Report says flexible technology key to addressing evolving requirements
08/13/2013
Expats advised to prepare for new tax sharing regime in European Union
With the amount of financial information to be shared between European Union countries set to significantly increase over the next few years
08/13/2013
Magnusson names former Eversheds partner as Copenhagen head
He will draw on his experience gained during a 2,5 year tenure as the Senior Office Partner for Eversheds’ Copenhagen office.
08/13/2013
Feds charge ex-JPMorgan bankers in 'London whale' case
Federal prosecutors in Manhattan have criminally charged two former JPMorgan bankers for their alleged role in the “London whale” trading loss that rocked the investment bank last year and led to a very public overhaul of its senior management
08/12/2013
Singapore's banking system able to withstand adverse scenarios
Singapore's banking system is found to be sound and able to withstand adverse scenarios after a stress test exercise
08/12/2013
Russell-Cooke strengthens private client practice
Russell-Cooke has strengthened its Private Client practice with the hire of its 8th Partner
08/11/2013
FCA concerned about exec-only commission model
The board was discussing "whether the continuation of commission payments for non-advised retail investment sales created potential risks".