Managers of Wealth

PRA and FCA welcome Internal Audit guidance

The regulatory authorities welcome the publication, by the Chartered Institute of Internal Auditors, of the guidance

EU plots transatlantic bank regulator

The European Union is to push for an agreement on banking and financial services as a key part of this week’s historic trade talks with the US

US Can’t Keep FATCA Promises, Claim Opponents

Campaigners lobbying against the US Foreign Account Tax Compliance Act

Inquiry into Vatican bank chief dropped

The two directors left the bank on Monday last week after the arrest of a senior cleric who is accused of plotting to smuggle millions of euros into Italy from Switzerland.

Yellow Pages CEO loses $25.4m in 2 days, sues UBS

Although he suffered the losses more than five years ago, and had repaid the debt before last January, Mr Chen regarded this as a breach of contract by UBS.

Banks fear new leverage proposal

Proposals to reform British banking by the Parliamentary Commission on Banking Standards will have a “profound” impact on the industry, the British Bankers’ Association (BBA) has said in its first detailed comments on the report.

Swiss banking industry casts doubt on £3bn tax windfall for UK

He had been banking on it raising £3.2 billion this financial year—money already factored into the budget.

Vatican bank joins global 'fight against money laundering'

THE revelations of wrongdoing currently rocking the Vatican bank couldn't have come at a worse time for the Swiss-born anti-money laundering expert hired to lead the Holy See's push for greater financial transparency.

Withers European and Asian US teams grow

He is currently based in our Singapore office with US partner Jay Krause and UK partners Simon Michaels and Philip Munro.

Swiss tax agreement with UK proceeding on schedule

Under the terms of the agreement UK clients had until the end of May 2013 to decide whether to regularise the past by opting to pay the one-off flat-rate withholding tax or disclosing their assets to the UK tax authorities.

FCA cancels permissions of Edinburgh-based adviser

The final notice said: “As Sovereign is failing, and will continue to fail, to satisfy the threshold conditions, the authority hereby cancels its permission.”

Credit Suisse puts UK tax deal hit at $94m

Swiss bank Credit Suisse said on Friday it sees a maximum hit of 90 million Swiss francs ($94.1 million) from a British-Swiss tax deal aimed at sweeping Swiss banks clean of undeclared money held in accounts of UK clients.

Germany strikes pact with U.S. to fight tax evasion

Germany approved new legislation on Friday that will assist the United States in cracking down on tax evasion by its citizens, joining a series of countries to strike such deals with Washington.

Commerzbank Investigated for Possible Swiss Reporting Breach

Commerzbank AG (CBK), Germany’s second-biggest bank, is being investigated by Switzerland’s market regulator over the possible breach of reporting obligations for two structured products.

Rockwell Olivier continues expansion adding private client services in Melbourne

Rockwell Olivier (Melbourne) is expanding its team capabilities at a rapid rate with the introduction of various industry practices

Kerviel appeal thrown out

Kerviel is trying to overturn his conviction and jail sentence

Leading international law firm picks McKinsey accountant as first-ever COO

Accountant Rick Baumgartner will join on 9 September following a string of moves by the City firm

Switzerland to help banks avoid U.S. tax charges

The government will have to be careful about what data it authorizes banks to pass to the U.S. authorities

HSBC wins OK of record $1.92bn money-laundering settlement

A federal judge has approved HSBC Holdings Plc's record USD 1.92 billion settlement with federal and state investigators of charges that it flouted rules designed to stop money laundering and thwart transactions with countries under US sanctions

Barclays CEO: We Aren't at Odds With Regulators

Barclays CEO Antony Jenkins has denied any conflict between his bank and its regulators

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