Managers of Wealth

IMA publishes final fund fee disclosure guidance

The Investment Management Association (IMA) has issued industry guidance on enhanced disclosure of fund charges and transaction costs incurred by UK-authorised funds.

UBS ignored rules for profit, says "rogue trader" lawyer

Managers at Swiss bank UBS turned a blind eye when traders exceeded their agreed limits as long as the bank was making money from their deals, a lawyer for accused "rogue trader" Kweku Adoboli told a London court on Thursday.

Derivatives industry urges caution on Libor reform

Britain's Financial Services Authority is publishing its recommendations for legal changes to Libor on September 28.

FSA 'knew about Libor probe when approving Bob Diamond's promotion'

When the £290m fine for Libor-fixing was announced in June this year, Diamond was not found to be involved.

UBS Paris offices searched in tax evasion probe

UBS says cooperating with investigation

Planning for the AIFMD: are hedge fund managers fully prepared

The Directive’s requirements will be significant and its implications far-reaching for both EU hedge fund managers and (increasingly over time) non-EU hedge fund managers seeking to raise capital in Europe.

Bern To Vote On Expat Tax Deal

Under the current regime, special tax deals are available for wealthy immigrants to Switzerland

UBS was aware of Kweku Adoboli's billion-dollar trading problems six weeks prior to arrest

UBS was aware of a $3.6bn (£2.2bn) black hole in trading accounts produced by the alleged rogue trader Kweku Adoboli six weeks before he was arrested, a court heard.

Bankers accuse former boss of deceptive conduct

THE former chief executive of St George Bank, Paul Fegan, has appeared in Federal Court to answer claims he engaged in misleading and deceptive conduct while head of the bank in 2008, in the lead-up to the bank's merger with Westpac.

Deloitte announces revenue results of US$31.3 billion

Deloitte Touche Tohmatsu today announced aggregate member firm revenues of US$31.3 billion for the fiscal year ending 31 May 2012, marking the network’s highest revenue ever.

France To Undo Sarkozy's Wealth Tax Reform

Despite having originally planned major wealth tax reforms, the French government is now resigned to the idea of merely re-establishing the previous wealth tax scale of between 0.55% and 1.8%, and to introducing a fiscal cap of 80% of income to accompany

Court says Merrill must pay two former brokers $10 mln

The $10.2 million award to Florida brokers Tamara Smolchek and Meri Ramazio was among the largest of the individual deferred compensation cases brought against Merrill.

Ex-UBS Banker Alleged Attacker Charged

A New York man has been charged with theft and attempted extortion from a former UBS M&A banker, who was tied up at gunpoint during a terrifying home invasion in Bedford Hils, New York, in May.

Tax CDs bring billions for German state

The state of North-Rhine Westphalia has helped Germany recover more than 3 billion euros ($3.9 billion) from German tax evaders after buying compact discs with details of Swiss bank accounts, according to the region's finance ministry.

Europe at loggerheads over banking union

All 27 EU countries must agree on the new system, even though it will only apply to the 17 counties of the eurozone initially.

Robert Tchenguiz bail move signals the end of SFO investigation

Property entrepreneur Robert Tchenguiz has been released from bail, leading to a growing belief that the Serious Fraud Office is preparing to drop its long-running investigation of his business activities.

Partner pay falls at PwC as profits rise

Partners at PricewaterhouseCoopers took home less pay last year, despite the firm posting a 10pc rise in overall profits.

Belgium Remains Attractive Tax Location For Entrepreneurs

There have been renewed calls for the Belgian government to honour its pledge and reform the current system of taxation in Belgium, to remove the current disparity between the taxation of labour and the taxation of wealth, and in so doing shake off the co

Here's The Gut-Wrenching Apology Sent Out By Alleged UBS Rogue Trader Adoboli

Former UBS trader Kweku Adoboli went on trial today for allegedly losing $2.3 billion in rogue trades.

UK-US agreement strengthens UK ability to tackle tax evasion

On September 12, the United States and the United Kingdom governments announced the signing of a bilateral agreement to implement the information reporting and withholding tax provisions within the Foreign Account Tax Compliance Act (FATCA).

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