Managers of Wealth

Libor interest rate riggers 'should face prosecution'

A report into the Libor rate rigging scandal says the system is broken and suggests its complete overhaul, including criminal prosecutions for those who try to manipulate it.

Standards Commission told to set up bankers’ qualification

Mike Dailly from the Financial Services Consumer Panel argued this would also make it easier to deal with poorly behaved bankers.

Former Credit Suisse banker arrested

"He was taken into police custody and extradition proceedings will commence at Westminster Magistrates Court tomorrow," a police spokesman said.

Adjustments to FSA’s liquidity and capital regime for UK banks and building societies

The Financial Policy Committee has today published the record of its meeting held on 14th September - alongside this the FSA has published more details of the adjustments made to the liquidity and capital regimes for UK banks and building societies.

Baker Tilly appoints new private client tax associate director

He most recently worked for specialist tax practices linked to the Lloyd’s insurance market.

Alexander to end contracts for tax evaders

“Taxpayers’ money should not be funding tax dodgers,” he told the Liberal Democrat conference. “So I have tasked HMRC and the Cabinet Office to come up with a workable solution to this problem and we will set out more details later

RBS Instant Messages Show Libor Rates Skewed for Traders

Royal Bank of Scotland Group Plc trader Tan Chi Min told colleagues the firm was able to move global interest rates, according to electronic messages the bank is trying to make secret.

Rajiv Goel Sentenced To Probation And Fines

The US federal court in New York on Monday sentenced him to two years of probation, a fine of $10,000 and ordered him to forfeit $266,000.

Tax taskforce will hunt rich targets abroad

‘Shady’ tax dodging millionaires who stash their wealth offshore will face a government crackdown, Vince Cable will say today.

RBS Managers Said to Condone Manipulation of Libor Rates

Royal Bank of Scotland Group Plc managers condoned and participated in the manipulation of global interest rates, indicating that wrongdoing extended beyond the four traders the bank has fired.

Clegg outlines proposed tax changes

Nick Clegg pushes his wealth tax at the Liberal Democrats conference

Clegg Seeks More U.K. Tax on Unearned Wealth, Top-End Property

“I want to reward people who put in a proper shift, not those who sit on a fortune; people for whom a bonus means a few extra quid at Christmas, not a million-pound windfall,” Clegg said.

Make UK a tax haven to attract investment from millionaires, urges Tory treasurer

Lord Fink is director of investment firm ISAM, based in the Cayman Islands, a British overseas territory in the Caribbean.

FSA demands new legal powers after Libor manipulation scandal

The Financial Services Authority is proposing tough new powers to tackle banking malpractice in the wake of the Libor-rigging scandal.

Cirencester legal practice bolsters private client team

Managing partner Michael Grenfell said the move would support the firm’s expansion.

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

Legal,Regulation,Tax & Compliance