08/13/2012
Asia steps up fight against money laundering
US regulators are getting tough over money laundering activities and central banks in Asia are also monitoring developments closely.
Legal,Regulation,Tax & Compliance
08/13/2012
UBS: Is 'Fiscal Cliff' Another 'Y2K'?
However, UBS economist Drew Matus wonders if we're blowing fears out of proportion.
08/12/2012
UBS denies report it abets German tax evasion
The bank doesn't provide tax services to clients, UBS spokesman Dominique Gerster told Dow Jones Newswires.
08/12/2012
French Constitutional Court Says Wealth Tax Rise Must Be Interim
The country’s parliament approved the increase last month as part of a supplemental budget.
08/12/2012
Drafts of FATCA Model Intergovernmental Agreements Released
The US, UK, France, Germany, Italy, and Spain have jointly issued drafts of two versions of model agreements implementing FATCA through a process of intergovernmental information exchange (the “Model Agreements”).
08/08/2012
Cayman Islands Scraps Plan To Tax Wealthy Expats
On Monday, Cayman Islands Premier McKeeva Bush told the press that the tax plan was “off the table and will not be implemented,” claiming that alternate sources of revenues had been already identified.
08/08/2012
Swiss banks face slow death as taxman chases undeclared assets
#Western Europeans may pull as much as $139 billion, or 15 percent of their holdings, from Swiss banks, said Herbert Hensle of Cap Gemini. Bank Sarasin & Cie. AG reported last week that private clients withdrew 3 billion francs from Swiss locations in
08/08/2012
UBS staff 'offered protection from prosecution in Libor probe'
US prosecutors have offered several former junior UBS employees protection from criminal charges in exchange for their cooperation with their expanding probe into alleged Libor manipulation, according to reports.
08/08/2012
Fraud inquiry threat to Barclays over Arab bailout
Serious Fraud Office collaborating with City watchdog's investigation into controversial deal
08/07/2012
Standard Chartered US claims puts auditors back in dock
Auditor Deloitte has rejected claims it helped Standard Chartered hide $250bn (£161bn) of illegal Iranian transactions in the latest scandal to embroil the industry.
08/07/2012
Amanda Allen bounced cheque case could affect UAE expats
Case involving a bounced cheque in Abu Dhabi could cause problems for Britons looking to buy property in the UAE.
08/06/2012
Standard Chartered rejects Iranian 'scheming' claims: statement in full
Standard Chartered has firmly rejected claims that it “schemed” with Iran to conduct secret transactions worth $250bn (£160bn). Here is its statement in full.
08/05/2012
Swiss seek U.S. tax deal by year-end, but not at any price
It also wants a deal to shield the remainder of its 300 or so banks from U.S. prosecution.
08/05/2012
US Makes New Request to Swiss for Information on Alleged Tax Cheats
A spokesman for the Swiss Federal Tax Administration confirmed that a request for administrative assistance had been made by the fiscal authorities in the U.S. last month.
08/05/2012
FATCA creates strategic dilemma for wealth managers
The inter-governmental rules were made in conjunction with France, Germany, Italy, Spain and the UK, which have all made reciprocal agreements with the US.
08/05/2012
Fraud Office to be paid 'by results' for Libor probe
The SFO will have to make regular reports to the Treasury on its progress and on likely future cash needs.
08/05/2012
US probe into bank manipulation of silver markets set to be dropped
US regulators have dropped a four-year investigation into manipulation of the silver market, according to reports. The decision, if true, will take pressure off JP Morgan and HSBC who were the main focus of legal complaint that sparked the regulatory pro
08/05/2012
RBS facing US money laundering investigation
The part-nationalised lender made the disclosure in its half year results on Friday, where it reported a loss of £1.5bn in the first six months of 2012 and set aside £125m to cover costs related to the recent IT problems.
08/05/2012
Scandal Erupts at Standard Chartered
It labelled UK-based Standard Chartered a "rogue institution".
08/02/2012
FSA investigates Barclays finance chief over fees in financial crisis fundraisings
The news was revealed in its first-half results in which it apologised for the Libor rate rigging scandal and posted better-than-expected underlying half-year profits of £4.2bn.