Managers of Wealth

Hong Kong property tycoons are charged with corruption

Sun Hung Kai Properties co-chairmen Thomas and Raymond Kwok, two of Asia’s wealthiest men, were among five people charged with eight offences, an official statement said.

CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Relief

On February 9, 2012, the CFTC issued a final rule regarding changes to Part 4 of the Commission’s regulations involving registration and compliance obligations for CPOs and CTAs.

German tax officials target clients of British private bank Coutts' Swiss unit

The Financial Times Deutschland reports that officials in the western state of North Rhine-Westphalia paid 3.5 million for a CD containing the names of some 1,000 rich German clients.

Four charged over Rowan Dartington transactions

Avon and Somerset police have charged four people with money laundering offences in relation to suspicious transactions at Rowan Dartington.

UBS in line of fire over Libor moves

The US Justice Department, meanwhile, has identified potential criminal wrongdoing by big banks and individuals at the centre of the scandal.

Op-Ed: Switzerland stung by allegations of Indian black money

The bilateral treaty between India and Switzerland, the Double Taxation Avoidance Agreement (DTAA), provides the framework within which Indian authorities can seek administrative assistance against tax evasion or fraud.

German and French authorities raid Swiss banking majors

Last year Credit Suisse paid €150 million ($183.83 million) to German tax authorities to settle an inquiry over allegations the bank and its employees helped Germans dodge tax.

Lawyer warns Coutts AIG clients: this may be your only offer

Robert Morfee, a lawyer from Clarke Willmott who specialises in investment disputes and has been working with a number of clients who were invested in the AIG fund, has warned Coutts’ clients who are receiving offers that they should be mindful of

European tax probes are headache for Swiss banks

At the same time, German newspaper the Handelsblatt has reported that up to 7,000 Credit Suisse clients are being targeted by a separate tax evasion investigation in Germany.

Libor price fixing case is getting work for lawyers

In the case of Barclays and UBS, multiple law firms are representing individuals who have worked at those banks, sources said.

UBS In Bordeaux Said To Have Been Raided In French Tax Probe

The charges were the first brought in the probe, which was opened in April after a preliminary inquiry by the French customs service into a February 2011 complaint by the Prudential Control Authority, France’s banking regulator.

Ex-SJP adviser wins Mail on Sunday libel case

A former St James’s Place adviser has been awarded “substantial damages” and legal costs after the Mail on Sunday newspaper alleged the adviser had stolen £5m from clients.

Credit Suisse German Clients Homes Raided by Tax Agents, HB Says

The investments averaged about 500,000 euros with individual cases of 12 million euros and more, the newspaper said.

Handler Thayer Named Best Private Client Law Firm in North America

"The Family Office Review Awards recognize and honor those who are the best of the best inside the North American family office industry."

HSBC To Apologize At Hearing On Money Laundering, Memo Shows

U.S. prosecutors may take criminal or civil enforcement measures involving the London-based bank amid an investigation into terrorist funding, HSBC said in February.

Credit Suisse exempted from German tax prosecution

The newspaper referred to so-called Bermuda products designed as insurance-style instruments to avoid tax.

Swiss HSBC account holders offered India amnesty, says official

India joins countries including the UK and the US in cracking down on rich people who haven’t disclosed offshore funds amid probes into money laundering and tax evasion.

Email cache shows depth of Whitehall fears over Barclays Libor submissions

In an email dated October 22, 2008, from Sir Jeremy Heywood, then principal private secretary to Gordon Brown, to Paul Tucker, then head of markets at the Bank of England, he asks why Barclays is paying “ABOVE Libor” to fund in the sterling mo

Mobile operators pressured for private client data

Representative Edward Markey on Monday released data from the companies showing more than 1.3 million requests for cell phone records last year.

US Senate panel plans HSBC money laundering hearing

The panel has been investigating HSBC for months as part of an effort by the Senate panel to probe shadowy money flows.

Legal,Regulation,Tax & Compliance