Managers of Wealth

Swiss and US move forward on tax compliance

The US legislation has worried foreign banks that have American clients as banks face penalties if they refuse to give the United States certain client information required under Facta.

Ireland fines UBS for lack of controls

The €65,000 penalty handed out to the Swiss bank’s unit is part of Ireland’s broader effort to strengthen oversight of the banking sector after the financial collapse that forced the country to seek a €67.5bn bailout from the EU and

International law firm to create 75 new Dublin jobs

This is as a result of growing demand for both its international legal services and the fiduciary and fund administration services provided by its affiliate, MaplesFS, it said.

JPMorgan Wins U.K. Ruling on Document Request for Milan Case

JPMorgan Chase & Co., UBS AG and two other banks won an attempt to block U.K. prosecutors from seizing documents that Italian authorities sought to use at a criminal trial over derivatives, a London judge ruled today.

FSA refuses to reveal the identity of Mr X

Mr X, as the person has been referred to by tribunal, denied he owned an account with the UK-based UBS Wealth Management, called Customer A account, used by some UBS officials to make large-scale unauthorised transactions.

Liechtenstein Landesbank to Turn Over Client Names

Liechtenstein, a country known for its banking secrecy laws, recently agreed to allow its second largest bank, Liechtensteinische Landesbank AG, to turn over U.S. client data to the Internal Revenue Service (IRS) and the U.S. Department of Justice (DOJ).

SFO set to drop its Vincent Tchenguiz probe

The SFO is not expected to drop its investigation into Vincent’s younger brother Robert at this point.

Taxation of high value residential real estate

The consultation paper “Ensuring the fair taxation of residential property transactions” has been published by HM Treasury.

A General Anti-Abuse Rule - By Withers Worldwide

The consultation document “A General Anti-Abuse Rule” has been published by HM Treasury.

HMRC Target Buy to Let Landlords

The taskforces were launched as a result of the government’s £917 million spending review investment to tackle tax invasion, avoidance and fraud in 2011.

Former billionaire sentenced to 110 years in prison

The sentence was handed down Thursday by U.S. District Judge David Hittner in Houston.

CI law firm facilitates estate planning debate in Singapore

"We are well established in the Channel Islands and have been named the fastest growing offshore law firm - but as we are new to Singapore it has been mutually beneficial to facilitate debate and discussion around regional issues with industry leader

ABN Amro Asks Judge To Toss Madoff Suit

ABN Amro Bank Ltd. asked a judge to dismiss a lawsuit by the liquidator of Bernard Madoff’s firm, saying it lost $490 million in the Ponzi scheme, out of $725 million it invested. As one of the con man’s biggest losers, “it is simply not

Law abiding British expats have nothing to fear from France’s trusts clampdown

A report in the British media that claims the 200,000 British expats in France are in a frenzy as they face a shock stealth tax on Friday has been questioned by the world’s largest independent financial advisory firm.

U.K. Says 2,400 People Sign Up for Liechtenstein Tax Agreement

Both nations will sign a double taxation agreement Monday.

French farce as British expats face a shock £8,000 fine

The French Government is using a stealth ploy to squeeze extra cash from foreigners to help pay off its whopping €1.7 trillion national debt.

Compliance group warns of FSA visits over fund switching

TCC client services director Ian Stott said advisers should expect visits from the Financial Services Authority (FSA) as it hones in on fund switching once it has finalised guidance on centralised investment propositions.

Leading International Financial Centre law firm Expands With New Partners

Eleven attorneys promoted to partner across international network

UBS faces criminal complaint over Malaysia ties

UBS has declined to comment on the accusations. UBS spokesman Yves Kaufmann said the bank complied with the legal requirements in the markets where it operated.

Swiss finance minister hints at agreement with US over bank accounts

In an interview with the Basler Zeitung newspaper, finance minister Eveline Widmer-Schlumpf indicated that Washington was keen on ending the spat, which is part of an American attempt to crack down on wealthy citizens using Swiss banks to dodge taxes.

Legal,Regulation,Tax & Compliance