06/18/2012
Taxation of high value residential real estate
The consultation paper “Ensuring the fair taxation of residential property transactions” has been published by HM Treasury.
Legal,Regulation,Tax & Compliance
06/18/2012
A General Anti-Abuse Rule - By Withers Worldwide
The consultation document “A General Anti-Abuse Rule” has been published by HM Treasury.
06/15/2012
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.
06/15/2012
Former billionaire sentenced to 110 years in prison
The sentence was handed down Thursday by U.S. District Judge David Hittner in Houston.
06/15/2012
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
06/15/2012
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
06/14/2012
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.
06/13/2012
U.K. Says 2,400 People Sign Up for Liechtenstein Tax Agreement
Both nations will sign a double taxation agreement Monday.
06/13/2012
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.
06/12/2012
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.
06/12/2012
Leading International Financial Centre law firm Expands With New Partners
Eleven attorneys promoted to partner across international network
06/12/2012
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.
06/11/2012
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.
06/11/2012
Liechtenstein Informs Bank Clients of U.S. Tax-Evasion Request
Liechtenstein’s second-biggest bank, also known as LLB, is one of 11 financial firms, including Credit Suisse Group AG and Julius Baer Group Ltd., being investigated as part of a U.S. probe of offshore tax evasion.
06/11/2012
Liechtenstein Informs Bank Clients of U.S. Tax-Evasion Request
Liechtenstein’s second-biggest bank, also known as LLB, is one of 11 financial firms, including Credit Suisse Group AG and Julius Baer Group Ltd., being investigated as part of a U.S. probe of offshore tax evasion.
06/08/2012
London whale' losses could hit JP Morgan bonuses
Giving evidence to the Senate Banking Committee, Thomas Curry, the US Controller of the Currency, said the body would pursue 'all appropriate measures' if corrective action was necessary.
06/08/2012
Swiss banks reject Madoff trustee clawback claim
Swiss private bank Lombard Odier and regional savings bank Banque Cantonal Vaudoise both said they will contest the claims of trustee Irving Picard, who is seeking $179.4 million and around $10 million respectively from the banks.
06/08/2012
US groups tussle over investment adviser oversight
Two sides in an industry divided over how to oversee investment advisers faced off on Wednesday before U.S. lawmakers considering a bill that would ramp up protections for investors.
06/07/2012
Reykjavik Court Rejects Credit Suisse Kaupthing Priority Claim
Kaupthing failed with the rest of Iceland’s largest lenders in October 2008 after it was unable to secure short-term financing.
06/07/2012
High Court quashes £100k FSA fine against ex-banker
The claimant, who has been granted anonymity, brought the judicial review proceedings to challenge a decision made by the Regulatory Decisions Committee to issue a decision notice against him in October 2010.