Managers of Wealth

SEC Fines Oppenheimerfunds $35M Over Misleading Statements

Oppenheimer agreed to pay more than $35 million to settle the SEC’s charges.

Madoff trustee files many new lawsuits

Irving Picard, the trustee, filed complaints seeking a respective $354.9 million and $179.4 million from Swiss private banks EFG Bank SA and Lombard Odier Darier Hentsch & Cie

India, Bahrain Sign TIEA

The deal was inked by India's Minister of State for Finance (Expenditure and Financial Affairs) Shri Namo Narain Meena and Bahrain's Minister for Transportation H.E. Kamal Ahmad.

Barclays staff and top Italian banker on trial over 'tax fraud

He staged a comeback in banking earlier this year as chairman of Banca Monti dei Paschi di Siena.

SNB Hint of Capital Controls Is No Empty Threat, Sarasin Says

Pressure on the SNB to resort to unorthodox measures to defend its limit of 1.20 francs per euro could be mounting as the escalating euro-area debt crisis prompts investors to seek the Swiss currency as a safe haven.

Swiss business lobby seeks unity on SNB FX cap

Ex UBS CEO said at weekend he wanted SNB to end cap

Western banks 'reaping billions from Colombian cocaine trade'

While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits, a study claims

Prosecutor in Swiss bank cases resigns

Kevin Downing, 46, who has led agency criminal probes of the Swiss banking industry, and earlier of banks and accounting firms, is leaving to join a law firm, the source said.

Ex-UBS Client pleads guilty in Offshore Tax case

He agreed to pay a civil FBAR penalty of $5.75 million as well as taxes due of $312,803.

Wealthy clients turned tables on UBS and staff?

Ex-UBS employees, including former Managing Director Sachin Karpe, are accused of unauthorised transactions on 39 client accounts, of which 21 reported substantial losses.

Commerzbank appeal on bonus case refused

The High Court judge ruled earlier this month ruled in favour of the of the 104 former Dresdner Kleinwort bankers who sought a legal battle with Commerzbank over unpaid guaranteed bonuses that had been promised to them shortly before the investment bank w

FSA fines Scottish wealth manager £60k for Ucis mis-selling ‎

He advised 57 of his customers to invest in UCIS, 14 of whom also invested in other non-mainstream investments.

Swiss May Set Capital Controls If Euro Collapses

Jordan said the SNB will continue to defend this level with utmost determination, even under very difficult circumstances.

France Mulls Wealth Tax Reforms

Despite François Hollande’s pledge to carry out a sweeping reform of wealth tax in France in 2012, to return to the old wealth tax scale, in force prior to the 2011 reform, no modifications will reportedly be made to the existing tax rates th

Standard Chartered banker freed from detention in China

A StanChart spokeswoman said Ms Wu Yidian Eden, a naturalised Singapore citizen, has been released from custody. The bank is not being investigated and Ms Wu remains an employee.

Tax could cost UBS up to 10 percent of Europe assets

Zeltner said UBS had assets under management of over 300 billion francs in Europe, over 170 billion francs in Asia, around 110 billion francs in emerging markets and 130 billion in Switzerland.

Ireland’s oldest stockbrokers ordered to cease trading

The Central Bank alerted the firm last Thursday evening and has since ordered it to stop all regulated activities.

Grant Thornton's role in Tchenguiz case questioned

The Financial Times reported that the SFO had relied heavily upon Grant Thornton for information it used to build its case against Vincent Tchengui and his brother Robert, while the accounting firm was acting as administrator for Kaupthing.

Ogier acts for Cantor Fitzgerald

ISF Ltd will add value for Cantor Fitzgerald's global bank relationships while providing an attractive investment for their fixed income clients.

India mulls one-time amnesty for tax evaders

In a plan submitted to the Indian Parliament Monday, the government also said it was considering allowing undeclared gold to be deposited with banks.

Legal,Regulation,Tax & Compliance