Managers of Wealth

New UK Non-Dom Scheme Welcomed

The legislation, which came into effect on April 6, has been given a cautious welcome by law firm Boodle Hatfield.

London chases holders of Swiss accounts

From 2013, the so-called “Rubik” deal – judged “fully compliant” with European Union law on Tuesday by the bloc’s taxation commissioner – should forbid such operations, but the accord is open to interpretation.

UBS Unit Will Cooperate With French Tax-Evasion Investigation

Paris prosecutors opened a formal investigation April 12, after conducting a preliminary inquiry with the customs service into a complaint by France’s Prudential Control Authority in February 2011 over the bank’s practices in France.

Austria clinches quick Swiss tax deal to bolster budget

But Austria's deal is far less favourable than those struck by Britain and Germany, which both responded to political pressure by extracting big up-front payments and more concessions from Switzerland.

Central Bank said to buy Anglo Irish Tower

The bank will buy the building on North Wall Quay from the National Asset Management Agency, said the person, who asked not to be identified because the details are private. Anglo

U.S. Senate Rejects Obama’s Wealth Tax Proposal

The U.S. Senate has blocked President Barack Obama’s proposal to raise tax rate on those who earn more than $1 million a year.

Merrill bankers follow Orcel to rival UBS

The defections show how serious a blow the loss of the veteran banker - one of the driving forces behind the breakup of Dutch lender ABN AMRO in 2007 - could be for Bank of America.

Financial reforms: Regulators aim to make ‘middle office’ a safer place

This was illustrated in early April, when the US futures regulator filed a lawsuit against Royal Bank of Canada.

Swiss banks to hand over staff names in U.S. tax row: report

In the latest attempt to end the long-running dispute, Switzerland's Federal Council has now authorized banks to hand over email traffic in connection with such clients to U.S. prosecutors, the Tages-Anzeiger newspaper reported.

Swiss Hedge Fund Regulations to Get Tightened, FT Reports

The regulations were proposed by the Federal Council and must be voted on by the country’s parliament, the newspaper reported.

One in 10 rich 'pay under 20% basic tax rate'

Almost one in 10 people earning more than £10 million a year is paying less than the 20% basic rate of income tax, the Treasury says.

French magistrate to examine UBS charges

An independent French magistrate has been named to examine the commercial practices of Swiss bank UBS AG, financial daily Les Echos reported on Monday.

Schroders produces KIIDs for Luxembourg range before July deadline

The British fund manager has marked 14 May as the day it will produce the information documents for investors - about six weeks before the 1 July deadline set by the European Union for regulated products.

Leading offshore law firm advises Cinven on CPA Global acquisition

The transaction proceeded by way of a Jersey scheme of arrangement and has received the required regulatory approvals and the sanction of the Jersey Royal Court.

International law firm expands Cayman's Private Wealth Practice

He joins Ogier from Gorvins in Manchester, where he was the partner in charge of their wills, trusts and probate team and led a number of client mandates across the trust sector.

Appleby launches new regulatory and financial services team ‎

Appleby (Cayman) has formed a dedicated Regulatory and Financial Services Team to provide advice to local and international clients on regulatory matters in the Cayman Islands.　　

France's Hollande Unveils 'Vast' Tax Reform Plans

Denouncing the legacy of outgoing President Nicolas Sarkozy’s five-year term in office, marked by accumulated debt of EUR612bn (USD799.7bn), by a proliferation of supplementary finance laws and incoherent budgets, aimed at maintaining the fiscal pri

Singapore may not escape India's offshore tax grab

Mauritius owes its tax status to historic ties with India, which resulted in a treaty signed in 1983.

Swiss Court Rejects Disclosure of Credit Suisse Client Data

Credit Suisse Group can’t disclose a client’s account data to U.S. tax authorities because a request for assistance last year addressed only tax evasion, which isn’t covered by a 1996 treaty, a Swiss court ruled.

UBS Likely to Win Ouster of Billionaire’s Suit, Judge Says

U.S. District Judge Andrew Guilford in Santa Ana, California today issued a “tentative” opinion rejecting Olenicoff’s lawsuit against Zurich-based UBS, the largest Swiss bank.

Legal,Regulation,Tax & Compliance