Managers of Wealth

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.

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.

Liechtenstein Informs Bank Clients of U.S. Tax-Evasion Request

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.

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.

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.

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.

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.

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.

Legal,Regulation,Tax & Compliance