Managers of Wealth

Metals trader fraudster given extra seven years

The banks – including West LB, JP Morgan Chase and Dresdner Bank – lost more than £400m after they were duped into backing a series of bogus metal shipment trades by Rastogi's firm RBG Resources and related companies.

Citi, UBS provide keys to widening interest rate-rigging probe

Citigroup and UBS, in a series of disclosures to law-enforcement officials, have provided crucial information to investigators in multiple countries as part of inquiries into whether the world's biggest banks manipulated a global benchmark interest r

Greece signs international tax agreement to tackle tax evasion

The Convention promotes international co-operation in the assessment and collection of taxes.

Swiss Banks May Have to Ensure Foreign Clients’ Tax Compliance

Swiss banks must ensure foreign clients are tax-compliant in their home countries, according to proposals by Switzerland’s government that pave the way for approval of an accord with the U.S.

U2 bassist suing Bank of Ireland Private Banking

U2′s bass player Adam Clayton is suing Bank of Ireland Private Banking and chartered accounting firm Gaby Smyth & Co over claims that his former personal assistant took over €4.8 million from his bank accounts.

U.K. Lawmaker Targets Bank Executives

The Conservative Member of Parliament for Wycombe is hoping to attract cross-party support for a new bill that will force bank directors, already under pressure over the size of their bonuses, to take personal liability for any losses suffered under their

Swiss demand banks help clean up tax-haven image

Switzerland announced plans on Wednesday to force its secretive banks to do more to make sure foreign clients' money is taxed in an attempt to shake off its image as a haven for untaxed funds as it seeks to end a damaging U.S. tax probe.

I-T dept to initiate prosecution action in HSBC Geneva cases

Germany had last year provided the names of some Indians, having secret accounts in Liechtenstein's LGT Bank.

Singapore to exempt gold, other precious metals from tax

The change brings Singapore's tax treatment of investment-grade gold and other precious metals in line with the practices of other developed countries such as Australia and Switzerland, he said.

LG and Withers target high net clients with Singapore launches

LG’s Singapore launch, which will go live in the coming months through an alliance with local outfit PK Wong and Associates, marks the City law firm’s first base in Asia.

Hedge fund analyst arrested for insider trading

Unfortunately for Kinnucan, the Feds had already tapped his phone and captured his conversations with Donald Longueuil, a former SAC portfolio manager, and Level Global Investors LP co-founder Anthony Chiasson.

Italian tax men blitz the chic in ski resort raids

Italian tax agents donned skis, gloves and goggles to launch an unusual blitz in the chic ski resort of Courmayeur, two months after a similar raid on another playground of the rich, Cortina d'Ampezzo.

World’s largest offshore law firm to expand into Mainland China

The new office, due to open on 2nd April 2012, will deliver fully integrated fiduciary and administration services and operate in tandem with the firm’s Hong Kong office, which has serviced Appleby’s local and international clients in Asia for

Prosecutors rests in fraud trial of Texas billionaire

The start of Stanford’s defense was briefly delayed as his attorneys asked U.S. District Judge David Hittner for time to discuss how they would proceed.

Singapore Toughens Fight Against Tax Evaders

The FATF is the global standard-setter for measures to combat money laundering and terrorist financing.

Boiler room alert: share fraudsters return to target wealthy investors

Private client investment managers are reporting that their clients are being targeted by bolier room scams.

Senior bankers caught up in film investment tax probe

Three senior investment bankers have emerged as being among the 16 individuals arrested last week as part of an investigation into allegations of tax evasion involving film financing schemes.

Closed UK hedge fund ordered to pay $76.8m

Sweet ruled that Pentagon Capital and Chester must disgorge $38.4 million in improper profits on the trades. He imposed the same amount as an additional civil penalty.

Bullion company being investigated

SFO staff have secured the company's financial records and made additional inquiries.

UBS suspends traders in Libor probe

Other traders based in Zurich were suspended last year and in January, the report added.

Legal,Regulation,Tax & Compliance