Managers of Wealth

UBS loses case to recoup bonus from ex-broker

The case is a rare win for a broker trying to oppose the return of unpaid bonus money, say lawyers.

Swiss launch competition probe against UBS, Credit Suisse for suspected rates manipulation

The banks are suspected of colluding to influence key interest rates and the trading conditions for complex financial products that allow investors to bet on further interest rates — known as derivatives — the commission said in a statement Fr

Japanese banks under investigation by Swiss authorities

Collusion between these banks is suspected to have influenced the London interbank offered rate and the Tokyo interbank offered rate, two indicators of the interbank interest rate level.

Ashurst makes debut for new client opposite Links on $800m TPG buyout

Linklaters and Ashurst have taken lead roles on TPG Capital's $800m (£508m) acquisition of hedge fund services company GlobeOp.

UK FSA starts formal enforcement probe on UBS loss

Britain's Financial Services Authority (FSA) regulator has started a formal enforcement probe against Swiss bank UBS over last year's $2 billion trading loss at UBS's London arm.

Wealthy tax avoiders to feel Pravin's wrath

Elzahne Henn of global audit, tax and advisory firm Mazars said there would be "no good news for wealthy tax avoiders in 2012" when the Budget was delivered by Finance Minister Pravin Gordhan on February 22.

Julius Baer cautious about outcome of US tax evasion probe

Julius Baer is one of 11 Swiss banks under pressure from the U.S. to give up tax-evading American customers and the bankers who helped them.

Some U.S. banks awash in ID theft tax-fraud proceeds as IRS cracks down

The IRS says it has stepped-up its internal reviews, including by designing new identity-theft-screening filters, to spot such scams before refunds are issued.

"Incredulity" at broken Commerzbank pay pledge-banker

The London-based bankers, whose claims range from around 15,000 euros to 2.6 million, launched their legal battle in late 2009 after some were paid only 10 percent of the discretionary bonuses they were promised for 2008 out of a guaranteed minimum bonus

Regulators block global exchange consolidation

Regulators and some lawmakers in Europe, the U.S. and Asia have fared little better, resorting at times to nationalist sentiment to block exchange consolidation, alongside analysis that at times seemed out of step with a world of round-the-clock global tr

UBS, Credit Suisse Among 12 Banks in Swiss Probe on Libor Fixing

“Other financial intermediaries are also subject to the investigation,” Comco said.

Swiss Agree to Transfer Encrypted Documents to U.S. Authorities

Switzerland agreed to transfer about 20,000 encrypted documents to authorities in the U.S. as the two countries work toward settling a dispute over tax evasion.

Swiss Bank Charged With Helping U.S. Clients Evade Taxes

Prosecutors said that from 2002 to 2011, more than 100 U.S. taxpayers conspired with Wegelin

Kweku Adoboli denied bail in UBS fraud trial

Mr Adoboli pleaded not guilty to the charges and this means that an extended trial is likely.

Senate Bill Seeks to Replace $1 Bills with $1 Coins

On January 31, 2012, a bipartisan group of Senators introduced a bill which seeks to transition from $1 bills to $1 coins in order to save taxpayer money. The bill S. 2049 was introduced by Senators Tom Harkin and John McCain, and cosponsored by Senators

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