01/02/2012
Mystery of the missing $2 million in gold bullion
The troubled mortgage company is actually two related firms called UM Financial Inc. and UM Capital Inc.
Legal,Regulation,Tax & Compliance
12/30/2011
Australian tax exile in Singapore 'in fear of a Paul Hogan'
AN expatriate Australian businessman accused of fleeing Australia to avoid prosecution for tax evasion has compared himself to fugitive French film director Roman Polanski and actor Paul Hogan.
12/30/2011
RBS, DOJ To End Deferred-Prosecution Agreement Over ABN Amro
More than $3.2 billion involving shell companies and high-risk transactions with foreign financial institutions flowed through the bank’s New York branch, according to court documents filed at the time.
12/29/2011
UK has to make voice heard in 2012, warns IMA
The UK will have to work increasingly hard next year to make sure it has its say on a number of incoming European financial regulations, the Investment Management Association says.
12/29/2011
Whistleblower dossier handed over in bank ‘fraud’ action
A mass of documents assembled by a whistleblower at Bank of New York Mellon have offered a glimpse into how the bank responded to allegations from US authorities that it defrauded customers of hundreds of millions of dollars.
12/29/2011
New U.S. tactic for suspected Swiss bank tax cheats
U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more commonly used against drug smugglers, money launderers and Imelda Marcos, widow of the Philippine dictator.
12/28/2011
Husband faces civil suit in death of rich UBS wealth manager
Shele Danishefsky Covlin, 47, a UBS wealth manager, was found dead in her upper West Side bathtub on New Year’s Eve 2009.
12/28/2011
Hundreds of Swiss names on hacked client list
Among the company’s Swiss clients believed to be affected by the hacking operation are employees of Swiss banks UBS and Julius Bär...
12/28/2011
When to Go Above The Boss's Head
His story is exemplary of the whistleblower-like firings and resignations that have graced headlines since the days of Enron.
12/28/2011
Swiss private bank fined in U.S. over short sales handling
The Bank violated a U.S. regulation known as SHO
12/28/2011
Memo to hedge fund managers: It's a bad time to try to overachieve.
The Securities and Exchange Commission is cracking down on hedge fund fraud, and the first places they're looking are the firms that seem to be doing a little too well.
12/26/2011
How a wealth tax would pay dividends for Nick Clegg
A Christmas card with a difference has been sent to Liberal Democrat ministers and spokesmen: a prompt card listing key points they must make in every media interview.
12/26/2011
Black money probe: IT department decides to reopen tax returns of suspects
Faced with a number of cases of denial of secret foreign bank account holdings, the Income Tax department has decided to re-open past tax returns of such individuals in Mumbai and Delhi among others, in order to unearth black money stashed abroad.
12/08/2011
Why the GOP should hike taxes on the super rich
If Republicans want to put the Democrats' "tax fairness" canard to rest, they ought to push for a tax hike on the 'super rich' -- but not on the rich.
12/05/2011
Appeal Court vindicates FSB in battle with Dynamic Wealth
Judge Malcolm Wallis, who wrote the judgment, with four other judges concurring, found that Acting Judge AJ de Vos had erred in rejecting the FSB application.
12/05/2011
Top Manhattan art gallery accused of selling fake article
Pierre Lagrange, a co-founder of GLG Partners Inc., said in a complaint filed yesterday in Manhattan federal court that he paid $17 million for a painting called "Untitled 1950" from Knoedler in November 2007 that the gallery said was by Pollock
11/30/2011
Citigroup deal haunts Pandit as Saudis seek to reclaim fortune
Soured deals struck with wealthy clients are haunting Citigroup Chief Executive Officer Vikram Pandit.
11/29/2011
Top wealth firm in £10k trail dispute with Massow
In 2004, Muston had set up a £200,000 trust fund through an IFA in Birmingham, which was later taken over by Barclays Wealth. Aviva, the fund provider, then paid an initial commission of £5,000 to the IFA.
11/29/2011
Swiss not aware of US accusation details - Pictet
Swiss banks need to know what the U.S. is accusing them of to be able to negotiate a solution, Nicolas Pictet, president of the Swiss private banking association and a managing partner at Pictet & Cie. told Aargauer Zeitung in an interview.
11/28/2011
Germany's Greens push for higher tax on rich
The Greens have been riding high in opinion polls and could be well-positioned to form a coalition with their preferred partners, the centre-left Social Democrats (SPD), or Chancellor Angela Merkel's conservatives (CDU/CSU).