Legal

2107 articles found

Legal

FINMA concludes proceedings against Wendelspiess Partners AG and imposes long-term industry bans

The Swiss Financial Market Supervisory Authority FINMA has concluded enforcement proceedings against Wendelspiess Partners AG in liquidation and two individuals for serious breaches of the rules of conduct governing the provision of financial services. It has imposed long-term industry bans on two responsible individuals.     Following a report from the relevant supervisory organisation, FINMA discovered […]
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Legal

When Federal Tax Breaks Stop at the State Line

Recent tax legislation reflects a federal focus on encouraging risk-taking and innovation through generous, often permanent tax incentives.    The expansion of qualified small business stock is a prime example, allowing founders and early-stage investors to potentially eliminate federal taxes on millions in gains. (Internal Revenue Code Sections 1202(a),(b),(c)).But while federal priorities are clear, states haven’t […]
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Legal

Hold and review: An approach for investments and tax

Warren Buffett, the Chairman of the Board of Berkshire Hathaway, famously said "our favourite holding period is forever".   He did not intend that he should be taken literally, but rather he was emphasising the philosophy of buying carefully and for the long term. Circumstances may change and regular review is crucial, but the aim […]
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Legal

Charity Commission issues updated guidance on conflicts of interest

The Charity Commission has published updated guidance for trustees on identifying and managing conflicts of interest in a charity.   This updated guidance follows the Commission's announcement that compliance cases involving alleged abuse of charitable status for private benefit had risen by 23% in a single year, and that conflicts of interest were a recurring […]
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Legal

Billionaires pour millions into ballot fight over California wealth tax

Opponents of the proposed California Billionaire Tax Act ballot initiative say they have collected more than enough signatures to qualify two countermeasures that could weaken or block it, setting up a big-dollar November fight over further taxing the Golden State’s richest residents that has divided Silicon Valley and the state’s political class.   The billionaire […]
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Legal

Citi changes referral pay for bankers and wealth advisers

Citigroup is changing the way it rewards corporate and investment bankers and wealth advisers for passing business to colleagues, the Financial Times reported citing an internal memo.   Under the revised approach, the bank will pay employees directly for bringing in business across different parts of the group.   This marks a shift from the […]
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Legal

Netherlands’ Plan for Tax on Wealth Sparks Fierce Opposition

The Netherlands is gearing up for a new tax on paper profits, sparking public and political opposition and opening another front in the international push to target the wealthy.   From 2028, individual investors will have to pay a 36% charge every year on increases in the value of assets such as stocks, bonds and […]
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Legal

Close Brothers also declines to challenge car finance redress

Close Brothers Group PLC has joined fellow lenders Barclays PLC, and Lloyds Banking Group PLC, in deciding against a legal challenge to the UK Financial Conduct Authority's motor finance compensation scheme, Sky News reported on Saturday.   "Close Brothers does not intend to challenge the FCA's motor finance redress scheme," the London-based merchant bank said, […]
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