US tops financial secrecy ranking as G7 countries upend global progress on transparency
The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention
Legal
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CHF 4bn IAM receives Finma licence and looks for new WMs
The company added that it is well positioned to play an active role in the industry’s consolidation.
UBS Data Thief Headed for Prison
In 2020, the verdict was upheld by an appeals court, and was again by the Swiss Federal Court, dismissing an argument that the lower appeals court did not correctly conduct the proceedings.
Swiss Government Unblocks Some Russian Assets
Since April 7, 2.2 billion francs had been newly reported while 3.4 billion francs blocked as a precaution, have been released.
Ex-UBS banker loses appeal over selling client data to Germany
It dismissed his argument that the lower court had conducted proceedings in an inadmissible manner.
The Italian VAT regime on the Leasing and Chartering of Pleasure Vessels
The new amendments have been acted to address objections from the European Commission
‘Ghost dom’ tax loophole hampering efforts to stop sanctioned Russian money flowing into UK
One official working on British sanctions policy told The Independent that the UK’s tax system, and specifically “ghost doms” and non-doms, “severely limited” their ability to track and trace individuals’ income streams
Pandora Papers shed light on ‘gatekeepers’ of dirty money
MONEYVAL rebuked governments across Europe for failing to combat money laundering or police lawyers, accountants and other professionals who facilitate financial crime.
Credit Suisse is an Ideal Target
The accusers maintain that Ivanishvili is a Georgian and French citizen and has no connection to any sanctions person or organization.
GFG Facing UK Insolvency Hearing After Credit Suisse Ends Talks
The bank granted Gupta additional time by postponing hearings but has now broken off talks, which will lead to the commencing of insolvency hearings.
Swiss Press Freedom Takes Back Seat to Banking Secrecy
The rules were an addition to Article 47 of the Swiss Banking Act which punished violations of banking secrecy with up to three years in prison and a fine.