03/30/2012
Banks Hold $1 Billion in MF Global U.K. Cash, KPMG Says
The figures relate to unsegregated client accounts, which MF Global was allowed to mix with its own funds and which have proved difficult for the administrators to recover.
Tax
03/29/2012
New York court rejects claim against UBS
HSH said it suffered “near-total” losses on a $500m collateralised debt obligation bought from UBS in 2002 when the US real estate market collapsed. It alleged the Swiss bank had deliberately selected mortgage bonds at high risk of default.
03/28/2012
Global manhunt is on for Chinese rogue banker
The Ministry of Public Security has issued an arrest warrant for Sun Feng, the former head of the Yaosai branch of the Agricultural Bank of China in Jiangyin in East China's Jiangsu province.
03/28/2012
CISI introduces mandatory integrity and ethics testing for members
The CISI is introducing new membership requirements for voting members in line with its commitment to champion the highest standards of ethical behaviour within financial services.
03/28/2012
I-T pulls up HSBC Bank in black money cases
The Income Tax (I-T) department is said to be mulling over prosecution against the HSBC bank for allegedly being the conduit for Indians in stashing money abroad.
03/26/2012
Buy-to-let landlords are sitting on a 'tax timebomb’
Never mind how Budget 2012 might affect a relatively small number of millionaires using offshore companies to avoid Stamp Duty. Here and now, accountants say thousands of buy-to-let landlords are sitting on a “tax timebomb”.
03/26/2012
Dorset yacht broker jailed for £210,000 VAT fraud
He used the proceeds of this crime to fund a seemingly comfortable lifestyle.
03/26/2012
Kai Herbert Sues JPMorgan Chase Over $3 Million Typo
Let this be a lesson in the importance of proofreading.
03/26/2012
Dorset yacht broker jailed for £210,000 VAT fraud
HMRC investigators discovered that Williams charged VAT to UK customers, but failed to pass the money to HMRC on six occasions. This fraud totalled £209,225.10. The total VAT inclusive price of the six motor cruisers was £1.4 million (£1
03/23/2012
Credit Suisse says bank to meet regulations
Credit Suisse, based in Zurich, and larger Swiss rival UBS AG (UBSN) are under pressure from the nation’s regulators to meet capital requirements that go beyond those faced by international competitors.
03/23/2012
FSA sends 'nasty letters’ to IFAs over single platform use
Simon Morris (pictured), partner in the Financial Services division of law firm CMS Cameron McKenna, said the FSA had recently been sending out 'nasty letters' to advisers on the use of single platforms.
03/23/2012
Leading offshore law firm advises WNS on NY Stock Exchange Offering
WNS is a leading global business process outsourcing company incorporated in Jersey, with its principal executive office located in India.
03/22/2012
Budget ushers in key changes for private client and property lawyers
Chancellor George Osborne has put measures targeting the wealthy at the core of a budget that is also set to cut tax for business and clamp down on tax avoidance by corporates and individuals.
03/22/2012
The worst-kept secret was a tax on the rich
The top rate of tax will now fall to 45 per cent from April 2013, and the expectation must be that a similar level of income will be deferred until 2013/14.
03/22/2012
Number Of French Tax Exiles 'Marginal'
The union was presenting its findings to the Senate inquiry into the flight of capital and assets abroad.
03/21/2012
Risks are increasing in quantity and severity - PwC
While concerns about further economic uncertainty continue to be top of mind for business leaders, issues such as fraud and ethics, mergers and acquisitions, large programs, new product introductions, and business continuity were identified among the top
03/20/2012
Thomas Eggar ranked in Top 25 Most Admired
Thomas Eggar’s expert private client team provides a broad range of specialist legal and tax support to individuals in areas including family, wealth planning and tax & trusts.
03/20/2012
Jewelers in India Extend Strike Seeking Withdrawal of Taxes
Gold jewelers in India, the world’s biggest bullion buyer, will extend the first nationwide strike in seven years for two more days to demand withdrawal of some levies, a trade group said.
03/19/2012
Incoming SJ Berwin senior partner eyes international expansion
Kon - a key negotiator in the Proskauer talks - yesterday reaffirmed the firm’s plans to revisit the opportunity with another firm.
03/16/2012
Who’s next on HMRC’s hit list?
The media recently seems to have been full of stories about tax avoidance – but do they really mean avoidance or do they mean evasion? It seems to me that the line is getting increasingly blurred.