06/20/2012
Mr X, as the person has been referred to by tribunal, denied he owned an account with the UK-based UBS Wealth Management, called Customer A account, used by some UBS officials to make large-scale unauthorised transactions.
06/19/2012
Liechtenstein, a country known for its banking secrecy laws, recently agreed to allow its second largest bank, Liechtensteinische Landesbank AG, to turn over U.S. client data to the Internal Revenue Service (IRS) and the U.S. Department of Justice (DOJ).
06/19/2012
The SFO is not expected to drop its investigation into Vincent’s younger brother Robert at this point.
06/18/2012
The consultation paper “Ensuring the fair taxation of residential property transactions” has been published by HM Treasury.
06/18/2012
The consultation document “A General Anti-Abuse Rule” has been published by HM Treasury.
06/15/2012
The taskforces were launched as a result of the government’s £917 million spending review investment to tackle tax invasion, avoidance and fraud in 2011.
06/15/2012
CI law firm facilitates estate planning debate in Singapore
"We are well established in the Channel Islands and have been named the fastest growing offshore law firm - but as we are new to Singapore it has been mutually beneficial to facilitate debate and discussion around regional issues with industry leader
06/15/2012
ABN Amro Bank Ltd. asked a judge to dismiss a lawsuit by the liquidator of Bernard Madoff’s firm, saying it lost $490 million in the Ponzi scheme, out of $725 million it invested. As one of the con man’s biggest losers, “it is simply not
06/13/2012
The French Government is using a stealth ploy to squeeze extra cash from foreigners to help pay off its whopping €1.7 trillion national debt.
06/12/2012
Both nations will sign a double taxation agreement Monday.
06/12/2012
TCC client services director Ian Stott said advisers should expect visits from the Financial Services Authority (FSA) as it hones in on fund switching once it has finalised guidance on centralised investment propositions.
06/12/2012
UBS has declined to comment on the accusations. UBS spokesman Yves Kaufmann said the bank complied with the legal requirements in the markets where it operated.
06/11/2012
In an interview with the Basler Zeitung newspaper, finance minister Eveline Widmer-Schlumpf indicated that Washington was keen on ending the spat, which is part of an American attempt to crack down on wealthy citizens using Swiss banks to dodge taxes.
06/11/2012
Liechtenstein’s second-biggest bank, also known as LLB, is one of 11 financial firms, including Credit Suisse Group AG and Julius Baer Group Ltd., being investigated as part of a U.S. probe of offshore tax evasion.
06/08/2012
Giving evidence to the Senate Banking Committee, Thomas Curry, the US Controller of the Currency, said the body would pursue 'all appropriate measures' if corrective action was necessary.
06/08/2012
Swiss private bank Lombard Odier and regional savings bank Banque Cantonal Vaudoise both said they will contest the claims of trustee Irving Picard, who is seeking $179.4 million and around $10 million respectively from the banks.
06/08/2012
Two sides in an industry divided over how to oversee investment advisers faced off on Wednesday before U.S. lawmakers considering a bill that would ramp up protections for investors.
06/07/2012
Kaupthing failed with the rest of Iceland’s largest lenders in October 2008 after it was unable to secure short-term financing.
06/07/2012
The claimant, who has been granted anonymity, brought the judicial review proceedings to challenge a decision made by the Regulatory Decisions Committee to issue a decision notice against him in October 2010.
06/05/2012
Ex UBS CEO said at weekend he wanted SNB to end cap