09/02/2012

UBS Probed Over Alleged Malaysia Money Laundering

Swiss bank UBS AG (UBS) said Friday that it will "certainly fully cooperate" with authorities after Swiss prosecutors began a criminal probe for alleged money laundering related to rainforest logging in Malaysia.

08/30/2012

Welcome To The City That Sues Banks

Regulators now allege that for years several banks may have lied about the interest rates they paid to borrow money from one another.

08/28/2012

Athens Closes in on Wealthy Tax Evaders

Modelled on Switzerland's agreements with Germany, Great Britain and Austria, the deal is aimed at the billions of euros Athens estimates that wealthy Greeks have parked in the Alpine country to avoid taxes back home.

08/28/2012

FSA targets wealth managers in new review

The FSA has launched a second thematic review into the suitability of client portfolios that could lead to regulatory action against wealth management firms.

08/27/2012

Singapore: Banks warned against European tax evaders

A German media report put an unwelcome spotlight on Singapore, Asia's prominent wealth management centre, earlier this month, saying that some Swiss bankers had advised clients to transfer funds there before the implementation of a deal to tax German

08/26/2012

Zero Tolerance For Helping Tax Evaders, Says UBS

"The bank requires that all employees in the cross-border asset management business abide by legal fundamentals, including the German-Swiss tax deal […] Whoever transgresses is severely sanctioned”, Mr Weber told German newspaper Handels