05/17/2012
Asia's Lighter Taxes Provide a Lure
Even if U.S. tax rates increase slightly, they would remain historically low.
Tax
05/17/2012
JP Morgan hit by lawsuit over 'clandestine conversion' that caused $2bn trading loss
Jamie Dimon, JP Morgan’s chairman and chief executive, and Douglas Braunstein, the bank’s finance director, are accused of breaching fiduciary duty to investors and wasting the bank’s assets in a suit filed in New York by Californian sha
05/17/2012
BGC executive banned from City over dishonesty concerns
The FSA believes that he is not a fit and proper person due to concerns over his honesty, integrity and reputation.
05/16/2012
FSA fines Swiss private bank £525k for money laundering failings
Failure to take reasonable care to establish and maintain adequate AML systems and controls went on for three years, the FSA said, and the firm was exposed to an ‘unacceptable’ risk of money laundering.
05/16/2012
Wealthy Sweden spending too little - policy adviser
The Swedish Fiscal Policy Council, a state agency that evaluates government policy, said it saw little risk the country would breach spending ceiling rules in the coming years and instead urged the government to slacken spending constraints.
05/15/2012
Not guilty plea in $10m bank error trial
Appearing in the Rotorua High Court this morning Kara Mary-Jo Hurring, 33, entered the plea on on 25 counts of theft, three counts of attempting to dishonestly use a document, and two counts of money laundering.
05/15/2012
The tax cap is in danger of deterring innovative philanthropists
Last week the Cabinet Office hosted a slimmed down version of its giving summit, the culmination of a year's consultation to encourage a US-style giving culture and raise the amount of money flowing to charitable causes.
05/14/2012
OECD launches Tax Inspectors without Borders
Building on that concept, the OECD will establish an independent foundation, to be up and running by the end of 2013, that will provide international auditing expertise and advice to help developing countries better address tax base erosion, including ta
05/14/2012
Surveillance spend to soar as regulators crack down - Tabb Group
Increased market fragmentation has made it more difficult to pick out market manipulation across Europe's trading venues, pushing the European Securities Markets Authority to enact tough new market abuse rules.
05/13/2012
Black money: fin min examining CBDT report
Nearly ten months after it was formed to examine ways to check the menace of black money, a committee under the chairmanship of Central Board of Direct Taxes (CBDT) chief has submitted its report to the finance ministry.
05/11/2012
UBS Exposes Its Frivolous Briefs In $21 Million FINRA Customer Arbitration
Claimants sought $7,000,000.00 in compensatory damages, $14,000,000 in punitive damages, interest, attorneys’ fees; costs; and expenses.
05/10/2012
Legislation would cut taxes for companies that move jobs to US
The bill, introduced by Congressman Bill Pascrell, D-N.J., and Sen. Debbie Stabenow, D-Mich., would provide a 20 percent tax credit to U.S. companies that bring jobs and business operations back to America, while ending tax breaks for companies that send
05/10/2012
FSA fines Martin Currie £3.5m over client conflict
This is the largest fine ever imposed by the FSA in a conflict of interest case.
05/09/2012
LawInContext launches Global Anti-Corruption / Anti-Bribery e-learning training courses
The global e-learning program includes industry focused content for the financial services industry sector and is fully customizable for a particular institution.
05/09/2012
Payne Hicks Beach boosts private client team
He brings with him a knowledge of tax, trust and estate planning for wealthy individuals, as well as their advisers and trustees, both domestically and internationally.
05/09/2012
Ex-Dresdner Kleinwort bankers win bonus battle
The failure of Dresdner Kleinwort to pay bonus deals as stated in December “was wrongful and in breach of express and implied terms”, the claimants had argued.
05/08/2012
Stolen HSBC data allowed by Paris court in tax probe
Arlette Ricci disputed the validity of using the data, stolen by a former HSBC employee and seized from his home in 2009, in pursuing her for allegedly hiding wealth in HSBC accounts in Switzerland to evade taxes, AFP said, citing Jean- Marc Fedida, her l
05/07/2012
Puerto Rico Is No Paradise for UBS Customers
When Congress passed the Investment Company Act of 1940 to prevent abuses of mutual-fund shareholders, it exempted Puerto Rico.
05/07/2012
UBS's Weber Sees Germany Approving Swiss Tax Treaty
Germany and Switzerland last month signed an amended tax treaty including a withholding tax to end a decades-long dispute over tax evasion.
05/07/2012
Swiss bank Pictet gave data to U.S. in tax probe
Pictet said in a statement the data handover took place in November 2010 via the Swiss tax office, which had received a request for assistance from its U.S. counterparts.