Managers of Wealth Offshore

Swiss Attorney General Probes UBS Over Malaysian Timber Proceeds

The case against UBS was opened on August 29, following a criminal complaint by the Bruno Manser Fund over the bank’s close ties with Sabah Chief Minister Musa Aman.

Axel Weber has urged financial regulators to improve their dialogue with the banks

Following the financial crisis, UBS does not dispute the need for tougher bank regulation on issues such as risk, liquidity and emergency measures, Weber said, but he warned of possible knock-on effects of putting rules into place without consulting banks

US Gift Tax - Overview

After December 31, 2012, unless Congress enacts new legislation, this opportunity will vanish and will be replaced by a $1 million exemption and a 55 percent federal transfer tax rate.

Argentine judge orders arrest of Credit Suisse executive

Federal Judge Marcelo Martinez de Giorgi will ask Interpol to issue an international arrest warrant seeking Mulford's extradition for questioning over the bond exchange carried out by the government in an unsuccessful bid to avoid default.

Tax agreements key to the future - confidence despite a difficult environment - SBA

Although the current situation for banks is characterised by falling margins, a large number of regulatory projects and constant pressure from abroad, Switzerland can continue to be a leading financial centre.

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.

Mitt Romney buy-out firm said to be probed by New York attorney general

The buy-out firms are said to have been subpoenaed by New York’s attorney general Eric Schneiderman over their use of a tax-cutting method.

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.

Russell Collins and Boston Consulting Group Appointed to Support Barclays Review

'The Salz Review will undertake extensive independent analysis, and its recommendations will be evidence based.

ABN paves the way for Asian-focused Tier 2

Banks have been focusing on Tier 2 bank debt in recent months due to the ongoing uncertainty surrounding Additional Tier 1.

Barclays faces new criminal inquiry by UK fraud office

The bank said last night that the UK’s main prosecutor of corruption had opened a formal criminal inquiry into the issue.

UK court to rule on Russian oligarchs' battle

Judge Elizabeth Gloster will rule on whether Boris Berezovsky was extorted out of his business empire by Roman Abramovich, the owner of Chelsea football club.

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.

Morgan Stanley Win on Brokerage Would Be Pyrrhic Victory

Morgan Stanley’s $9 billion valuation implies the joint venture’s profit could shrink by as much as 12 percent annually over the long term, according to Goldman Sachs Group Inc. analysts.

Baker & McKenzie Retains Global Top Spot With Record Revenues

Baker’s profit per partner fell 9 percent to a three-year low of $1.09 million, however, with the firm’s profit margin dropping 4 percentage points to 34 percent.

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.

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

France To Clamp Down On 'Unfair' ISF Tax Breaks

France’s solidarity tax imposed on wealth currently serves to generate in the region of EUR4bn a year for the state.

French banks investigate potential breach of U.S. sanctions

Neither would confirm whether the inquiries concerned U.S. sanctions against Iran, which have led to investigations at rival banks such as UniCredit and RBS and have already cost Standard Chartered a hefty fine.

SEC charges former Sky Bell hedge fund manager Gary Marks for misrepresentations

In its complaint, the Securities and Exchange Commission (SEC) accused Marks of recommending various funds of funds through Sky Bell Asset