Managers of Wealth Offshore

Reykjavik Court Rejects Credit Suisse Kaupthing Priority Claim

Kaupthing failed with the rest of Iceland’s largest lenders in October 2008 after it was unable to secure short-term financing.

High Court quashes £100k FSA fine against ex-banker

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.

Swiss business lobby seeks unity on SNB FX cap

Ex UBS CEO said at weekend he wanted SNB to end cap

Ex-UBS Client pleads guilty in Offshore Tax case

He agreed to pay a civil FBAR penalty of $5.75 million as well as taxes due of $312,803.

Wealthy clients turned tables on UBS and staff?

Ex-UBS employees, including former Managing Director Sachin Karpe, are accused of unauthorised transactions on 39 client accounts, of which 21 reported substantial losses.

Commerzbank appeal on bonus case refused

The High Court judge ruled earlier this month ruled in favour of the of the 104 former Dresdner Kleinwort bankers who sought a legal battle with Commerzbank over unpaid guaranteed bonuses that had been promised to them shortly before the investment bank w

Standard Chartered banker freed from detention in China

A StanChart spokeswoman said Ms Wu Yidian Eden, a naturalised Singapore citizen, has been released from custody. The bank is not being investigated and Ms Wu remains an employee.

Tax could cost UBS up to 10 percent of Europe assets

Zeltner said UBS had assets under management of over 300 billion francs in Europe, over 170 billion francs in Asia, around 110 billion francs in emerging markets and 130 billion in Switzerland.

Ireland’s oldest stockbrokers ordered to cease trading

The Central Bank alerted the firm last Thursday evening and has since ordered it to stop all regulated activities.

Grant Thornton's role in Tchenguiz case questioned

The Financial Times reported that the SFO had relied heavily upon Grant Thornton for information it used to build its case against Vincent Tchengui and his brother Robert, while the accounting firm was acting as administrator for Kaupthing.

India mulls one-time amnesty for tax evaders

In a plan submitted to the Indian Parliament Monday, the government also said it was considering allowing undeclared gold to be deposited with banks.

Spain Court Closes Botin Family Tax Case Without Charges

Spain's National Court said Tuesday it has shelved an investigation into potential tax evasion against Banco Santander SA (STD) Chairman Emilio Botin and his family without pressing any charges.

Politicking around the tax treaties

Switzerland could declare in the words of Voltaire, "Lord, protect me from my friends; I can take care of my enemies."

SEC Charges Former Napfa Chairman With Defrauding Clients

Spangler served as chairman and CEO of one of the companies, which is now bankrupt. Spangler's risky investments were inconsistent with the investment strategies that he promised his clients and contrary to their investment objectives, the SEC says.

Analysis: HSBC victory in UK case a relief to money-laundering monitors

Wednesday's High Court judgment is also a relief to financial firm professionals who feared the impact of a Shah victory on their processes for suspicious activity reporting.

JPMorgan's Dimon says will testify before Congress

U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday that his panel will invite Dimon to appear before Congress.

Asia's Lighter Taxes Provide a Lure

Even if U.S. tax rates increase slightly, they would remain historically low.

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

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.

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.