Managers of Wealth Offshore

Swiss bank says currency dealing claims 'partly incorrect'

The investigation ordered by Swiss National Bank (SNB) was carried out by auditors PricewaterhouseCoopers (PwC).

Ex-UBS Wealth CEO failed to act on risk failures - FSA

Pottage, now a senior executive at the bank’s headquarters in Zurich, should have started a review of controls after a client-money breach, a payment fraud, and other failings were discovered, the Financial Services Authority said in court papers.

Investors in Ponzi scheme sue Proskauer Rose, Chadbourne & Parke

The lawsuit filed in Texas state court in Houston on Dec. 30 alleges that attorney Thomas Sjoblom, while practicing first at Chadbourne & Parke and then at Proskauer Rose, conspired to defraud 49 plaintiffs from Mexico who unknowingly invested in a Po

Switzerland’s oldest private bank says it is prepared for fight with US over tax cheating allegations

The bank says it never broke Swiss law during the period in question.

Global law firm advises Emaar on financing deal

The financing, provided by a club of conventional and Islamic banks, comprised both an Islamic tranche structured on a diminishing musharaka basis and a conventional tranche.

Top German lender's unit to pay $3.6 mln to former director

Punitive damage awards are "very rare" in arbitration rulings, according to Craig Stein, a securities lawyer in Palm Beach, Florida.

FSA to target firms with ex-NHFA advisers

A source familiar with the situation said where there were individuals from NHFA working in similar roles at other advice firms then those firms would be looked at by the regulator.

Hogan Lovells makes up 35 to partner including eight in London

The promotions, which took effect last week (1 January), take total partner count at the firm to more than 800 across its global network. In addition, the firm has also made 46 of counsel and consultant appointments.

Bear Stearns trustee sues JPMorgan over mortgage securities

US Bank NA wants to force JPMorgan to buy back the mortgage loans because of alleged breaches of representations and warranties regarding the Bear Stearns Asset Backed Securities Trust 2005-4, for which it serves as trustee.

Citigroup Sues Hedge Fund Manager in Singapore Over Gold Losses

The first closed hearing is scheduled for Jan. 27.

U.S. charges 3 Swiss bankers in tax evasion case

U.S. prosecutors charged three Swiss bankers on Tuesday of conspiring with wealthy U.S. taxpayers to hide more than $1.2 billion in assets from tax authorities.

India to sign tax deal in Macau

The SAR Government has so far concluded Tax Information Exchange Agreements (TIEA) or Double Taxation Conventions with 12 different countries or regions.

MF Global clients accuse FSA of foot dragging

The City regulator is under growing pressure to launch a review into its handling of MF Global's UK administration amid accusations it neglected clients of the failed broker.

Former Lloyds bosses to be sued over HBOS takeover

Sir Victor Blank and Eric Daniels, the former chairman and chief executive of Lloyds Banking Group, are to be sued in the US courts by American shareholders unhappy at the bank’s takeover of HBOS at the height of the credit crisis.

Mystery of the missing $2 million in gold bullion

The troubled mortgage company is actually two related firms called UM Financial Inc. and UM Capital Inc.

Australian tax exile in Singapore 'in fear of a Paul Hogan'

AN expatriate Australian businessman accused of fleeing Australia to avoid prosecution for tax evasion has compared himself to fugitive French film director Roman Polanski and actor Paul Hogan.

RBS, DOJ To End Deferred-Prosecution Agreement Over ABN Amro

More than $3.2 billion involving shell companies and high-risk transactions with foreign financial institutions flowed through the bank’s New York branch, according to court documents filed at the time.

UK has to make voice heard in 2012, warns IMA

The UK will have to work increasingly hard next year to make sure it has its say on a number of incoming European financial regulations, the Investment Management Association says.

Whistleblower dossier handed over in bank ‘fraud’ action

A mass of documents assembled by a whistleblower at Bank of New York Mellon have offered a glimpse into how the bank responded to allegations from US authorities that it defrauded customers of hundreds of millions of dollars.

New U.S. tactic for suspected Swiss bank tax cheats

U.S. authorities hunting in Swiss banks for suspected tax cheats have a new weapon in their arsenal: an arcane but aggressive legal maneuver more commonly used against drug smugglers, money launderers and Imelda Marcos, widow of the Philippine dictator.