01/17/2012
The updated criteria report takes into consideration the changes reflective in the Takaful market, particularly regarding the increasing development of the regulatory framework within certain countries and the key issues relating to Takaful operating stru
01/16/2012
Another difference under the new law is that the taxpayer must report any controlled transaction to the tax authorities and must supply supporting documentation to confirm the price reported. Previously, the burden of proving that an unfair price had been
01/13/2012
Switzerland has already agreed to allow tax evasion investigations with countries including the United States and Germany, and struck deals with Germany and Britain to enable them to claw taxes back from their nationals.
01/12/2012
Five men have been arrested on suspicion of fraudulent transactions from accounts held at Bristol-based stockbroker Rowan Dartington
01/11/2012
Two previous IRS programs, in 2009 and 2011, brought in more than $4.4 billion in taxes from tens of thousands of tax evaders, said the tax collection agency.
01/11/2012
In moves which have strained U.S.-Swiss relations, dozens of U.S. clients and at least two dozen Swiss bankers have been charged following a crackdown on offshore tax evasion through Swiss banks.
01/10/2012
Negotiations in the case have reached a critical stage, with an indictment possible though the bank is seeking a deferred prosecution agreement, which would be less damaging
01/09/2012
Neighbours say Swiss whistleblower was loner
They painted a picture of a man who kept to himself, rarely interacting with others in the tightly-knit community.
01/09/2012
Although Anschutz received about $374 million, he argued they were pending deals not final sales. That meant tax deferral was appropriate, he argued.
01/09/2012
The Foundation received £38,920 for 2010 but said it should have received more than £3.5m.
01/09/2012
In an order dated Jan. 5, the Securities and Exchange Board of India, or SEBI, said on its website it fined Manoj Gaur 1 million rupees (about $18,900) and an equal fine on his wife and brother for alleged insider trading.
01/06/2012
The independent arbitrators found PwC, now lead by chairman Ian Powell, wrongly reported to the Financial Services Authority that JPMSL had complied with client money rules which govern the segregation and protection of client funds.
01/06/2012
The independent arbitrators found PwC, now lead by chairman Ian Powell, wrongly reported to the Financial Services Authority that JPMSL had complied with client money rules which govern the segregation and protection of client funds.
01/05/2012
The investigation ordered by Swiss National Bank (SNB) was carried out by auditors PricewaterhouseCoopers (PwC).
01/05/2012
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.
01/05/2012
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
01/04/2012
The bank says it never broke Swiss law during the period in question.
01/04/2012
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.
01/04/2012
Punitive damage awards are "very rare" in arbitration rulings, according to Craig Stein, a securities lawyer in Palm Beach, Florida.
01/04/2012
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.