07/26/2012
OECD welcomes multilateral efforts to improve international tax compliance and transparency
The OECD welcomed today a new model international tax agreement designed to improve cross-border tax compliance and boost transparency.
Legal, Regulation & Compliance
07/26/2012
G5 FATCA agreement strengthens UK ability to tackle tax evasion
This is a key step towards delivering on the commitment to an intergovernmental approach to implementing the US Foreign Account Tax Compliance Act (FATCA) made by the same countries in their joint statement published on 8 February 2012.
07/26/2012
Another FSA probe at Barclays
The FSA's probe also relates to a debt sale by Barclays the following year.
07/26/2012
Six sent to prison for UK insider dealing ring
The six betrayed the principles of confidentiality and trust that are essential to the operation of the commercial world, the judge added.
07/25/2012
Mexico fines HSBC for lax money-laundering controls
It is the biggest fine ever charged against a bank by the CNBV, the Mexican regulator said.
07/25/2012
FSA's Turner backs end to ‘free’ banking
Turner (pictured) said in a speech at Bloomberg that the banking sector required new entrants in order to improve public perception, but that the practice of offering current accounts with no charge was preventing this.
07/25/2012
Fidelity Joins BlackRock in Weighing Libor Action Against Banks
Global regulators are reviewing the rate-setting mechanism and contemplating criminal charges against bank traders who manipulated Libor
07/25/2012
Former HSBC worker Herve Falciani arrested over stolen account details
Swiss authorities confirmed they were carrying out a criminal investigation into the matter, which dates back to 2008.
07/25/2012
European regulator Esma publishes ETF and Ucits guidelines
According to Esma, the guidelines will strengthen investor protection and set out the types of financial index Ucits products can invest in.
07/25/2012
LG sees PEP tumble as firm blames 'increased property costs'
Managing partner Hugh Maule put the blame on “increased property costs” in London as PEP slipped from £412,000 in 2010-11 to £303,000 in 2011-12.
07/25/2012
FSA cancels Kent-based IFA over RMAR non-submission
He failed to submit his RMAR for the year ending December 2011 and has subsequently ignored “repeated requests” to do so, according to a final notice issued by the regulator.
07/25/2012
German Banks Seek Delay to EU Implementation of Basel III
This makes the planned start date of the Basel III rules "unrealistic," as more than just one to two months' notice is needed to analyze the final text of the regulations and directives, to make changes to information technology systems, an
07/24/2012
Adviser wins £260k VAT appeal against HMRC
Bloomsbury Wealth Management has won an appeal to have almost £260,000 in VAT repaid after a tax tribunal ruled the firm was providing services that were exempt from VAT.
07/24/2012
Deutsche Bank internal Libor clears board
A Deutsche Bank internal investigation into Libor has found that two former traders may have been involved in colluding to manipulate the rates but said there was no indication of failure at the top of the organisation, Reuters reported.
07/24/2012
Bankruptcy hasn't curbed luxury lifestyle of 'outsider' Sean FitzPatrick
His arrest at Dublin airport as he returned from a break in the US is just the latest sign that Sean FitzPatrick still enjoys a lifestyle way beyond the reach of most of those left to pick up the Anglo tab.
07/24/2012
Six found guilty of operating insider dealing ring
The defendants will be sentenced on Friday 27th July 2012.
07/23/2012
HSBC scandal erupts as British bank sector faces shake-up
HSBC last week apologised and its head of compliance David Bagley resigned after US lawmakers accused the London-based bank of failing to apply anti-laundering rules, benefiting Iran, terrorists and drug dealers.
07/23/2012
British tax dodgers to be publicly named
For decades the British Trades Union Congress has been arguing that closing down avoidance opportunities for wealthy individuals and business would limit the need for public sector cuts.
07/23/2012
Ex-Anglo Irish head held in fraud probe
He resigned from the bank in 2008 after the "inappropriate" failure to disclose €87m (£82m) in personal loans from the bank.
07/23/2012
Treasury Committee instructs Devereux Chambers' Jonathan Fisher QC on Libor investigation
The Treasury Committee has turned to Devereux Chambers corporate and financial crime silk Jonathan Fisher QC to advise it on an investigation into the ongoing fallout from the Libor scandal.