08/26/2012

Zero Tolerance For Helping Tax Evaders, Says UBS

"The bank requires that all employees in the cross-border asset management business abide by legal fundamentals, including the German-Swiss tax deal […] Whoever transgresses is severely sanctioned”, Mr Weber told German newspaper Handels

08/23/2012

JPMorgan "London Whale" hires lawyer in France

The trader at the center of the criminal investigation surrounding JPMorgan's $5.8 billion trading loss has hired a lawyer in Paris, two sources familiar with the investigation said on Thursday.

08/23/2012

Intesa Luxembourg banker probed in tax evasion case

The magistrates have now put the chief executive of Intesa's Luxembourg unit Societe Europeenne de Banque (SEB), Marco Bus, and an Italian broker and former Intesa employee, Alessandro Jelmoni, under investigation.

08/23/2012

Germans raid Julius Baer clients in tax crackdown

German tax inspectors have raided clients of Swiss bank Julius Baer, the latest development in a dispute over untaxed money held in secret Swiss accounts, a German magazine reported.

08/22/2012

German Windfall Wealth Tax Said To Be Constitutional

According to legal expert Joachim Wieland, the deciding factor in the matter is whether or not the state has an exceptional financial need for such a one-off levy, for example to save the country’s banks, to bail out other countries, or to reduce bo

08/22/2012

FSA unveils Ucis products crackdown

The Ucis retail market is worth about £2.5 billion in the UK and some 85,000 ordinary retail investors have direct holdings in investments, which can hold assets like traded life policy investments, fine wines, crops and timber.

08/22/2012

MPs seek British version of U.S. tax disclosure rules

The proposed legislation takes as inspiration the new U.S. Foreign Account Tax Compliance Act (FATCA), which is designed to stop Americans from hiding money from the taxman offshore, the report says.

08/22/2012

German cabinet pushes ahead with Basel III bank rules

Germany's cabinet agreed on Wednesday to push ahead quickly with the introduction of stricter capital requirements for banks under international Basel III rules, despite the misgivings of German banks about how they will be implemented across Europe

08/21/2012

RBS under investigation by US authorities

The bank also said that it had initiated discussions with UK and US authorities to discuss its historical compliance with the relevant regulations and laws, “including US economic sanctions”

08/21/2012

Ledingham Chalmers boosts private client with bolt-on

The bolt-on followed a year in which Ledingham Chalmers’ private client practice grew by 10 per cent. The firm hired Adam Cochran partner Douglas Watson as a partner in April 2011 to boost this practice area.

08/20/2012

Monti Negates Rumours Of Italian Income Tax Cut

From the moment that his government had been appointed with parliamentary support, Monti added, it had pursued structural reforms in the economy and the public sector with that singular aim.

08/20/2012

FSCS places Cru IFAs in default

Hertfordshire-based Conforto Financial Management was also on the list of 21 investment firms recently placed in default by the scheme. It was wound up in November 2010 following the £1.5 million purchase of Optimal Wealth Management.