The chairman of a new ombudsman service for financial services in the Channel Islands has been named as David Thomas, a lawyer who was appointed as the UK banking ombudsman in 1997 and subsequently became a principal ombudsman with the UK Financial Ombudsman Service.
Two Canadians with dual US citizenship are suing Canadas federal government over its decision to sign up to FATCA.
Mexico has been named as fully compliant with international tax standards by the OECD while others, including Indonesia and Chile have been rated either largely or partially compliant.
The Supreme Court of Cyprus has rejected an application by FBME bank that sought to suspend the sale of the branch’s operations on the island, as reports say EY investigators are continuing to look at money laundering claims made last month by the US Treasury Department.
RBS aims to sell off the international business of Coutts as the ‘Plan A’ part of its strategy to focus on building its UK operations.
Singapore has put in place measures to prevent fund flows linked to anti-money laundering and tax avoidance from jurisdictions such as Switzerland, Monetary Authority of Singapore managing director Ravi Menon has said in an interview.
Requests to the UK’s Financial Conduct Authority from international regulators increased last year as a result of more cross-border investigations.
Management of international bank FBME, which has branches in Cyprus, has been taken over by Tanzanias central bank, according to a statement on the banks website.
RBC Global Asset Management has appointed Anne-Sophie Girault as Europe, Middle East, and Africa managing director for business development.
The Dubai Chamber of commerce membership registered a 24.3% increase in the first six months of 2014 compared to the same period last year.
Skandia International’s sales fell 4% in the first half of this year, hit by lower levels of business in the Far East.
Friends Provident International’s new business fell by a third in the first half of this year in the face of what it described as “challenging market conditions and significant regulatory changes”.
