Singapore ifas welcome regulator response
Financial advisers in Singapore have welcomed the greater clarity given by the Monetary Authority of Singapore response to the FAIR consultation.
Tax & Regulation
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ESMA clarifies final guidelines on aifmd
The European Securities and Markets Authority (ESMA) has published final guidelines on the reporting obligations for alternative investment fund managers under the new Alternative Investment Fund Managers Directive, launched in July.
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watered down version of indian garr
The Indian government has confirmed that it is ploughing ahead with its general anti-avoidance (GAAR) rule, albeit in a more watered down form, according to reports, with the new tax rules set to come into force from April 2016.
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Swiss finally come on board with fatca
Following months of speculation, the Swiss authorities have confirmed that Switzerland will comply with the US Foreign Account Tax Compliance Act(FATCA)in line with the new deadline of 1 July 2014.
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singapore advisers face future commission ban
A commission ban or cap in Singapore is still on the future agenda, the Monetary Authority of Singapore has outlined in its response to the FAIR consultation.
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too big to fail banking reform is wrong says mas
Jurisdictions across the world are inconsistently trying to reform banking structures in a bid to end the “too big to fail” issue, Monetary Authority of Singapore managing director Ravi Menon has said.
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professional forum for advisers with us clients
A professional forum has been created for accountants, lawyers, wealth manager and others to have a social platform to deal with the unique issues faced by Americans who live in the UK.
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guernsey reg sets up whistleblowing hotline
Guernsey’s financial services regulator is to encourage whistleblowing by launching a hotline where calls will not be recorded or traced.
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raid on swiss accounts of brits a flop
A scheme to tax the secret Swiss bank accounts of UK taxpayers, first unveiled in 2011, has failed to bring in £2bn of the projected £3.2bn it was projected to raise, the Sunday Times has reported.
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eea death bonds back from brink
EEA Fund Management has contacted shareholders in its suspended EEA Life Settlements Fund asking them to vote on a restructuring proposal which could see the ‘death bonds’ fund unsuspended in six weeks’ time.
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jersey guernsey iom revel in
Officials from the three UK Crown Dependencies have been calling attention to a House of Commons statement by Britain’s Prime Minister, David Cameron, in which he said they were not tax havens.
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switzerland inches closer to fatca deal
Switzerland moved a step closer on Monday to providing bank data to the American tax authorities, after the Swiss House of Representatives voted in favour of allowing Swiss banks to comply with the US Foreign Account Tax Compliance Act.