The head of a leading financial trade body in Australia has returned from a trip to the US highly confident that the North American government will exempt superannuation schemes from the controversial Foreign Account Tax Compliance Act (FATCA).
Like it or not, the US Foreign Account Tax Compliance Act is happening and is just around the corner. Here Royal London 360°s technical marketing manager, Neil Chadwick, explains its impact.
Investment fund industry executives, bankers, trust administrators and other financial services industry experts with an interest in FATCA are on high alert, with the US Treasury Department reiterating yesterday that it intends to unveil a key set of details as to how financial institutions are to comply with the major piece of US anti-tax evasion…
The European Securities and Markets Authority (ESMA) has today published guidelines on ETFs and Ucits issues in a bid to address risks associated with these types of funds.
Recent press scrutiny of US presidential candidate Mitt Romneys use of a Swiss bank account which came to light with the publication of his 2010 tax return has prompted an American journalist to document his his own efforts to go to offshore.
Earlier today, the UK Treasury published proposals which could ultimately lead to HM Revenue & Customs being handed powers to “name and shame” individuals and companies who use aggressive tax avoidance schemes.
The UK Treasury has announced a major crackdown on the promoters of aggressive tax avoidance schemes, which includes a proposal to strengthen the DOTAS rules to allow it to force promoters into providing the names of those avoiding tax.
Tax Justice Network, a UK-based organisation that campaigns against the use of tax havens by individuals and corporations, has released a study that finds as much as $21trn, and possibly more, is being kept out of the hands of tax authorities around the world.
Jerseys financial regulator has made the introduction of an RDR-type regime in the jurisdiction a priority for next year, according to its 2011 annual report released yesterday.
The UKs Financial Services Authority has today contacted a number of advisory firms, as well as lawyers and accountants, which it believes may wish to revoke their permission to provide investment advice after the implementation of the Retail Distribution Review.
The Jersey Financial Services Commission (JFSC) carried out a record number of new investigations into alleged rule breaches last year, according to a report in The Jersey Evening Post.
French banking giant Société Générale is to repay more than $11m to customers in Hong Kong after the City watchdog reprimanded it for overcharging on certain over-the-counter investment products sold by its wealth management division.
