E77000 returned to offshore boiler room victims
The UKs financial watchdog has obtained a court order against a firm that used offshore boiler rooms to sell its shares, in a move that will see at least 77,000 paid back to victims.
Tax & Regulation
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fatca a burden lifted
Despite revisions to the proposed FATCA rules, significant work lies ahead for firms who want to comply, write Nick Matthews and Matt Haddow of Kinetic Partners.
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further arrest in fsa insider dealing probe
The UK Financial Services Authority has announced the latest arrest in a long-running and complex insider dealing investigation.
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efama calls for further refinement of fatca regs
The European Fund and Asset Management Association today called on the US to further refine the rules it is proposing for the implementation of FATCA, although it acknowledged that the most recent set of draft regulations aimed at cracking down on offshore tax evasion addressed “many” of its original concerns.
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hk regulator bans two for misconduct
Hong Kongs Securities and Futures Commission has taken action against two men for misconduct in relation to the trading of shares in Metallurgical Corporation of China.
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latest version of fatca rules clarify simplify
Kristin Konschnik, a partner in the London office of Withers, the international law firm, looks at the IRSs latest proposal for implementing FATCA.
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us unveils less onerous fatca regs
Responding, it said, to pressure from foreign financial institutions, the US today unveiled a less onerous version than it has previously of regulations covering the implementation of FATCA, its controversial new law aimed at cracking down on offshore tax evasion.
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harry redknapp cleared of tax evasion
Tottenham Hotspur manager Harry Redknapp and co-defendant Milan Mandaric have been cleared of tax evasion.
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ldf extended dta added
The UK has extended its Liechtenstein Disclosure Facility tax scheme, whereby taxpayers with undeclared offshore assets in Liechtenstein institutions may reveal them to the Revenue in return for reduced penalties, by just over a year.
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redknapps week in court
Harry Redknapp’s past week in court where yesterday he was accused of telling a pack of lies possibly could not have gone much worse.
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gentler more focused fatca unlikely
As FATCA watchers around the world keep checking their smartphones for news that the final guidance on the incoming US legislation has been issued, some experts are doubtful that the US Treasury will be able to keep to its recently-stated vow to try to make things easier for foreign financial institutions that will be affected.
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hmrc introduces contract for serious tax fraud
HM Revenue & Customs has overhauled the way it deals with investigations into the most serious cases of tax fraud.