‘Draconian’ 200% tax penalty for offshore evaders
A 200% penalty will be imposed on tax evaders with offshore bank accounts who fail to declare under the New Disclosure Opportunity (NDO), it was announced in the Pre-Budget Report today (Dec 9th).
News
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Landsbanki depositors stage protest in Guernsey
Depositors who lost money in Landsbanki Guernsey held a protest outside the islands Government House today (Oct 7), a year to the day after the bank collapsed.
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RBC Wealth Management ramps up Asian operations
Royal Bank of Canada has consolidated its Far Eastern operations under a single brand, RBC Wealth Management Asia, and appointed a president and chief executive of the newly unified business.
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Budget reveals anti-tax evasion and avoidance measures, plus 50% bonus tax
UK Chancellor Alistair Darling today unveiled the 2009 Pre-Budget Report, in which he said new measures to tackle tax avoidance and evasion would be implemented, as well as a 50% tax on any bonus wort
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Commission disclosure edges closer in Hong Kong
Hong Kong’s regulator, the Securities and Futures Commission (SFC), is to push ahead with proposals to make intermediary commission disclosure mandatory as part of a wider beefing up of its investor p
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Investors continue to pile into Ucits funds as confidence returns
Net inflows into Europe-domiciled Ucits funds reached 38bn in July, contributing a 4% rise in Ucits and non Ucits assets over the month, according to the European Fund and Asset Management Associatio
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Tax evaders can now disclose online, says HMRC
HMRC has warned tax evaders they face “much higher penalties” and “full investigation” if they fail to come forward under the New Disclosure Opportunity (NDO), through which fines in most cases will b
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New sovereign-backed Islamic investment firm for Dubai
A new Islamic investment manager, Fajr Capital, backed by several sovereign wealth funds has launched in Dubai.
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Castlestone unveils Ucits III global macro fund
Castlestone Management has launched a Dublin-domiciled Ucits III version of its global macro fund, a multi-asset product providing exposure to a range of investments, including hedge funds and commodi
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Axa IoM becomes part of new business unit in restructure
Axa Isle of Man has come under the control of a new strategic unit, Axa Wealth, after a restructuring of the companys UK operations.
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ALIL and Bradford & Bingley Intl name new directors, post 20% deposit growth
Alliance & Leicester International (ALIL) and Bradford & Bingley International (BBIL) have appointed two new directors to their boards, in what appears to be the clearest sign yet that their parent, S
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Europeans pay more for their funds: Lipper research
Europeans pay more for their investment funds than US investors do, owing to higher distribution fees and other costs, according to a report by Lipper FMI, the funds research organisation.