11th February 2018
Former Credit Suisse client adviser Patrice Lescaudron was sentenced to five years imprisonment by a Geneva court on Friday for abusing the trust of clients and putting in place a fraudulent scheme that brought him tens of millions of francs. Lescaudron, who is French, appeared in court for the verdict… Read More
8th February 2018
The Financial Conduct Authority (FCA) and Information Commissioner’s Office (ICO) have published a brief update on the upcoming EU General Data Protection Regulation (GDPR), addressing some issues raised by firms. GDPR comes into effect in the United Kingdom on 25 May this year, however, firms apparently still need clarity about… Read More
6th February 2018
A UK company helped the circle of Ukraine’s disgraced ex-president profit from last year’s Eurovision Song Contest, a BBC investigation has found. A Kiev exhibition centre paid to host some Eurovision events is owned through a Hertfordshire-registered company. At least £1.2bn has been funnelled through companies registered at the… Read More
26th January 2018
Authorities in Saudi Arabia are still holding 95 people in an anti-corruption campaign launched by the crown prince in November, according to the kingdom’s attorney general. In an infographic cited by Saudi-owned Al Arabiya on this week, the attorney general said 90 detainees had been released after having… Read More
17th January 2018
A significant number of British multinational corporations have undisclosed compliance problems and many are reluctant to speak out because they fear that their issues will be revealed, according to analysts. A survey of compliance leaders across 537 multinational companies with a UK turnover of £1 billion or more found that… Read More
5th January 2018
Former lawyer Charles Randell (CBE) has been appointed as the new chair of the Financial Conduct Authority (FCA), taking over from John Griffith-Jones in April this year. Randell worked for law firm Slaughter and May for 13 years, specialising in corporate finance law. He also worked on financial… Read More
4th January 2018
Switzerland’s largest and wealthiest canton saw a three-fold rise in the number of tax cheats turning themselves in during 2017, Zurich officials said on Thursday, as an international accord to share information on offshore wealth takes effect. The finance department said 6,150 Zurich taxpayers came clean on previously undisclosed assets… Read More
28th December 2017
More than $500 million has been recouped by tax authorities worldwide after the Panama Papers revelations, first published in April 2016. Spain alone collected $122 million after an investigation into the affairs of tax residents who had stockpiled money offshore. Among the countries represented in the Panama Papers data,… Read More
22nd December 2017
An offshore firm connected to the Paradise Papers has been ordered to pay almost €53m after a court ruled it had “manufactured” correspondence in a deliberate attempt to help a mother hide money from her estranged daughter. Appleby Mauritius, an offshore services firm owned by the law firm Appleby until… Read More
21st December 2017
Search warrants issued to raid the homes and offices of four former partners at KPMG in Belfast were unlawful, the High Court has ruled. Judges indentified faults in statements used to support applications for permission to trawl their premises. The raids were part of an investigation into suspected tax… Read More