08/08/2012

Swiss banks face slow death as taxman chases undeclared assets

#Western Europeans may pull as much as $139 billion, or 15 percent of their holdings, from Swiss banks, said Herbert Hensle of Cap Gemini. Bank Sarasin & Cie. AG reported last week that private clients withdrew 3 billion francs from Swiss locations in

08/06/2012

Ex-UBS Executive Told Colleague to Forget Rigged Deal

Heinz and Welty are charged along with Peter Ghavami, the former head of UBS’s municipal-derivatives group, with conspiracy to defraud municipal-bond issuers and U.S. tax authorities by fixing the prices on the investing agreements.

08/05/2012

US probe into bank manipulation of silver markets set to be dropped

US regulators have dropped a four-year investigation into manipulation of the silver market, according to reports. The decision, if true, will take pressure off JP Morgan and HSBC who were the main focus of legal complaint that sparked the regulatory pro

08/05/2012

RBS facing US money laundering investigation

The part-nationalised lender made the disclosure in its half year results on Friday, where it reported a loss of £1.5bn in the first six months of 2012 and set aside £125m to cover costs related to the recent IT problems.

08/02/2012

Former UBS Strategist Says He Was Pressured to Mislead

Trevor Murray was employed by UBS Securities LLC from May 2007 until he was fired in September 2009, and then returned to the company in May 2011, he said in a lawsuit filed today in federal court in Manhattan.

08/01/2012

UBS Whistle-Blower Released From U.S. Prison

He began serving a 40-month sentence in January 2010 at Schuylkill Federal Correctional Institution, and received good-time credit that reduced his term, said his attorney, Stephen M. Kohn. His brother, Douglas, drove him to a halfway house i

08/01/2012

US cancels reverse FACTA laws for non-residents

The move has stirred considerable opposition in Washington and from wealthy non-residents living in the US – and lawmakers buckled under the pressure in the fear that bringing in the rule would see a massive outflow of foreign investment.

07/31/2012

Fatca deadline looms for international banks

The tales of how difficult the bank found it to recover account files from branches around Mexico when law enforcement agencies requested them, and the details of minimal documentation on thousands of accounts opened in a virtual branch in the Cayman Isla