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Adviser network Nexus Global expands to Latin America

Adviser network Nexus Global expands to Latin...

European IFA network Nexus Global (NXG) has expanded to Latin America with the addition of EBG International, a Chile-based advice firm that focuses on the financial planning needs of international executives across the region.

Published : 23, Feb 2017
KPMG blasts Harlequin boss over investor pay-back plan

KPMG blasts Harlequin boss over investor pay-back...

The independent trustee of Harlequin Property, the £400m ($509m, €454m) overseas property scheme facing ruin, has blasted the company’s chairman David Ames over how he intends to pay back stricken investors.

Published : 3, Feb 2017
IRS trawls for US tax evaders in Panama firm probe

IRS trawls for US tax evaders in Panama firm probe...

A federal court in the US state of Montana has authorised the Internal Revenue Service (IRS) to serve a ‘John Doe’ summons in a bid to uncover details of US taxpayers who may hold offshore accounts established by a Panama firm to evade paying tax.

Published : 27, Jan 2017
deVere launches private bank following St Lucia acquisition

deVere launches private bank following St Lucia...

deVere Group, one of the world’s largest independent financial advisory organisations, has launched its own private bank on the Caribbean island of St Lucia.

Published : 23, Jan 2017
Brazil nets $15.7bn in tax amnesty

Brazil nets $15.7bn in tax amnesty

More than 25,000 individuals and 103 companies voluntarily declared offshore assets worth more than BRL169.9bn via a Brazilian amnesty, netting the taxman BRL50.9bn (£12.8bn, $15.7bn, €14.3bn) in taxes and penalties.

Panama looks to draw a line under Mossack Fonseca data leak

Panama looks to draw a line under Mossack Fonseca...

Panama is planning to take action against those accusing it of being a tax haven, as the country continues its efforts to draw a line under the Panama Papers data leak that saw millions of documents stolen from law firm Mossack Fonseca.

Published : 8, Sep 2016
Julius Baer hires HSBC bankers for LatAm push

Julius Baer hires HSBC bankers for LatAm push

Swiss wealth manager Julius Baer Group has hired several private bankers from HSBC to bolster the firm’s Latin American business, according to media reports.

Published : 16, Aug 2016
Key figures resign from Panama’s tax evasion investigation

Key figures resign from Panama’s tax evasion investigation...

Nobel Prize-winning economist Joseph Stiglitz and Swiss anti-corruption expert Mark Pieth have resigned from an international committee investigating offshore tax evasion due to government interference, it has been revealed.

Published : 8, Aug 2016
Belize offshore bank sees a run on deposits after Fatca probe

Belize offshore bank sees a run on deposits after...

An offshore bank in Belize, owned by prominent UK businessman Lord Ashcroft, has seen a sharp outflow of deposits following a US crackdown on tax evasion.

Published : 3, Aug 2016
Lionel Messi sentenced to 21 months for tax fraud

Lionel Messi sentenced to 21 months for tax fraud...

Argentinean footballer Lionel Messi has been sentenced to 21 months in prison for tax fraud by a Spanish court after being found guilty of defrauding Spain of €4.1m (£3.5m, €4.6m) between 2007 and 2009.

Published : 6, Jul 2016
RSA’s £403m sale of LatAm unit approved by Mexican regulator

RSA’s £403m sale of LatAm unit approved by Mexican...

Mexican insurance regulator National Commission of Insurance and Finance (CNSF) has approved the sale of the local arm of UK-based RSA Insurance Group by Colombia's Grupo Sura.

Published : 10, Jun 2016
BRICs still a viable investment theme, says Goldman Sachs

BRICs still a viable investment theme, says Goldman...

BRIC nations should still form up to 50% of any broad emerging markets exposure, said Kathryn Koch, head of global portfolio solutions at Goldman Sachs Asset Management.

Published : 30, May 2016
Argentina offers new tax amnesty

Argentina offers new tax amnesty

In a bid to capture undeclared funds and assets from Argentines at home and overseas, Argentina's national government has confirmed that it will offer a new tax amnesty this year.

Published : 18, May 2016
Panama Papers database a security risk for those named

Panama Papers database a security risk for those...

Even though information contained in the Panama Papers database is “incomplete and in places incorrect”, it still poses a security risk for those named, according to Mark Davies, managing director of Mark Davies & Associates.

Published : 13, May 2016
How compelling is Brazil’s fixed income story?

How compelling is Brazil’s fixed income story?...

Amid the political turmoil, Brazil has done well for fixed income investors, but questions remain around further volatility.

Published : 11, May 2016
Argentina debt mispriced given regional risks, says Kames

Argentina debt mispriced given regional risks,...

Returning to the international market after a 15-year hiatus, Argentina raised $16.5bn in an oversubscribed debt offering last month, the largest ever for an emerging market. But, according to Scott Fleming, manager of the Kames Emerging Market Bond Fund, the risk was not appropriately priced.

Published : 5, May 2016
BlackRock on Brazil: “If not now, then when?”

BlackRock on Brazil: “If not now, then when?”

A double whammy of political change and an upswing in commodities is a huge boost for the investment case for Brazil, according to BlackRock’s Will Landers.

Published : 27, Apr 2016
Panama organised crime unit raids Mossack Fonseca HQ

Panama organised crime unit raids Mossack Fonseca...

The headquarters of Mossack Fonseca, the law firm at the centre of the biggest financial data leak in history, were raided by police in Panama on Tuesday, the attorney general's office has revealed.

Published : 13, Apr 2016
Panama president vows to improve transparency with ‘panel of experts’

Panama president vows to improve transparency...

In a televised address, president Juan Carlos Varela has said that Panama will create an international ‘panel of experts’ to help improve transparency in its offshore financial industry, in the wake of the ‘Panama Papers’ scandal.

Published : 7, Apr 2016
Brazil offshore tax amnesty signed into law

Brazil offshore tax amnesty signed into law

Residents of Brazil with undeclared offshore assets can now voluntarily declare and regularise their tax affairs without facing criminal prosecution and only face a one-off charge and penalty.

Published : 19, Jan 2016

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