Tax & Regulation | 4 Jan 13
oldest swiss bank to close after 74m fine for
The oldest Swiss bank is to close, having been fined $74m by the US authorities, after pleading guilty to charges of assisting US citizens avoid paying tax.
HSBC Bank International closes branches in IoM and Guernsey
HSBC Bank International (HBIB) has completely closed down its Isle of Man and Guernsey centres for international clients who are based overseas, by surrendering its branch licences in both crown dependencies.
Tax & Regulation | 3 Jan 13
uks top tax cheats photographed receive 155
Thirty two of the UK’s top tax cheats received a total of more than 150 years in jail last year, as HM Revenue & Customs continued its crackdown on tax evasion.
slump in uk offshore bond sales continued
New business sales of UK-distributed offshore bonds continued to fall in the third quarter of 2012, as investors stayed away, and advisers concentrated on readying themselves for RDR.
insurance company and director acquitted
An insurance company and one of its directors in Hong Kong have been acquitted of aiding and abetting unlicensed sales of an investment fund.