Tax & Regulation
EU puts US on the clock for tax blacklist
If the US does not comply with the OECD Common Reporting Standard by June next year it faces being placed on the EU blacklist for non-cooperative jurisdictions, an EU top official has warned.
Bahrain follows UAE with long-term investor visas
Bahrain’s government has announced it is working on a law that will allow foreigners to obtain 10 year “self-sponsored” visas, in an attempt to boost the jurisdiction’s position as a foreign investment destination.
Hong Kong regulator fines wealth manager HK$5m
Wealth manager Noah Holdings was fined by Hong Kong’s regulator for failure to comply with several requirements, including know-your-client and due diligence matters.
UK regulator punishes advice firm for register failure
The Financial Conduct Authority (FCA) has taken strong action against a financial advice firm by cancelling its permissions after it failed to submit its regulatory returns.
Fines could drive UK pension cold-callers offshore
The UK Government has warned directors of companies who cold-call people regarding their pensions that they could be fined up to £500,000 ($663,562, €573,407), however one expert warns this may just drive their practices offshore.