Tax & Regulation
Ex-BSI banker jailed for forgery in Singapore’s IMDB scandal
A former senior BSI Bank vice president was jailed on Friday for 18 weeks by a Singapore court, for forgery and failure to disclose suspicious transactions as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
EU to crack down on advisers using ‘aggressive’ tax planning
Financial advisers could be forced to report “aggressive” tax planning schemes which help clients avoid paying tax, according to new plans being considering by the European Commission.
North America | 10 Nov 16
US Republicans want Fatca repeal despite $10bn tax haul
The US Foreign Account Tax Compliance Act (Fatca) could be repealed when Donald Trump becomes president if the Republican Party sticks with its 2016 policy platform, despite more than $9.9bn (£8bn, €9bn) being paid through voluntary compliance efforts.
Tax & Regulation | 10 Nov 16
Financial crime will ‘mutate and morph’: FCA chief
It would be unwise to say that financial crime has been beaten as it will always “mutate and morph”, according to Andrew Bailey, chief executive of the UK’s Financial Conduct Authority (FCA).
Singapore confirms ex-offenders can work in financial services
The Monetary Authority of Singapore (MAS) has no rules against hiring ex-offenders for positions in the financial services sector, deputy prime minister Tharman Shanmugaratnam has confirmed.