Tax & Regulation
Best Practice | 2 Nov 16
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.
Tax & Regulation | 2 Nov 16
Ex-BlackRock man Lyttleton pleads guilty to insider trading
Mark Lyttleton, a former fund manager at BlackRock, pleaded guilty on Wednesday to two counts of insider trading and will be sentenced on 21 December, the Financial Conduct Authority has confirmed.
North America | 2 Nov 16
US adviser faces CFP ban for conning athletes out of $33m
A professional body representing financial advisers in the US has temporarily banned one of its members for siphoning over $33m (£22.5m, €29.2m) from professional sports stars in an alleged Ponzi scheme.
FCA bans six for UK property scheme scam
Six of the eight men found guilty last year of a UK property fund scam, which defrauded investors of around £4.3m ($5.24m, €4.78m), have been banned by the Financial Conduct Authority (FCA) from performing any function in relation to any regulated activity in the industry.
Best Practice | 1 Nov 16
HMRC investigates tax bills of one third of UK’s richest
HM Revenue & Customs is investigating 6,500 high net worth individuals (HNWs) with a total case value of £1.9bn (€2.1bn, $2.3bn), according to a report by the UK’s National Audit Office released on Tuesday.