Tax & Regulation
Commodities | 23 Feb 16
IMF calls on Gulf nations to widen their tax base
The newly-reappointed head of the IMF has called on Gulf countries to re-engineer their tax systems and consider greater use of corporate income taxes, as well as property and excise taxes to bolster government revenues in the face of lower oil prices.
Tax & Regulation | 23 Feb 16
FCA fine WH Ireland £1.2m for market abuse failures
UK wealth manager WH Ireland has been fined £1.2m ($1.7m) and restricted for 72 days from taking on new corporate broking clients for failing to sufficiently protect against the risk of market abuse.
AIFMD having little impact on US fund managers
The scale of activity of US alternative fund managers in Europe has been barely affected by the introduction of the EU’s Alternative Investment Fund Managers Directive (AIFMD).
EU and Monaco sign tax transparency agreement
The EU and Monaco have signed a new agreement which ensures member states will receive the names, addresses, tax identification numbers, and dates of birth of any of their residents with accounts in the principality from 2018.
Chinese securities regulator chief replaced
Following months of market turmoil, the head of the China Securities Regulatory Commission (CSRC), Xiao Gang, was removed from his post and replaced by Lui Shiyu, the chairman of the Agriculture Bank of China.