North America
Best Practice | 16 Mar 18
US to shut $11bn offshore voluntary disclosure programme
The disclosure scheme that allows US taxpayers hiding offshore accounts to come clean and face more lenient penalties will close in September 2018, the Internal Revenue Service (IRS) announced this week.
Panama Papers take down law firm Mossack Fonseca
The law firm at the centre of the Panama Papers scandal, which saw millions of its private client files leaked to the media, has announced it is closing.
Prudential offloads £12bn annuity book as it carves out M&G
Prudential is selling £12bn ($16.7bn, €13.5bn) of its UK annuity portfolio in a landmark deal to Rothesay Life, as part of a major revamp that will see its UK and Europe business, M&G Prudential, become a separately-listed company.
Asset management chiefs share six industry concerns for 2018
The asset and wealth management industry is about to usher in a period of disruption, with cyber security threats a big concern, chief executives across the sector have warned.
Old Mutual hit with US lawsuit
South Africa-headquartered Old Mutual has confirmed it is facing a legal claim related to “pre-existing plc head office legacy items relating to previously disposed US assets”.