North America
North America | 30 Jan 17
Canadian reporting under Fatca doubled in 2016
Details of bank accounts belonging to more than 315,000 Canadian residents were shared with the US Internal Revenue Service (IRS) in 2016 under the Fatca agreement, more the double the previous year.
Latin America | 27 Jan 17
IRS trawls for US tax evaders in Panama firm probe
A federal court in the US state of Montana has authorised the Internal Revenue Service (IRS) to serve a ‘John Doe’ summons in a bid to uncover details of US taxpayers who may hold offshore accounts established by a Panama firm to evade paying tax.
US equity markets to ignore protectionist threat
If Donald Trump makes good on his proposal to impose tariffs on all imports from Mexico to fund the construction of a wall on the country’s border with the US, this will have a profound impact on the US economy and on the profitability of some US companies. Are markets right to ignore this threat for now?
North America | 27 Jan 17
Citigroup fined for overcharging 60,000 clients for advice
Citigroup Global Markets has agreed to pay $18.3m (£14.5m, €17.1m) to settle charges in the US that it overcharged around 60,000 clients £18m for advice and misplaced contracts over a 15-year period.
North America | 26 Jan 17
SEC charges US adviser in $1.3m ‘cherry picking’ scheme
The US Securities and Exchange Commission has charged an adviser with placing trades through a master brokerage account and allocating profitable trades to himself while passing unprofitable trades on to client.