Search Results for: law
Wall St. Bankrolls Ex-Executive as He Sues Over A.I.G. Bailout
September 24th, 2014
Maurice R. Greenberg, the former chief of A.I.G., has now raised several million dollars from three Wall Street investors to help cover the cost of the case. One might call it “chutzpah,” as several irate lawmakers did, or “rubbing ...
Switzerland seeks Double Tax on PEs
September 24th, 2014
The Swiss Federal Council has launched a consultation on changes to the flat-rate tax credit, which seeks to ensure double tax relief for permanent establishments of companies that are located in Switzerland. The proposed change affects permanent establishments in ...
French court charges UBS with €1.1 bn over tax fraud
September 23rd, 2014
A 1.1-billion-euro payment was imposed to Swiss Bank UBS by a French court by a French court, for allegedly helping rich French clients to hide money in Switzerland. The bank made an appeal in July after charges of tax ...
Mario Draghi: ECB should Become More Active
September 23rd, 2014
Mario Draghi says he won’t sit back and wait for stimulus to reach the economy. The European Central Bank president said a planned asset-purchase program shows that policy makers will steer the size of the institution’s balance sheet to ...
US SEC gives largest-ever Whistleblower Award of more than $30M
September 23rd, 2014
The U.S. Securities and Exchange Commission, or SEC, announced Monday that it will give out the largest-ever whistleblower award to an anonymous tipster who lives outside the country. The whistleblower will receive more than $30 million for providing crucial ...
Spain: a new destination for Chinese Investors
September 23rd, 2014
Strengthening commercial ties will be on the agenda when Spain’s prime minister, Mariano Rajoy, makes his first state visit to China. The purchase of the 25-story Edificio España by Mr. Wang’s conglomerate, the Dalian Wanda Group, for 265 million ...
Regulators Weigh Delay for Separating Banks’ Swaps Units
September 19th, 2014
U.S. banks may get another year to shift some swaps trading from their government-insured units as regulators respond to demands to give them more time, according to two people familiar with the talks. A delay until July 2016 in ...
BNP Paribas hires ex-U.S.Treasury official for compliance job
September 19th, 2014
BNP Paribas (BNPP.PA) has hired a former top official at the U.S. Treasury Department’s sanctions office, people familiar with the matter said, part of the French bank’s effort to build up its compliance department after its record settlement over ...
European Court decides to cut rate VAT on digital books
September 19th, 2014
The European Court of Justice has agreed that a reduced rate of value-added tax may be applied to books that are provided in digital form. The case concerned a publishing company that sought a preliminary ruling from the Finnish ...
Citigroup Tells Appeals Court of Its Argentina Quandary
September 19th, 2014
Citigroup has found itself in an awkward position: It must decide between defying a New York court order or a sovereign government, a move that it says would result in “grave sanctions” from Argentina. “We’re going to obey, and ...
