Search Results for: VAT
Swiss Private Bank BSI SA Admits Aiding U.S. Tax Cheats, Will Pay $211 Million
March 31st, 2015
In a deal with U.S. prosecutors, Swiss private bank BSI SA agreed today to pay a $211 million penalty and hand over leads on more than 3,000 accounts with U.S. ties, as well as the actual names of an ...
Derivatives under MiFID II: Time for equal access
March 26th, 2015
Verena Ross, Executive Director of ESMA, recently delivered a keynote speech to the ABA/Law Society Capital Markets Conference in London. Her speech focused on the importance of increasing transparency in MiFID II “in a manner that does not “damage”, ...
FD acquires ActivateClients Limited for software development and mobile technology capabilities
March 24th, 2015
First Derivatives (AIM:FDP.L, ESM:FDP.I), a leading provider of software and consulting services, announces it has acquired the entire issued share capital of ActivateClients Limited (“ActivateClients”). The earnings enhancing acquisition provides complementary software products, particularly HTML5 capabilities, that are expected ...
Basel Committee and IOSCO revised implementation date for non-cleared derivatives margin rules
March 23rd, 2015
The International Swaps and Derivatives Association, Inc. (ISDA) published the following statement: The Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO) released revisions to the framework for margin requirements for non-centrally cleared derivatives. [The ...
China Construction Bank Extends Use of Catena TRACE for FX Derivatives Trade Reporting Using Hosted Platform
March 23rd, 2015
Catena Technologies Pte Ltd today announced that China Construction Bank has extended its use of Catena’s TRACE™ system to report foreign exchange derivatives to the Monetary Authority of Singapore. Along with the extended use for FX, the bank will ...
UBS faces ASIC scrutiny over privatisation report
March 23rd, 2015
Investment firm UBS is facing scrutiny from ASIC over an altered report on the NSW government’s electricity privatisation plans. A report, originally titled “Bad for the budget, good for the state” was later reissued with the title “Good for ...
VAT is changing, but do businesses know how to react?
March 18th, 2015
The start of 2015 brought changes to the way value added tax (VAT) is calculated for direct-to-consumer sales of electronically supplied services. While the changes have been in effect for nearly three months, many small UK businesses remain unaware ...
Citigroup, Barclays Close to Settling Forex Lawsuit With Private Investors
March 18th, 2015
Citigroup Inc. and Barclays PLC are expected to pay as much as $800 million combined to settle a lawsuit with investors who say the banks manipulated foreign-exchange rates, according to people close to the situation. The expected settlements would ...
Swiss Voters Reject Proposal To Replace VAT
March 13th, 2015
Swiss voters have resoundingly rejected a proposal to replace the value-added tax with an emissions-based levy. A referendum on the popular initiative, known as “Energy Rather than VAT,” was held on March 8. Had it been accepted by voters, ...
The Last, Great Run For The U.S. Dollar, The Death Of The Euro And 74 Trillion In Currency Derivatives At Risk
March 12th, 2015
Are we on the verge of an unprecedented global currency crisis? On Tuesday, the euro briefly fell below $1.07 for the first time in almost a dozen years. And the U.S. dollar continues to surge against almost every other ...
