|
Update on HSBC Tax Evasion Post – France Provided 24,000 Names To IRS
|
|
May 19, 2013 @ 9:17 am |
|
Just 10 days ago we wrote about Herve Falciani, a French and Italian citizen wanted by Switzerland for allegedly stealing customer account information. Switzerland wants him to stand trial for theft. The Spanish government, however, says the information possessed by Falciani documents widespread money laundering and tax evasion by HSBC clients. Spain’s National Court ultimately denied Switzerland’s extradition request.
New information revealed by The Economic Times indicates that Fa... Read Full Article
|
|
Quiet Disclosures (FBAR) Next IRS Target
|
|
May 19, 2013 @ 7:54 am |
|
The IRS believes that there are millions of Americans who have failed to file FBARs; short for Report of Foreign Bank and Financial Accounts. Taxpayers with offshore holdings of $10,000 or more are required to report those holdings to the IRS. The duty to report includes people merely having signature authority over a foreign account.
IRS outreach efforts have been quite poor. Many dual nationals, ex pats who are living overseas and foreign born Americans simply don’t understand the FBAR filing requirements. Beginning in 2009, the IRS offered a variety of amnesty programs to he... Read Full Article
|
|
Bullard on the 401(k) Plan Large Menu Defense
|
|
May 19, 2013 @ 5:22 am |
The Social Costs of Choice, Free Market Ideology and the Empirical Consequences of the 401(k) Plan Large Menu Defense, by Mercer Bullard, University of Mississippi - School of Law, was recently posted on SSRN. Here is the abstract: Regulatory reforms...... Read Full Article
|
|
Death Sentence for Chinese Woman Convicted of $70 Million Ponzi Scheme
|
|
May 18, 2013 @ 10:49 am |
|
A Chinese woman who masterminded a $70 million Ponzi scheme has been sentenced to death by a Chinese court - possibly by firing squad. Lin Haiyan, 39, from the Wenzhou province, received the sentence as part of a broader push by Chinese authorities to crack down on the underground lending industry that has found itself awash with cash as part of Chinese stimulus efforts. Haiyan is the latest of several women who have received a death sentence for their role in investment f... Read Full Article
|
|
Hundreds Of Americans Rip Up Passports To Avoid FATCA
|
|
May 18, 2013 @ 10:10 am |
|
A recent headline in IFC Review declared that hundreds of Americans were ripping up their passports to avoid FATCA. FATCA is short for the Foreign Account Tax Compliance Act, the law that will soon require banks and other financial institutions worldwide to report accounts with ties to U.S. taxpayers. The law’s implementation date has already been extended once and is now set to commence in 2014.
IFC quotes IRS figures and says that in the first quarter of 2013, 670 Americans have torn up their passports. They claim most have done so to avoid IRS reporting and FATCA. While the ... Read Full Article
|
|
Trolling for Dollars*
|
|
May 17, 2013 @ 3:27 pm |
|
This week’s spin of the Panel wheel landed imPaneled on a new proceeding that raises subject matter new to imPaneled. Despite having been raised among the world’s foremost patent litigators (which they would happily tell you themselves), imPaneled has neglected the many patent cases on the Panel dockets–until now.
Some people Read Full Article
|
|
Winston & Strawn Faces DQ Bid In Calif. City Bankruptcies
|
|
May 17, 2013 @ 2:59 pm |
Citing an alleged conflict of interest, the California Public Employees’ Retirement System told a California federal judge on Friday that Winston & Strawn LLP should be disqualified from representing a creditor in the Chapter 9 bankruptcies of the cities of Stockton and San Bernardino.... Read Full Article
|
|
JPMorgan Backs Dimon Before Shareholder Vote On Split Role
|
|
May 17, 2013 @ 1:06 pm |
JPMorgan Chase & Co. on Thursday urged shareholders to reject a proposal by activist investors that would split the CEO and chairman of the board positions, both of which are held by the embattled James Dimon, who presided over the company during its infamous $6.2 billion “London Whale” loss.... Read Full Article
|
|
|
RSS Subscription
|
Update on HSBC Tax Evasion Post – France Provided 24,000 Names To IRS
- Just 10 days ago
Quiet Disclosures (FBAR) Next IRS Target
- The IRS believes that there are millions of Americans who have failed to file...
|
SEC Charges Atlanta Resident with Fraud in Prime Bank Investment Scheme
- The SEC recently filed an emergency action in federal court in Atlanta, charging...
|
Bullard on the 401(k) Plan Large Menu Defense
- The Social Costs of Choice, Free Market Ideology and the Empirical Consequences ...
|
Death Sentence for Chinese Woman Convicted of $70 Million Ponzi Scheme
- A Chinese woman who masterminded a $70 million Ponzi scheme has been
|
Hundreds Of Americans Rip Up Passports To Avoid FATCA
- A recent headline in IFC Review declared that hundreds of Americans were ripp...
|
Trolling for Dollars*
- This week’s spin of the Panel wheel landed imPaneled on a new proceedin...
|
Winston & Strawn Faces DQ Bid In Calif. City Bankruptcies
- Citing an alleged conflict of interest, the California Public Employees’ R...
|
Hedge Fund Sues For Proxy Fight Rematch With Digirad
- Hedge fund Red Oak Partners LLC sued Wednesday seeking to force a rematch in its...
|
SAC To Scale Back Cooperation With Insider Trading Probe
- SAC Capital Advisors LLC reportedly informed its investors Friday that it was re...
|
JPMorgan Backs Dimon Before Shareholder Vote On Split Role
- JPMorgan Chase & Co. on Thursday urged shareholders to reject a proposal by acti...
|
Investor Says Bain's $7B Bid For Software Co. Is Too Low
- A pension fund that invests in Houston-based BMC Software Inc. on Thursday sued ...
|
Drug Co. Scores Partial Win In Suit Over Botched Offering
- A Delaware judge on Thursday granted a partial win to Emmaus Life Sciences Inc. ...
|
Company Control Not Just About Share Count, Chancery Says
- Vice Chancellor J. Travis Laster laid out a broad definition of “controlli...
|
Alternatives crackdown continues as Finra fines VSR
- More pain for broker-dealers as Finra fines another alternatives specialist. One...
|
Fewer advisers than expected switch to state oversight
- Back in 2009, regulators predicted that 4,000 investment advisers would shift fr...
|
Continental Ducks Shareholder Suit Over $313M Oil Asset Buy
- An Oklahoma federal judge on Thursday dismissed a lawsuit accusing Continental R...
|
ING Gave Morgan Stanley Kickbacks For 401(k) Biz, Suit Says
- An Alabama medical laboratory filed a proposed class action in New York federal ...
|
Credit Agricole Slams Lehman's $34M Terminated-Swaps Suit
- Credit Agricole Corporate and Investment Bank on Friday urged a New York bankrup...
|
What's now and what's next for Morgan Stanley's new trade tool
- Trade Flow Insights provides brokers with across-the-board product sales data an...
|
Rise Of The Machines — Predictive Coding Goes Mainstream
- The pros of using predictive coding far outweigh the cons. Given the heavy press...
|
Ex-Broker Gets Probation For Muni Bond Bid-Rigging
- After cooperating with a sweeping multistate investigation, the former CEO of a ...
|
Judge blocks $13 mln arbitration against SunTrust
- The federal judge's ruling prevents hedge fund Turnberry Capital Management from...
|
Rakoff Gives Dexia's $774M JPMorgan MBS Suit 2nd Life
- U.S. District Judge Jed S. Rakoff on Friday vacated an earlier decision dismissi...
|
Juniper Ducks Securities Suit Over Alleged Misstatements
- A California federal judge on Friday threw out a putative class action brought a...
|
Schwab Fund's Changes Breached Contract, 9th Circ. Hears
- Northstar Financial Advisors Inc. urged the Ninth Circuit on Friday to revive it...
|
Ex-financial adviser gets probation for muni bid-rigging
- The former chief of the now-defunct Kane Capital Strategies was sentenced to two...
|
SunTrust Blocks FINRA Arbitration In MBS Row
- SunTrust Banks Inc. on Friday won its bid to thwart a Financial Industry Regulat...
|
Elliott, Compuware Extend Standstill, Keep Proxy Door Open
- Elliott Management Corp., the hedge fund that offered to buy Compuware Corp. for...
|
Icahn Loses Transocean Dividend Fight, But Wins Board Seat
- Shareholders of offshore oil rigging giant Transocean Ltd. voted Friday to appro...
|

Banking on Fraud: Drexel, Junk Bonds, and Buyouts (Social Institutions and Social Change)
|

Robbing You With A Keyboard Instead Of A Gun: Cyber Crime - How They Do It (Volume 1)
|
|