Financial Regulatory Forum

Hidden Swiss funds must return in Italian tax amnesty

SANMARINO/    ROME, Oct 10 (Reuters) – Italians who hold undeclared funds in Switzerland, Montecarlo and San Marino must repatriate them to be covered by a new tax amnesty, unlike other countries and the EU, the Italian tax agency said on Saturday. (more…)

U.S. Treasury launches first toxic asset funds

U.S. Treasury launches first toxic asset funds
A "For Sale- Bank Owned" sign sits in front of a home in Pontiac, Michigan June 19, 2009. The decline of U.S. automakers has for years affected those who live in Pontiac. Now the city's dead look set to feel the pain as well. Mayor Clarence Phillips says "we can no longer afford" the $400,000 the city spends each year on the upkeep of cemeteries in light of fresh local plant closures and job losses at General Motors Corp, the largest employer and taxpayer in the city of 66,000. Picture taken June 19, 2009. REUTERS/Rebecca Cook (UNITED STATES TRANSPORT BUSINESS EMPLOYMENT)    WASHINGTON, Sept 30 (Reuters) – The first two funds involved in the government’s plan to purchase toxic assets have raised about $1.13 billion, the U.S. Treasury Department said on Wednesday. (more…)

FDIC proposals on banks buys draw fire as comments end

A pedestrian walks in front of a BankUnited branch in downtown Miami, Florida May 22, 2009. Florida-based BankUnited, which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said. Banking industry veteran John Kanas, who also took over as chairman, told Reuters that BankUnited planned no immediate layoffs among its work force of 1,100 and expected to expand branches in its Miami base while closing branches outside the city. REUTERS/Carlos Barria  (UNITED STATES POLITICS BUSINESS)   By Paritosh Bansal
   NEW YORK, Aug 10 (Reuters) – Lone Star Funds joined other big private equity names in opposing proposed U.S. rules for investments in failed banks, as a designated period for public comment on the draft regulations comes to an end on Monday.
(more…)

  •