ZURICH, Sept 30 (Reuters) – Switzerland’s two global banks UBS and Credit Suisse may face tighter regulation than other domestic and international competitors, the country’s banking regulator FINMA said in a strategy paper published on Wednesday. (more…)
Financial Regulatory Forum
By Madeline Chambers
BERLIN, Sept 28 (Reuters) – German Chancellor Angela Merkel signalled on Monday she would resist pressure for radical reforms from her likely new coalition partners, the pro-business Free Democrats (FDP), and stick to a path of gradual change.
By Lisa Jucca, European Wealth Management Correspondent
ZURICH, Sept 17 (Reuters) – Swiss bankers on Thursday called for the introduction of a broad withholding tax on earnings generated by foreign wealth to end international pressure on bank secrecy at a time when client inflows are flat.
By Dicky Kristanto and Andreas Ismar
JAKARTA, Sept 16 (Reuters) – Indonesia’s parliament on Wednesday passed a revised law on value added tax (VAT) and sales tax on luxury goods, which could boost corporate mergers and spur the country’s fledging Islamic markets.
PARIS, Sep 8 (Reuters) – France wants its banks to provide more details on the identity of people transferring money to tax havens and wants a new legal framework to be finalised by the end of September, the budget ministry said on Tuesday. (more…)
MONACO, Sept 7 (Reuters) – Eleven of the world’s biggest reinsurers will work to find common positions on tax, solvency, accounting and other rules and avoid being tarred with the same regulatory brush as banks, the group said late on Sunday. (more…)
SYDNEY, Sept 4 (Reuters) – The Australian government plans to change the law to clarify that dividends paid to holders of debt-like securities may be eligible for a tax credit, under reforms to tax arrangements for financial securities.
By Andrea Hopkins
TORONTO, Sept 3 (Reuters) – Efforts by Canadian tax officials to pursue Swiss bank UBS <UBSN.VX> <UBS.N> won’t amount to much because politicians are distracted by a possible election and the country lacks enforcement clout.
By Lorraine Turner
LONDON, Sept 3 (Reuters) – The UK government’s move to block loans to the Cayman Islands is designed to disadvantage a competitive rivalry in financial services at a time when the UK sector itself is under threat, said the head of the islands’ regulatory agency on Thursday.