Financial Regulatory Forum

Obama creates U.S. task force to fight financial crime

November 18, 2009

U.S. Attorney General Eric Holder speaks during  a news conference at the Justice Department in Washington to announce the establishment of a task force to investigate and prosecute financial crimes connected to the past year's financial crisis and to try to deter future fraud, November 17, 2009.  At rear is U.S. Treasury Secretary Tim Geithner.        REUTERS/Kevin Lamarque (UNITED STATES BUSINESS POLITICS CRIME LAW) By James Vicini and Jeremy Pelofsky
WASHINGTON, Nov 17 (Reuters) – The Obama administration created a new task force on Tuesday to crack down on financial fraud, an increasingly important political issue after a spike in mortgage scams and big Wall Street trading scandals.

U.S. offshore tax amnesty yields big response – IRS

November 17, 2009

U.S. Internal Revenue Service (IRS) Commissioner Douglas Shulman speaks during an interview with Reuters at his office in Washington October 8, 2009. REUTERS/Hyungwon Kang By Kim Dixon
WASHINGTON, Nov 17 (Reuters) – Some 14,700 rich Americans worried about a U.S. government crackdown on offshore tax cheats came forward to participate in a tax amnesty program, the top U.S. tax official said on Tuesday.

UBS warns US clients as tax amnesty deadline nears

September 18, 2009

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich July 1, 2009. By Kim Dixon
WASHINGTON, Sept 18 (Reuters) – UBS AG has formally warned wealthy American clients that secret Swiss accounts may be revealed to U.S. tax authorities after the Wednesday expiration of an amnesty program that could give them immunity from prosecution.

U.S. deepens review of Yahoo, Microsoft deal

September 11, 2009

The headquarters of Yahoo Inc. is pictured in Sunnyvale, California, May 5, 2008. WASHINGTON, Sept 11 (Reuters) – U.S. antitrust regulators have requested more documents in their probe of Microsoft Corp’s deal to provide search engine technology to rival Yahoo Inc, the two companies said on Friday.  Microsoft and Yahoo confirmed that the Justice Department’s antitrust division had made a second request for documents, which indicates a decision to conduct a deeper review that could take months.