Asset Management
My Friend the Ponzi Schemer
Jonathan Chambers on his former schoolmate turned financial shyster David Smith, currently facing fraud charges in the Caribbean
Times: N M Rothschild to face bonus tax
The Government is expected to extend the scope of its controversial banker bonus tax to ensure that the City house of N M Rothschild and other banks with non-standard year-ends do not slip through the net, The Times has learnt.
Time Flies When You're Hedging Funds
Only yesterday they were the pariahs of the business world, but hedgies are bouncing back quickly and are eager to reinvent themselves, says William Cash
Wealthy families, spooked, urgently looking at tax again
Over half of wealthy families have started to consider 'regularising' their tax affairs after being spooked by increased government scrutiny, according to a new survey. The survey found that 53.4 per cent had done so, but that half of these were worried by the possibility of unlimited historic reassessments, 39 per cent by penalties and 32 per cent by criminal sanctions.
Guardian: Hedge funds won't face leverage limits
London-based hedge fund managers are set to secure a partial victory in their battle against tougher European controls on their industry.
Tel: UBS fined £8m for control failures
UBS, the Swiss bank, has been fined £8m for system and control failures that enabled four London-based staff to use customers' money to trade in precious metals and currencies.
What should I put in my pension?
I have been making regular pension contributions for many years but have recently heard that with the reforms announced in this year’s Budget coming into effect, people should re-consider making pension contributions altogether. Is this true?
Reuters: EFG may go private, CEO says
ZURICH, Oct 28 (Reuters) - EFG International AG (EFGN.S), a Switzerland-based private bank and asset management group, could imagine going private, its chief executive was quoted as saying on Wednesday.
Notes from the Spear's/Speechly Bircham seminar
The event, which was attended by over 100 private client advisers from some of London's best asset management firms, was unusual because it melded the tax and privacy sides into a coherent and (we must add) entertaining format.
Guardian: Madoff beneficiary and friend found dead
A Florida billionaire who was a top beneficiary of Bernard Madoff's $65bn (£40bn) Ponzi scheme has died, apparently by drowning in the swimming pool of his mansion in the exclusive seaside enclave of Palm Beach.
Unbillable Hours
Our specialists solve your HNW problems (gratis!)
Q
I have been reading in the press recently that if you are not a UK citizen it is going to become more difficult to divorce in the UK. Is this true?
A
It is a fact that in recent years there has been an increase in ‘forum shopping’ divorces and London has been described as the divorce capital of the world.
Spear's Wire
The Hedgehog
Spear's Spiky Undercover Agent Dishes the Gossip
