IO Daily
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Wednesday 17/3/2010
IO
News: SmartPool Enlightens Dark Traders
SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, has announced that it is launching a new service designed to help traders and other market users access, interpret and navigate the post trade data published by European 'dark trading' venues.
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Wednesday 10/3/2010
IO
News: US Wants Maximum Jail-Time For Petters
Prosecutors for the United States government are urging US District Judge
Richard Kyle to give convicted investment fraudster, Thomas Petters,
the maximum jail sentence possible - 335 years - for perpetrating a
USD3.65bn fraud scheme.
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Tuesday 9/3/2010
IO
News: Hong Kong Makes Hay
Secretary for Financial Services and the Treasury Professor KC
Chan said in New York at the weekend that Hong Kong's favourable
policies for the offshore fund industry
reinforces its position as Asia's premier asset management centre.
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Monday 8/3/2010
IO
News: CESR Seeks Shorting Restrictions
In a report submitted as technical advice to European institutions, the Committee of European Securities Regulators has recommended the introduction of a pan-European disclosure regime for net short positions in shares.
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Friday 5/3/2010
IO
News: Soros Joins The Gold Rush
In spite of his view that the rampant price of gold is a bubble that
threatens to burst, George Soros, one of the world's leading hedge fund
managers, is buying into the precious metal on a large scale.
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Thursday 4/3/2010
IO
News: Investable Hedge Fund Indices Launched
Greenwich Alternative Investments, a leading source of hedge fund industry data, has announced the launch of seven new investable hedge fund indices to complement its existing lineup of actively managed, strategy-based investable indices.
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Friday 26/2/2010
IO
News: SEC Approves Short Selling Restrictions
The US Securities and Exchange Commission has adopted a new rule to place certain restrictions on short selling when a stock is experiencing significant downward price pressure. The measure is intended to promote market stability and preserve investor confidence.
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Thursday 25/2/2010
IO
News: Investors Sell Ahead Of Possible UK Tax Hike
Property consultants have reported a significant rise in the number of second home-owners and long term investors in central London putting their properties up for sale as speculation grows that the government will increase the capital gains tax rate in the 2010 budget, due to be announced in the coming weeks.
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Wednesday 24/2/2010
IO
News: Has The Dubai Property Market Bottomed?
The head of one of Dubai's largest property companies believes that the crisis in Dubai's sliding real estate market is largely over and that prices will decline no further, although a recovery in the city's market is not expected to take hold until next year.
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Monday 15/2/2010
IO
News: Lords Criticize EU Hedge Fund Directive
Echoing sentiments expressed recently by a senior official from the Financial Services Authority, members of a House of Lords committee have warned that plans for regulating hedge funds at European Union level are unworkable as they currently stand and could lead to a loss of competitiveness for European alternative investment funds.
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Friday 12/2/2010
IO
News: UCITS Hedge Fund Offerings Proliferate
More than 200 hedge fund offerings now comply with the European Union's UCITS III guidelines, reflecting the continued evolution of the industry to meet institutional investor standards, according to Hedge Fund Research Inc.
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Wednesday 10/2/2010
IO
News: Euro Comes Under Attack; Sterling Under Pressure
Hedge fund managers and traders are lining up huge bets against the euro as concerns grow that the debt crisis in Greece and Spain's precarious fiscal position will weight down on the single European currency. Shaky confidence in the UK's ability to meet its debt obligations has also led one prominent hedge fund manager to label it a doomed currency.
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Tuesday 9/2/2010
IO
News: Hedge Funds Return To UK Property
Hedge funds are showing renewed interest in London's commercial real estate sector as low interest rates and more confidence among investors over economic prospects fuel demand in the asset class, not just in the UK but globally.
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Thursday 4/2/2010
IO
News: Congress Examines Plans to Rein In Wall Street
President Obama's plans to preclude the country's largest banks from running their own hedge funds and other proprietary trading activities have received the support of a key Senate lawmaker during their first examination by Congress, although now that the Democrats have lost their Senate 'super majority,' the proposals may have to be watered down if they stand a chance of becoming law.
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Friday 29/1/2010
IO
News: Sarkozy Wants To Clip Banks' Wings
French President Nicolas Sarkozy has told a meeting of the World Economic Forum in Davos that fundamental changes to global capitalism are needed if a repeat of the financial crisis is to be avoided, including new rules to stop banks and their hedge funds from 'speculating,' and an end to freely-floating currency regimes.
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Tuesday 26/1/2010
IO
News: Surveys Find Trend Towards Equities
Two recent surveys are showing a trend towards more investment in equities. The BofA Merrill Lynch survey attributes this to greater risk appetite; Scorpio Partnership suggests it is at the expense of the hedge funds.
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Monday 25/1/2010
IO
News: No Progress On Savings Tax Directive
The EU's Ecofin Council (the bloc's decision body for financial regulation)
met this week under the Chairmanship of Ms Elena Salgado, Second Vice-President
of the Spanish Government, and unsurprisingly failed to make any progress on
revisions to the Savings Tax Directive.
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Friday 22/1/2010
IO
News: Dubai Oil Trading Is Entrenching Itself
The Dubai Merchantile Exchange, which trades oil, has reported a positive year
for 2009. Liquidity has increased with trading volumes achieving a 69% year-on-year
increase and average daily volumes approaching 3,000 lots in the last quarter.
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Thursday 21/1/2010
IO
News: More Good News For Hedgies
Further evidence has emerged of the recovery of the hedge fund sector in 2009
with the publication of figures by The Eurekahedge Report this week showing
an eighth straight month of asset growth, although inflows accounted for only
a small part of total gains of USD4.6bn. Total assets reached nearly USD1.5
trillion, said the Singapore-based firm, showing growth in the year of nearly
20%, matching or exceeding equity and bond market gains.
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Network Alternative Investment Related News
> Archive
17/3 UBS Confirms Non-US Tax Information Requests Within its annual report for 2009, the Swiss bank, UBS, has disclosed that, following
its settlement agreement with the United States Internal Revenue Service, it has received requests for information from a number of other jurisdictions
relating to its provision of cross-border wealth management services.
16/3 Tax Regularisation Explained For Italian Expatriates In a recently-issued circular, the Italian Revenue Agency has given instructions
for Italians working outside of Italy, whether for state institutions or private
companies, who wish to regularize the non-declaration of any funds they hold abroad.
16/3 Mexican Film Tax Breaks Announced Mexican President Felipe Calderón has launched an initiative, called the 'High Impact Support For Film and Audiovisual Industry Program' to make Mexico the 'capital of Latin American cinema', during a visit to the Baja Studios in the state of Baja California.
16/3 FASB Issues Standards Update In an attempt to address queries about the intended breadth of the embedded
credit derivative scope exception, the US Financial Accounting Standards Board has issued an Accounting Standards Update on Derivatives and Hedging.
15/3 VCT Benefits Highlighted New research published by the Association of Investment Companies (AIC) has highlighted the role played by venture capital investment in the development of many of the UK's small businesses, and has called on the government to maintain its support for the sector.
16/3 Hong Kong Property Taxes Reviewed Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget
speech at the Joint Business Community Luncheon on March 12 and, in particular,
reviewed the tax measures taken to increase the transaction cost of property speculation
so as to reduce the risk of a property bubble being created.
15/3 Innovation Ireland Report Released The Innovation Taskforce report launched on March
11 by Irish Prime Minister Brian Cowen, has recommended a range of measures
designed to help ensure that the Ireland of the future will be an innovative,
high-value and export led economy.
12/3 Orascom Loses Algerian Tax Appeal Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary,
Orascom Telecom Algérie, has received a rejection to its appeal,
made in December last year, against the notice for taxes and penalties it had
received from the Algerian tax authorities the month previously.
15/3 Jersey Riding Out Onshore Storm Jersey will overcome the evolving challenges being faced by offshore international
financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants
at a Breakfast Briefing in London.
15/3 Germany Approves Liechtenstein TIEA Germany’s Cabinet has recently approved a bill pertaining to the bilateral
tax information exchange agreement with Liechtenstein.
15/3 Baucus Seeks Trade Preference Reform Senate Finance Committee Chairman Max Baucus is leading
efforts for reform of US trade preference programs accorded to
developing countries.
15/3 BVI To Review Taxes And Fees British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory
will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.
12/3 Swiss-German Tax Talks Resume During a recent visit to Berlin, Switzerland’s State Secretary Michael
Ambühl, Head of the State Secretariat for International Financial Matters in the Federal Department of Finance, met with representatives of
Germany's Federal Ministry of Finance and Federal Chancellery to exchange ideas
on current financial and tax policy issues.
12/3 MEPs Push EU Tobin Tax In a recently adopted resolution, the European Parliament has emphasized the
need to develop plans for a global tax to discourage excessive risk-taking by
financial institutions and to ensure that the financial industry pays for damage
caused by the financial crisis.
12/3 Bahamas Achieves White-Listing The Bahamas has achieved a place on the Organization for Economic Cooperation and Development's ‘white list’ following
the signing of Tax Information Exchange Agreements with the seven Nordic economies of
Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, on
March 10.
12/3 French 'Super Authority' Launches French Finance Minister Christine Lagarde has announced that the new supervisory
authority, ACP, has now been set
up, and will act as a 'super authority' to strengthen regulation of
the country's banks and insurance companies.
11/3 Bahrain And UK Sign DTA The Kingdom of Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed
Al Khalifa, and UK ambassador, Jamie Bowden, signed
a comprehensive double taxation agreement between the two countries in Manama
on March 10.
11/3 Swiss Financial Centre Plan Unveiled Switzerland’s ruling Liberal party, the FDP, has announced its intention to adopt
a more developed and concrete strategy for the Swiss financial centre, in order
to address the challenges it faces and to proactively strengthen its
position.
11/3 Deloitte UK Offers Year-End Tax Tips Tax advisory firm, Deloitte has urged UK taxpayers to avail of all outstanding
available tax reliefs, for income tax, capital gains and inheritance tax, to
reduce their individual tax liability, before the start of the next fiscal year.
11/3 Lord Paul Relinquishes Non-Dom Status Lord Paul, a Labour member of the House of Lords and a major
financial backer of the UK's governing party, has said that he intends
to relinquish his non-domiciled status for tax purposes and pay full UK
taxes on his income.
10/3 Dubai Woos North American Investors The Dubai International Financial Centre on March 8 hosted a delegation
from the American Chamber of Commerce Executives, an association for
chamber of commerce professionals in the United States and Canada, aimed at
enhancing financial services synergies between the emirate and the two nations.
11/3 Germany's CDU Favours Bank Tax Germany’s Christian Democratic Union party are eager to levy a special
tax on banks as a contribution to the cost of rescuing the financial sector.
10/3 Guernsey Funds Value Increases End of year figures released on March 8, by Guernsey Finance, the promotional
agency for the island’s finance industry, show that the value of investment
funds in Guernsey increased by GBP2.7bn (1.5%) during the final three months
of last year.
10/3 India To Expand TIEA Network India’s Prime Minister, Manmohan Singh, has announced his intention to expand
the country’s Tax Information Exchange Agreement network, starting with
Bahamas and Bermuda, with whom India has already agreed the text of an agreement.
10/3 New UK Trust Law Brings Greater Flexibility UK law firm, Boodle Hatfield, has observed that new trust legislation, due
to enter into force on April 6, will allow those looking to establish new trusts
greater flexibility.
9/3 Jersey To Showcase Island In UAE As part of Jersey’s aim to promote the island to new markets, Jersey Finance
will visit Abu Dhabi and Dubai next week to promote the benefits of using Jersey
for structuring transactions and for the management of private wealth.
9/3 DFSA Signs MoU With French Regulator Dubai’s Financial Services Authority on March 5 signed a Memorandum of Understanding
with the Autorité des marchés financiers of France, the French
securities regulator.
9/3 St Kitts And Nevis Nears White List The Caribbean federation of St Kitts and Nevis signed its tenth Tax Information
Exchange Agreement with Australia at a ceremony on March 5.
8/3 BVCA Releases Budget Submission In a submission to the UK government ahead of the budget, the British Venture Capital Association has welcomed efforts to facilitate the development the growth and development of small businesses, but has argued that further action could be taken in this area without imposing additional cost.
9/3 Guernsey Releases Bank Deposit Figures Guernsey’s banking sector is in a more positive position than the continuing
decline in deposit levels might suggest, according the head of the promotional
agency for the Island’s finance industry.
9/3 IoM Company Fees To Rise The Isle of Man government has provided details of changes, announced in the
February budget, to company registration rules, including increases to certain company fees.
9/3 Caribbean Explores Fiscal Cooperation Ahead of the World Bank meeting, to be held on March 11-12, where CARICOM Finance
Ministers will meet to discuss challenges that the region faces, CARICOM Secretary
General, Edwin Carrington said it was vital for Caribbean economies to increase economic cooperation and remove fiscal barriers, for the prosperity of the region going forward.
9/3 Germany Debates Stolen Data Law According to legal experts from both the Christian Democratic Union and
the Free Democratic Party, a law must be drawn up in order to prohibit the
purchase of stolen tax data discs.
8/3 Australia, San Marino Sign TIEA Australia’s Assistant Treasurer, Nick Sherry, on March 5 announced the
signing of a Tax Information Exchange Agreement with San Marino, which will
allow for the exchange of taxpayer information between the two countries’
tax authorities.
8/3 Demand Grows For Tax Transparent Vehicles There has been steady growth in popularity of tax transparent pooling vehicles across the investment community in recent years, as investors embrace these vehicles to facilitate economies of scale, efficiency and improved performance, according to BNY Mellon.
8/3 Switzerland Postpones UBS Inquiry Switzerland’s Council of States has elected to postpone the setting up of
a special commission to investigate the UBS case, sparking outrage from the country’s
lower chamber of parliament.
8/3 Hong Kong To Shed Light On 'Dark Pools' The Hong Kong Securities and Futures Commission is monitoring the operation of ten 'dark
pools' - facilities allowing securities transactions to occur outside traditional exchanges - which it has become concerned about.
8/3 German U-Turn On Tax Data Disc In a dramatic about-turn, the German government has made known its intention
to press ahead with the purchase of the tax data disc offered to federal state
Baden-Württemberg.
5/3 DME Sees Record Trading The Dubai Mercantile Exchange announced on March 4 that a new record total open
interest of 19,867 was achieved in its flagship DME Oman Crude Oil Futures Contract in February 2010.
5/3 Cayman Economy Struggles The Cayman Islands Economics and Statistics Office has released its Economic
Report for the Third Quarter of 2009, showing further deterioration in the island’s economy
in all but the banking sector.
5/3 Judge Slams ATO Tax Rulings During a speech to the annual convention of the Taxation Institute of Australia,
Richard Edmonds, a judge of the Federal Court specializing in tax affairs, has
strongly criticized the law central to the recent draft rulings by the Australian
Taxation Office on the tax treatment of private equity investments by foreign
investors.
5/3 Bahamas Enhances Business Environment In his mid-year budget presentation to Parliament, Bahamas Prime Minister Hubert Ingraham addressed
improving the business environment, touching specifically on the streamlining
of the regulation of the financial services sector.
5/3 New Swiss-Dutch DTA Signed It has recently emerged that Switzerland and the Netherlands have signed a new
double taxation agreement.
5/3 Russia Discusses VC Incentives Russia's ministry of economic development has countered last month's ministry of finance proposals to stimulate innovation and modernization of the economy with a much more adventurous tax incentive package for venture capital, including capital gains tax holidays.
4/3 Canada To Amend Trust Tax Canadian Minister of Finance, Jim Flaherty last week announced his intention
to propose amendments to the Income Tax Act that will be beneficial to employee
life and health trusts.
4/3 IoM To Extend Ombudsman Scheme The Isle of Man Office of Fair Trading has issued proposals to extend the remit
of the Financial Services Ombudsman Scheme to include the category of Money
Transmission Services.
4/3 IoM To Change Fund Regulations The Isle of Man Financial Supervision Commission on March 1 launched a consultation
on amendments to Authorised Collective Investment Schemes Regulations, which
have been drafted in order to maintain equivalence with the UK Financial Services
Authority’s requirements.
4/3 Cayman Report Rejects Direct Taxation An academic report examining the fiscal challenges facing the Cayman Islands
has rejected the UK government’s recommendation that the Caymans should
introduce direct taxation to solve its financial difficulties.
4/3 Ireland To Strengthen Regulatory Regime A new Annual Regulatory Forum, focused on ensuring that the economic regulatory
system in Ireland is ‘fit for purpose,’ robust and responsive to
changing economic, environmental and social needs, has been announced by Irish
Prime Minister, Brian Cowen.
4/3 MEPs Push Transactions Tax According to the European Development Committee, European member states
must not only deliver on their international aid pledges, but must also introduce
a financial transactions tax and a temporary debt moratorium, in order to help
developing countries to cope with the effects of the global financial and economic
crisis.
Alternative Investment News Archive |
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New On The Lowtax Network Today
This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below. |
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| TODAY 16/03: Hungary
Summary PBTG Guide, added to Personal Business Tax Guide |
| 15/03 Lowtax
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Search Puzzle, on Lowtax |
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For All,
Jeremy Hetherington-Gore blog |
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Summary PBTG Guide,
added to Personal Business Tax Guide |
| 04/03 New
Lowtax Editor Column,
by Kitty Miv |
03/03  Personal
Business Tax Guide, PBTG, has launched!
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- A Stately Business Dome Decreed, Investors Offshore special feature
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| 15/02 Lowtax
Australia,
major content expansion
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| 27/01 Lowtax
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A topical guide to offshore e-commerce focused on tax and regulation. |
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One of the web's largest and most authoritative business and investment
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The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
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