Dubai issues Hedge Fund Code of Practice

20-Dec-2007

The Dubai Financial Services Authority has issued a hedge fund code of practice, the first of its kind to be issued by any regulator. It sets out best practice standards for operators of hedge funds in the Dubai International Financial Centre.
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UK to release funds from dormant accounts

13-Dec-2007

A Dormant Bank and Building Society Accounts Bill was introduced into the UK parliament on 7 November to provide the legislative framework for a scheme to allow monies to be released from unused bank and building society accounts to fund community ...
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New UK money laundering regulations due in force

13-Dec-2007

The UK authorities are urging businesses to be prepared for the new money laundering regulations that come into effect on 15 December 2007. The new rules will apply to money service businesses (MSBs), trust or company service providers (TCSPs), high ...
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Gaines-Cooper loses appeal on UK domicile

13-Dec-2007

British businessman Robert Gaines-Cooper has lost his appeal against a decision by the UK tax courts over his status as domiciled in the Seychelles rather than in the UK. Last November, the Special Commissioners found that Gaines-Cooper had not given up ...
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UK Offshore Disclosure Facility nets £400 million

7-Dec-2007

Some 45,000 UK holders of offshore bank accounts have voluntarily disclosed previously undeclared tax liabilities under the partial amnesty offered by HM Revenue & Customs. A total of £400 million was paid into the Treasury by the 26 November ...
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