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UBS Tax Evasion Controversies
The Swiss Investment banking, investment bank and financial services company, UBS, UBS Group AG, has been at the center of numerous Tax evasion in the United States, tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of UBS#Banking secrecy, their strict banking secrecy practices. The first major tax evasion controversy the bank was involved in occurred in 2007. Bradley Birkenfeld, an American banker stationed at UBS Switzerland AG, broke Banking in Switzerland, Swiss banking secrecy laws to disclose client information to the U.S. United States Department of Justice, Department of Justice (DOJ) alleging suspected tax evasion. After the DOJ opened an investigation, UBS was fined United States dollar, US$780 million and reached a limited deferred prosecution agreement that was seen as a historically significant event in the banking industry of Switzerland. Despite the brief lapse in banking secrecy, the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
- Panoramio (4612)
The hyphen-minus is the most commonly used type of hyphen, widely used in digital documents. It is the only character that looks like a minus sign or a dash in many character sets such as ASCII or on most keyboards, so it is also used as such. The name "hyphen-minus" derives from the original ASCII standard, where it was called "hyphen(minus)". The character is referred to as a "hyphen", a "minus sign", or a "dash" according to the context where it is being used. Description In early monospaced font typewriters and character encodings, a single key/code was almost always used for hyphen, minus, various dashes, and strikethrough, since they all have a roughly similar appearance. The current Unicode Standard specifies distinct characters for a number of different dashes, an unambiguous minus sign ("Unicode minus") at code point U+2212, and various types of hyphen including the unambiguous "Unicode hyphen" at U+2010 and the hyphen-minus at U+002D. When a hyphen is called for, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
LGT Group
LGT Group is the largest family-owned private banking and asset management group in the world. LGT, originally known as The Liechtenstein Global Trust, is owned by the princely House of Liechtenstein through the Prince of Liechtenstein Foundation and led by its family members H.S.H. Prince Max von und zu Liechtenstein (CEO) and H.S.H. Prince Philipp von und zu Liechtenstein (chairman). Organization LGT is headquartered in Vaduz, Liechtenstein, with a key presence in Zurich, Switzerland. The company maintains 3,405 employees in over 20 offices around the globe, Asia, Australia, Europe, the Middle East and North America. LGT operates through several divisions: * Private Banking - LGT Private Banking provides wealth management services to private clients * Alternative Asset Management - LGT Capital Partners is an alternative investment manager, with around $60 billion of capital invested in investment funds, hedge funds and private equity investments * Philanthropy and Impact ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss Financial Market Supervisory Authority
The Swiss Financial Market Supervisory Authority (FINMA) is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland. The FINMA is an independent institution with its own legal personality based in Bern. It is institutionally, functionally and financially independent from the central federal administration and the Federal Department of Finance and reports directly to the Swiss parliament. The FINMA is called german: Eidgenössische Finanzmarktaufsicht, french: Autorité fédérale de surveillance des marchés financiers, it, Autorità federale di vigilanza sui mercati finanziari. Its main name and its acronym are expressed in English so as to avoid the semblance of favouring any one of Switzerland's linguistic regions. Anne Héritier Lachat was Chairwoman of the Board of Directors from 2011 until 1 January 201 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hillary Clinton
Hillary Diane Rodham Clinton ( Rodham; born October 26, 1947) is an American politician, diplomat, and former lawyer who served as the 67th United States Secretary of State for President Barack Obama from 2009 to 2013, as a United States senator representing New York from 2001 to 2009, and as First Lady of the United States as the wife of President Bill Clinton from 1993 to 2001. A member of the Democratic Party, she was the party's nominee for president in the 2016 presidential election, becoming the first woman to win a presidential nomination by a major U.S. political party; Clinton won the popular vote, but lost the Electoral College vote, thereby losing the election to Donald Trump. Raised in the Chicago suburb of Park Ridge, Rodham graduated from Wellesley College in 1969 and earned a Juris Doctor degree from Yale Law School in 1973. After serving as a congressional legal counsel, she moved to Arkansas and married future president Bill Clinton in 1975; the tw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Associated Press
The Associated Press (AP) is an American non-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association. It produces news reports that are distributed to its members, U.S. newspapers and broadcasters. The AP has earned 56 Pulitzer Prizes, including 34 for photography, since the award was established in 1917. It is also known for publishing the widely used '' AP Stylebook''. By 2016, news collected by the AP was published and republished by more than 1,300 newspapers and broadcasters, English, Spanish, and Arabic. The AP operates 248 news bureaus in 99 countries. It also operates the AP Radio Network, which provides newscasts twice hourly for broadcast and satellite radio and television stations. Many newspapers and broadcasters outside the United States are AP subscribers, paying a fee to use AP material without being contributing members of the cooperative. As part of their cooperative agreement with the AP, most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act). Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annual reports ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disgorgement (law)
Disgorgement is defined by '' Black's Law Dictionary'' as "the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion." Overview Disgorgement is a remedy or penalty used in US securities law. For example, disgorgement of short-swing profits is the remedy prescribed by § 16(b) of the Securities Exchange Act of 1934. The second edition of ''American Jurisprudence'' states that: Although not labelled "disgorgement," recovery of profits from the wrongful use of a patent or copyright belonging to another person or entity has a long history in US law. The US Supreme Court, in ''Sheldon v. Metro-Goldwyn Pictures Corp.'', 309 U.S. 390, 399-400 (1940), stated: In ''Kokesh v. SEC'', 137 S. Ct. 1635 (2017), the US Supreme Court unanimously disagreed with the view of the Security and Exchange Commission (SEC) that disgorgement in the case was remedial but held that disgorgement payments to the SEC in the case were penalties. The decision r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Raoul Weil
Raoul Weil (born 13 November 1959) is a Swiss banker. Weil is best known as being the former chairman and chief executive officer of Global Wealth Management & Business Banking at UBS AG. Weil eventually became a member of UBS's group executive board. During Weil's tenure at UBS, the bank became embroiled in the 2008-09 U.S. tax evasion controversy, which led to Weil's voluntary departure from the bank after he was indicted by the U.S. Justice Department for allegedly offering help to thousands of UBS's U.S. clients who failed to pay their federal income taxes. Arrested in October 2013 during a trip to Italy, Weil has been extradited to the United States. On December 16, 2013, Weil was released on $10.5 million bail by the federal district court in Fort Lauderdale, Florida. The trial began in Ft. Lauderdale on October 14, 2014, and the jury found him not guilty on November 3, 2014. Early life Weil was born in Switzerland. Weil graduated from the University of Basel with a degree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BusinessWire
Business Wire is an American company that disseminates full-text press releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases, bloggers, social networks and other audiences. It is a subsidiary of Berkshire Hathaway. History Business Wire was founded in 1961 by Lorry I. Lokey. It started by sending releases to 16 media outlets in California. Business Wire launched its website in May 1995. In 2000, ahead of its main competitor PR Newswire, Business Wire ended the practice of distributing news to financial outlets 15 minutes before anyone else, to provide immediate, equal access to company information as noted by the SEC's fair disclosure regulation (Reg FD). Business Wire's first wholly owned European operation launched in 2001, with the opening of an office in London. On June 1, 2005, Business Wire entered the German Ad-Hoc market with a disclosure network for companies w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Racket (crime)
Racketeering is a type of organized crime in which the perpetrators set up a coercive, fraudulent, extortionary, or otherwise illegal coordinated scheme or operation (a "racket") to repeatedly or consistently collect a profit. Originally and often still specifically, racketeering may refer to an organized criminal act in which the perpetrators offer a service that will not be put into effect, offer a service to solve a nonexistent problem, or offer a service that solves a problem that would not exist without the racket. However, racketeers may offer an ostensibly effectual service to solve an existing problem. The traditional and historically most common example of such a racket is the "protection racket", in which racketeers offer to protect a business from robbery or vandalism; however, the racketeers will themselves coerce or threaten the business into accepting this service, often with the threat (implicit or otherwise) that failure to acquire the offered services will lead t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Laundering
Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In US law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money. In UK law the common law definition is wider. The act is defined as "taking any action with property of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that that property is the proceeds of a crime or obscure the beneficial ownership of said property". In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Offic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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