Grand Jury Charges Three Swiss Bankers with Concealing Assets for U.S. Taxpayers

A federal grand jury in New York Jan. 3 indicted three Swiss men working as client advisers to a Swiss bank for helping U.S. taxpayers hide more than $1.2 billion in assets…

Taxpayers Said to Fear Disclosing Assets as Foreign Bank Crackdown Continues

The Internal Revenue Service’s intense effort to get taxpayers to tell the government about their offshore assets may be running into difficulties even as IRS continues its crackdown on foreign banks that help taxpayers hide those assets…

Dozens of Stakeholders Raise Concerns on Burdens of FATCA Regime

Dozens of foreign banks, foreign insurance companies, professional associations including several based in Washington, and other stakeholders around the world are asking the Internal Revenue Service for exceptions and clarifications…

Geithner, EU’s Barnier Pledge to Cooperate on Regulatory Reform, Agree on Trading Rules Deadline

Treasury Secretary Timothy Geithner and European Union Internal Market and Service Commissioner Michel Barnier reaffirmed their commitment Oct. 29 to cooperate on…

BNA INSIGHTS: IRS Offshore Accounts Disclosure Program: A Critical Assessment After One Year

Exactly one year ago, the tax world watched as the Internal Revenue Service conducted what may have been the most extraordinarily…

IRS Unveils Comprehensive Guidance on Foreign Bank Reporting, Disclosure

The Internal Revenue Service Aug. 27 unveiled eagerly awaited guidance on the implementation of the Foreign Account Tax Compliance Act (FATCA), which imposed a host of new requirements…

Basel Committee Bends to Bank Pressure, Issues Modifications to Basel III

Bending to pressure from the world’s most powerful banks, the Basel Committee on Banking Supervision issues changes to its proposed…

Bank Regulators Release Guidance on Risks Posed by Correspondent Bank Relationships

Federal financial regulators April 30 released interagency guidance on risks posed by correspondent relationships…

FDIC, Bank of England Sign MOU on Bank Resolution, Planning Cooperation

The Federal Deposit Insurance Corporation and the Bank of England have signed a memorandum of understanding on expanded cooperation when the two bodies act…

2010 OUTLOOK — INTERNATIONAL BANKING: Financial Crisis, Cybercrime Push Cross-Border Harmonization Effort

Increasing international pressure to harmonize regulation will be one of the thorniest issues to face bank regulators in the coming year. Even before the current world financial crisis, experts…