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Posted on April 3rd, 2012
On 17 October 2011, Sir Nicholas Macpherson, Permanent Secretary of the Treasury, announced a review of the Treasury’s response to the financial crisis. The announcement followed recommendations from the Public Accounts Committee and the National Audit Office for the Treasury to conduct a ‘lessons learnt’ exercise. The Review’s remit was to examine: the Treasury’s capability [...] Posted on March 19th, 2012
Transposition into UK law will require a number of high-level policy decisions as well as a considerable number of operational ones. This discussion paper covers the policy issues and is a first step toward implementation of the Directive. This is an informal discussion paper highlighting and inviting initial views on a number of [...] Posted on February 12th, 2012
The governments of the United States, France, Germany, Italy, Spain and the United Kingdom have issued a Joint Statement regarding an Intergovernmental Approach to Improving International Tax Compliance and Implementing FATCA. Also, the US Inland Revenue Service (IRS) has today published proposed regulations to implement FATCA (Foreign Account Tax Compliance Act). According to original [...] Posted on February 1st, 2012
The Financial Services Bill was introduced to Parliament on 26 January 2012. The Bill will implement the Government’s commitment to strengthen the financial regulatory structure in the UK. The legislation will fundamentally reform the current regulatory system, which divides responsibility for financial stability between the Treasury, the Bank of England and the Financial [...] Posted on January 12th, 2012
The UK Government announced its intention in Budget 2011 to introduce a new, regulated, tax-transparent fund vehicle primarily to facilitate the setting up of pooled “Master Funds” under the Undertakings for Collective Investments in Transferable Securities IV Directive (UCITS IV). The main objective of introducing contractual schemes is to ensure that the [...] 6 pages
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