Lawyers argue that he was breaching banking laws by tipping off Mr Fiorani with market-sensitive information.
With branches only in Switzerland, Wegelin claimed it was bound only by Swiss banking laws.
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With branches only in Switzerland, Wegelin claimed to be bound only by Swiss banking laws, brazenly scooping up deposits after UBS jettisoned Americans.
The banking laws introduced at the beginning of the month were intended to buy time while the second stage of the debt-rescheduling plan is completed.
Morgan, given time to improve its own performance and share price, would surely like to reunite the firm that banking laws tore apart in the 1930s.
The economy is already largely dollarised, and the new banking laws introduced on December 3rd include a requirement that all new bank loans be denominated in dollars.
Change banking laws so that money deposited in a bank remains the property of the depositor just as it would if he deposited the money in a warehouse.
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The bank had vowed to fight the charges, claiming that because it only had branches in Switzerland, it was bound only by its home country's relaxed banking laws.
Cyprus has always said it abides by international banking laws.
Switzerland, long a tax haven for the wealthy and a nation with once inflexible banking laws regarding secrecy, has one of the lowest marginal tax rates on working people, at 20%.
But it also has relatively secretive private banking laws and zero harassment from paparazzi or protesters, whose activities are narrowly proscribed by Singaporean authorities, further creating an aura of order and stability.
And then with the purchase of Home, another quirk in labyrinthine California banking laws suddenly meant that Ahmanson could make home loans over a broader geographical area than some of his competition.
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But it also has relatively secretive private banking laws and zero harassment from paparazzi or protestors, whose activities are narrowly proscribed by Singaporean authorities, further creating an aura of order and stability.
Commissioner Bud Selig had wanted Ryan and Greenberg to buy the team all along, though he never explained why he favored them, leading creditors to accuse Major League Baseball of violating banking laws.
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In the recent past, the Swiss government has been able to protect its banking laws while addressing concerns of countries like Germany and the U.K. by entering into new tax agreements that effectively curb tax evasion opportunities in Switzerland while maintaining client privacy (See UBS and Credit Suisse Will Take Lumps from Swiss-British Tax Agreement).
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Our Miami based accounts benefit from the confidentiality of US banking secrecy laws and the strength and stability of the economy.
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Tax havens are usually characterized by extremely low tax rates, strong banking secrecy laws and flexible regulations in terms of licensing, incorporation and supervision.
The problem for the Commission is that Switzerland in particular is unlikely to amend its banking secrecy laws to allow access to the records of EU residents.
That has put Austria, Germany and, above all, Luxembourg on the spot: all have strict banking secrecy laws that would have to be curtailed if the scheme were to work.
The full details of FATCA have yet to be ironed out between the U.S. Treasury and the IRS, but one of its requirements will include a document for new account holders to sign that waives whatever rights they may have under local banking secrecy laws.
If an individual falsifies his or her tax claim by concealing their income in offshore accounts, banking secrecy laws in countries like Switzerland have in the past helped to keep that income hidden by making it a crime for the banks and their employees to disclose information about clients.
Back to the first rule: in banking, the laws of supply and demand do not apply.
He also conveyed the FSA's worries about the bank's culture, including the attitudes of its most senior staff to risk-taking, tax laws and banking regulations.
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He had also conveyed the FSA's worries about the bank's culture, including the attitudes of its most senior staff to risk taking, and flouting the spirit of tax laws and banking regulations.
Economic factors take into account banking services and currency exchange laws.
These include laws to prevent money laundering, checking corruption, protecting women from sexual harassment at workplace, protecting whistle blowers, amending laws relating to banking and marriage, and regulating higher education, among other things.
For one thing, banking-secrecy and data-protection laws will make it fiddly for Credit Suisse and Winterthur to pool information about customers.
The government, like most others in Europe, is also resisting pressures to relax rigid labour-market laws that are hobbling not just would-be banking champions but most of European industry, which is in the throes of a long-overdue restructuring.
Citigroup's 1998 merger of insurance, banking, investment banking and brokerage services on such a large scale forced the government to revamp its laws, not the other way around.
Many bankers say reforms should not go so far as to stifle profits that would return the banking sector to health, and they argue against a return to Depression-era laws that carved up the world of finance.
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