The Monetary Authority of Singapore is considering amending laws to clarify the ability of banks licensed in Singapore to report information related to over-the-counter derivatives. The MAS recently released a consultation paper saying it is "considering legislative changes to allow banks to report client identity in OTC derivatives transactions without breaching banking confidentiality."
High-speed traders are trying to capitalize on their ability to see when their orders on the Chicago Mercantile Exchange are executed before the rest of the market sees the information, experts say. A CME spokeswoman said the exchange operator is aware of the order-latency issue and is taking steps to address it.
Technological advances and market forces are helping position outsourced accounting services as an attractive line of business for certain firms. Technology author and business consultant Geoffrey Moore lays out a four-stage process to developing a high-value business for client accounting services.
The end of 2012 could mean the end of the current low-income and capital-gains tax rates and the reduction of the $5 million estate and gift tax exemption to $1 million, among many other scheduled tax changes. Now is the time for clients to be planning for 2013. Here's a handy checklist of tax issues clients should be thinking about now.