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Tax and Jurisdictions

Billionaires might be lining up in the US to join the so-called Gates pledge initiative, but so far it has little support outside of America, writes Katie Barker.

Few would argue that UBS is not beginning to improve the performance of its wealth management business. But some may question if the wealthy have regained the same level of trust they gave UBS back when it was the pre-eminent wealth manager in the world, writes David Bain.

Liliane Bettencourt, L’Oreal heiress and France’s richest woman, was questioned on Monday by French police as part of an ongoing investigation into her finances.

Tax raids by governments on private banks, such as the one on Wednesday by German investigators on Credit Suisse offices, are a short term move by governments to raise cash but do not address the underlying problems, according to one family office executive.

L'Oreal heiress and France's richest woman Liliane Bettencourt is accused of paying president Sarkozy’s government €150,000 during the 2007 elections.