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Tax and Jurisdictions

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.

The financial crisis has demonstrated the need for new regulatory approaches and increased supervision of financial service providers. This has sparked a raft of new legislation that attempts to ensure no such crisis happens again.

The latest edition of Campden FO, the magazine dedicated to the global family office community, is now available. There are two areas of focus to this issue: tax and family offices in Asia.

Lilian Bettencourt, L’Oreal heiress and France’s richest woman, has said she will declare her overseas assets after she was caught on tape discussing apparently undisclosed holdings with an advisor.