SEBI seeks to step up scrutiny of offshore wealth managers

07-Aug-2015 #Globalwealth Source: Economic Times

It is believed that the government is cracking down on tax evasion and has sent letters to some large wealth managers operating out of low-tax centres like Hong Kong and Singapore to try and bring them under its remit. It has reached out to some of the international private banks asking them to register their offshore units if they are soliciting business in India.

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