No IHT on drawdown funds, deeds of variation get reprieve
Inheritance tax will not be charged when pension scheme funds are earmarked for drawdown but do not draw all of the funds before death, the Autumn Statement said.
Author: Mark Battersby
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Pension tax changes held back until next year
Any potential changes to pensions tax relief will not be announced until next March, chancellor George Osborne said in his Autumn Statement.
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Imminent decision to delay MiFID II in full says report
Europe’s MiFID II legislation looks set to be delayed in full by a year after parliamentarians agreed not to block requests from policymakers and regulators to postpone it.
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Dubai FSA undertakes full scale review of insurance regime
The Dubai Financial Services Authority (DFSA) has issued a consultation paper on the insurance sector in a bid to clarify and update the regulatory regime.
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Call for pension transfer warning to stem ‘growing problem’
Insistent clients seeking pension freedoms under the UK’s new rules are creating a conflict of interest for financial advisers in relation to transfers of defined benefit pension schemes, according to the UK’s Personal Finance Society.
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Old Mutual Int’l hires former L&G director for growth plans
Old Mutual International has named Karen Blatchford as head of international marketing to spearhead the next phase of its growth plans.
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Axa Int’l arm is ‘potential candidate’ for sale
Isle of Man-based Axa Wealth International has surfaced again as a potential candidate for sale following reports that the French-headquartered parent company has hired two advisers in the City of London to offload key operations in the UK.
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Generali sets new business closure date for non-core markets
The soon-to-be amalgamated Guernsey operations of Generali Worldwide and Generali International will focus on only eight licenced markets from 1 January next year.
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Fewer, bigger funds show strength in Europe: Lipper
Fewer fund launches across Europe since 2008 does not indicate a lack of innovation in the industry, according to the head of EMEA research at Thomson Reuters Lipper.
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Fund groups warn of ‘ticking timebomb’ set for 2035
Outcome-based solutions – whether using building blocks or off-the-shelf – are the solution to the ‘ticking timebomb’ of longevity risk, a panel of fund groups leaders have agreed.
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Aegon sees UK life sales dive as Asia business soars
Dutch-headquartered life group Aegon reported a 30% third quarter fall in its total UK life sales but also revealed a more than 50% leap in Asia compared to the same period in 2014.
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Guernsey investor takes stake in MitonOptimal International
MitonOptimal International, the Guernsey-headquartered discretionary fund management company, has revealed that Bailiwick Investments has taken an 11% stake in the group’s business.