Bahrain’s government has announced it is working on a law that will allow foreigners to obtain 10 year “self-sponsored” visas, in an attempt to boost the jurisdiction’s position as a foreign investment destination.
Now the dust has settled on resident non-domiciled rules introduced in November last year, advisers and their clients have clarity on how they can plan confidently for the future.
The Financial Conduct Authority (FCA) has taken strong action against a financial advice firm by cancelling its permissions after it failed to submit its regulatory returns.
The UK Government has warned directors of companies who cold-call people regarding their pensions that they could be fined up to £500,000 ($663,562, €573,407), however one expert warns this may just drive their practices offshore.
A law firm has issued more than 30 cases against self-invested personal pension provider Liberty Sipp, claiming it is the biggest lawsuit ever taken against the provider.
The UK’s Financial Services Ombudsman (FOS) has found in favour of Rathbones in a case where a client alleged the provider mismanaged his Self-Invested Person Pension (Sipp) portfolio, leading to its underperformance and a financial loss.
Women retiring in 2018 will have 29% less income than men, according to research by Prudential which highlights that the UK’s gender pay gap remains a major issue.
Amundi hires a former special adviser to an ex-French prime minister, the TISA Exchange names an industry veteran as its chair and the Isle of Man’s Department of Enterprise appoints a chief executive to its finance agency.
Despite continued regulatory scrutiny, more than half (54%) of UK financial advisers have not adapted their investment process over the last two years, according to research from FE.
Standard Life Aberdeen is planning to return £1.75bn (€1.99bn, $2.33bn) in capital to its shareholders after selling its UK and European insurance business, while Old Mutual looks to offer up to 9.6% of shares in Quilter as part of its managed separation.
An Australian financial adviser who funnelled his clients’ money into a failed abalone farm has been charged with six counts of fraud totalling approximately A$5.9m (£3.3m, €3.8m, $4.4m).
A UK-based IFA, whose former client was England striker Alan Shearer, has been banned from holding a directorship for sneaking £76,000 from his insolvent advice firm.
