The tax secrecy practices of Britain’s Overseas Territories have been “shattered” by the UK Government, which in a dramatic turn of events, put its support behind an amendment that will introduce public ownership registers.
Despite some strong opposition, the UK financial regulator has released major plans to force providers to pay 25% of advisers’ Financial Services Compensation Scheme (FSCS) bills.
Moody’s decision to not downgrade South Africa to junk status has saved the economy about £14bn in outflows from the local bond market, according to an expert from Morningstar.
UK financial planning firm Harwood Wealth Management has made its third IFA acquisition of 2018 by acquiring Fund Management Limited for £1.13m ($1.5m, €1.2m).
Cross-party support is mounting in the UK for an anti-money laundering bill which could force the beneficial owners of companies based in the British overseas territories and Crown dependencies to be identified on a public register.
Sanlam UK has launched an inheritance tax service that enables clients to mitigate liabilities and generate long-term growth by investing in smaller companies on the Alternative Investment Market.
The EU has told the Isle of Man if it wants to stay off its tax haven blacklist, the island’s government needs to address the “lack of legal substance requirements” for all companies doing business on the island, according to chief minister Howard Quayle.
A former Nexus Singapore financial planner joins Guardian Wealth in Dubai, Mark Mobius nabs two former Franklin Templeton colleagues for his asset management boutique and Axa announces the retirement of a veteran fund manager.
Almost £17.5bn (€20bn, $24.3bn) has been withdrawn from pensions since the freedoms were launched three years ago, according to the latest figures from HM Revenue & Customs.
Morningstar Investment Management says UK buyers are flocking to global equity funds as regionally diversified exposure proves more alluring than the beleaguered domestic market.
The assets Schroders manages of behalf of advisers’ clients has fallen by £3.1bn ($4.3bn, €3.5bn) in the first quarter of the year, according to its latest results.
Newell Palmer’s acquisition of IFA firm HIA International Financial Services means the firm now has £2.1bn (€2.4bn, $2.9bn) in funds under management, a figure that will likely grow as it plans to make further acquisitions throughout the year.
