Brexit must not hinder fraud investigations, UK watchdog warns
Brexit must not interfere with the way criminal professionals are pursued throughout the UK and Europe, the head of the UK’s Serious Fraud Office (SFO) has warned.
Author: Tom Carnegie
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PEOPLE MOVES: HSBC, Fidelity and Momentum
HSBC appoints a Hong-Kong based global head of private wealth solutions, Fidelity creates a head of stewardship and sustainability role, while Momentum Pensions has named a head of business development for the Middle East and Asia.
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Eight jurisdictions to be dropped from EU tax haven blacklist
The European Union’s finance minister is expected to remove almost half of the jurisdictions, including Panama and the UAE, from the tax haven blacklist next week, in a move that critics may see as a watering down of its tax avoidance campaign.
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FCA probes 109 firms connected to British Steel pensions
The Financial Conduct Authority has contacted 109 firms connected to British Steel Pension Scheme (BSPS) transfers and requested further information from 66 of them, the regulator has confirmed.
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French wealth tax restricted to real estate
French residents no longer have to pay a wealth tax on savings and investment income, after sweeping tax reforms came into effect limiting it to real estate.
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Carillion collapse puts even more scrutiny on DB schemes
Carillion’s imminent liquidation and £587m (€660m, $805m) pension shortfall has put increased pressure on the UK Government to tackle the sustainability of defined benefit (DB) schemes in an up-coming white paper, according to an Old Mutual Wealth pensions expert.
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All DB pension transfer firms face FCA grilling
The Financial Conduct Authority will collect data from every UK firm that advises on defined benefit (DB) pension transfers, as part of a probe into practices across the market.
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Strategic bond fund sales break £7bn in 2017
Net retail sales of Sterling Strategic Bond funds neared £1.5bn ($2.02bn, €1.69bn) for the second month in a row in November 2017, taking the total raised by the sector for the year to £7.25bn, according to the Investment Association.
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Retirement income expectations hit record high
People retiring in the UK in 2018 expect to live on an average annual income of £19,900 (€22,425, $26,888), the highest figure since the global financial crisis, according to research from Prudential.
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Convoy warns of dodgy shares
Embattled Convoy Global has warned investors against dealing with shares that it alleges were wrongly allotted to six individuals; including the company’s second largest shareholder, who recently failed to remove several executive directors in a thwarted boardroom takeover.
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Real Madrid’s Modric pays €1m to settle tax fraud
Real Madrid midfielder Luka Modric has reportedly paid €1m (£880,000, $1.2m) to Spanish authorities after appearing in a Madrid court on tax evasion charges.
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Isle of Man denies financial crime case failings
The Isle of Man has hit back against claims by a news agency that it failed to respond to requests for information from Indian authorities in relation to a bribery and corruption investigation.