An executive director of Convoy Global has resigned from the embattled company, citing a disagreement with the board of directors and legal action being taken against him and several other directors and employees.
St James’s Place has made two senior hires from The Fry Group in Singapore, Jupiter Asset Management has parted ways with its head of UK retail and Credit Suisse has boosted its Asia investment team.
The UK Government’s appointment of a new pensions secretary has been labelled as “disappointing” by a financial industry expert, who says the position has become a merry-go-round, as the role has now changed hands five times in just three years.
The US Treasury Department “disagrees” with the recently released EU tax haven blacklist, arguing that it “undermines” international standards put in place to identify non-cooperative tax jurisdictions, according to a letter sent to the EU security general.
Officials in Zurich reported a three-fold rise in the number of tax evaders voluntarily turning themselves in during 2017, as international regulations requiring Swiss banks to share details of offshore clients takes effect.
In its ongoing fight against tax evasion, HM Revenue & Customs has revealed its top ten tax fraud and organised crime cases of 2017. The list includes people with offshore accounts, a would-be spy, millionaires, accountants and data thieves. All cases came with large prison sentences.
Financial advisory firms operating in the UAE say while they still have questions about how the government’s new Value Added Tax (VAT) impacts the financial sector, it is better to be safe than sorry and assume it applicable to the services they provide.
Inflation rates rising, the Chinese economy slowing and the US pushing back against free trade agreements are all real possibilities investors must “carefully monitor” in 2018, according to deVere Group chief executive Nigel Green.
Saudi Arabia and the United Arab Emirates introduced a Value Added Tax (VAT) levy for the first time on 1 January, which is expected to produce an income of $3.3 billion for the UAE government in just one year.
Five years after the US introduced stringent regulations that required foreign financial institutions to report the assets of US-domiciled clients, Swiss IFAs tell International Adviser the move has created greater specialisation across the industry and is still having an impact.
The second largest shareholder in embattled Hong Kong financial advisory firm Convoy has lashed out at the company’s chairman, calling him “rude”, for taking away his voting rights in a meeting where he had attempted to remove several members of the management team.
The establishment of new financial regulators and an overhaul of tax exemptions for expats were some of the top read stories by our South African audience in 2017. To see the others click through the slides.
