Tax investigators could get greater search warrant powers
The UK’s Serious Fraud Office and HM Revenue & Customs could be given the right to apply for a search warrant independently of the police under modernisation plans.
Author: Tom Carnegie
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PEOPLE MOVES: Brewin Dolphin, Manulife, JP Morgan
Brewin Dolphin bolsters its Jersey team with a senior hire, Manulife announces three promotions to its management team in Hong Kong and JP Morgan Asset Management grows its international ETF business with six appointments.
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Clients of fraudster IFA brothers receive £5m compensation
The UK’s compensation scheme has paid out almost £5m (€5.7m, $6.7m) in claims against the brothers behind Taylor & Taylor Associates, who defrauded more than 200 clients to fund lavish lifestyles that included private jets and Rolex watches.
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Ex-Everton manager sues IFA
Former Premier League football manager Walter Smith is seeking £320,000 from his ex-financial adviser over investments made during the time he was in charge of Everton.
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Credit Suisse to pay $47m to resolve Asia hiring probe
Credit Suisse has agreed to pay a penalty of $47m (£35.1m, €40.1m) to the US Department of Justice (DOJ) to end an investigation into whether it hired employees in Asia in return for investment banking business and regulatory green lights.
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IFAs busier than ever due to UK pension freedoms
UK advisers are spending more time and resources dealing with retirement advice since the launch of pension freedoms, according to the latest research from AKG.
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Football legend says asset manager fraud bankrupted him
Former Premier League footballer Colin Hendry said he will be seeking compensation if an investigation into Kingsbridge Asset Management proves its staff conspired to defraud a large number of its high net worth clients.
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IFA and ex-rugby star sentenced for £2.4m film tax scam
An independent financial adviser, a former police officer, a city trader and a former Welsh-international rugby player have all been given jail sentences for their roles in a £2.4m (€2.7m, $3.2m) film tax scam after an investigation by HM Revenue & Customs (HMRC).
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Mattioli Woods suspends DB transfer advice service
UK-based Mattioli Woods has stopped providing pension transfer advice service to individuals with safeguarded benefits as the wealth manager undertakes a full review of its work in the area.
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ANZ sells life insurance business to global giant Cigna
ANZ Bank New Zealand has agreed to sell its life insurance business to US-listed health insurance giant Cigna for NZ$700m ($485.4m, €419m, £368m), the second non-core business the group has shed in under a month.
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PEOPLE MOVES: Aviva, Hawksford, TPR
In a shock announcement the head of the UK’s pensions regulator resigns, Charles Stanley appoints an investment manager from Quilter Cheviot and Hawksford hires a former police officer.
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EU puts US on the clock for tax blacklist
If the US does not comply with the OECD Common Reporting Standard by June next year it faces being placed on the EU blacklist for non-cooperative jurisdictions, an EU top official has warned.