Time is running out for anyone with undeclared offshore assets before tougher penalties kick in giving HM Revenue & Customs more time to investigate when people have failed to declare the right amount of tax.
The UK’s National Crime Agency has secured the first unexplained wealth orders to uncover if two properties are ultimately owned by a politically exposed person, less than a month after the legislation was introduced.
Six law firms are being investigated for money laundering failures, prompting the Solicitors Regulatory Authority (SRA) to warn lawyers that they need to do more.
The chickens have come home to roost for baby boomers and they should be taxed more to create greater fairness between the generations, a UK politician has argued.
Investors must look beyond high valuations in the US market and search for opportunities at the sector, size and style level, according to Morningstar UK chief investment officer Dan Kemp.
The Financial Conduct Authority (FCA) has ordered asset managers to pay investors £34m (€38m, $46.9m) in compensation after overcharging for “closet tracker” funds, in a move described as “hugely positive” for investors.
Policyholders in Hong Kong will be protected for the first time should their insurer become insolvent if plans to introduce a mandatory industry-funded compensation scheme come to fruition.
The UK arm of Guardian Wealth Management Group’s international business has received corporate chartered status, the company confirmed to International Adviser.
Financial advisers need to establish a data management policy that balances the rights of the client against the firm’s right to meet regulatory requirements or potentially defend a legal claim, according to Nick Eatock, executive chairman of UK based back office software support Intelliflo.
The first group of candidates have embarked on Openwork’s “Route to Wealth”, a study programme that supports firms upskilling their mortgage advisers to become fully qualified wealth advisers.
Hong Kong will make a major push to diversify its financial services and insurance industries through a HK$500m cash injection into bond market development, fintech, green finance and a training academy, the finance secretary outlined in the budget on Tuesday.
Despite a fanfare at launch, seven years on the Qualifying Non-UK Pension Scheme has not proved hugely popular even though it can offer useful advantages.
