Pension freedom rumours rife on Isle of Man
Multiple sources have told International Adviser that pension freedoms will likely be included in this year’s Isle of Man Budget, to be released on 20 February.
Best Practice
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Novia rolls out Mifid II compliance reporting tool
To meet Mifid II’s so-called “10% depreciation rule”, Novia Financial is rolling out a solution for DFMs and advisers using its platform.
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How to avoid fines for personal data breaches
European regulations that aim to give individuals more control over their personal data are looming.
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Comedian tax avoider wants loopholes axed
English comedian Jimmy Carr, who was at the centre of a tax avoidance scheme that nearly ended his career, wants to scrap tax loopholes and send them to Room 101, the torture chamber from the dystopian novel Nineteen Eighty-Four.
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‘Accidental Americans’ putting Asia’s wealth transfer at risk
Accidental Americans face ruin if their estates are not properly structured, a lawyer has warned.
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‘Out of control’ HMRC over-taxes by half a billion
HM Revenue & Customs has handed back just under half a billion pounds to individual taxpayers since April 2015, which Royal London says shows the organisation is “out of control” when it comes to over-taxing people and then expecting them to claim it back.
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Sipps among most upheld complaints, reveals Ombudsman
More than half of the complaints around self-invested personal pension schemes (Sipps) passed to a financial ombudsman were upheld during the three months to 31 December 2017, making it one of most upheld areas of complaint.
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Limiting the downside when planning for Brexit
With talks on phase two of the Brexit negotiations expected to officially begin in March, how should financial advisers be reading the situation and preparing on behalf of their UK clients?
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IFAs should disclose 10% drop in performance
IFAs offering advised investment portfolios should consider matching DFMs by voluntarily disclosing any 10% falls in value to clients, says investment expert Graham Bentley.
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Younger investors more at risk online
Young people are most at risk of investing in fraudulent schemes pushed on social media, the UK regulator has warned.
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Isle of Man cracks down on unlicenced activity
The Isle of Man Financial Services Authority (FSA) is taking a “proactive initiative” to clamp down on financial services professionals conducting regulated activities without a licence.
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Aegon publicly slammed by PensionBee chief exec
Aegon’s “arduous” pension transfer process is creating barriers to stop customers transferring out and risks them becoming immune to red flags and falling victim to scams, the chief executive of PensionBee wrote in an open letter to her Aegon counterpart.