Sterling has mixed fortunes on Brexit ‘breakthrough’
Sterling has had a mixed reaction to Britain and the EU completing the first phase of negotiations and reaching a historic deal overnight.
Best Practice
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Advice to take on new meaning in January
The UK regulator is to introduce a new definition of advice on 3 January 2018 in a move to bring it in line with the Mifid II definition.
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Can value make a comeback in 2018?
Growth funds have walloped their value counterparts consistently for the last decade. But with the prospect of rising interest rates on the horizon and supportive global growth, can the investment style make a comeback in the new year?
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10 Chinese banks oppose new asset management rules
New rules from China’s Central Bank that look to tighten regulations in the asset management industry have reportedly been opposed by 10 national joint-stock banks.
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Offshore advisers fear new regulatory burden from HMRC
Offshore advisers have given a cautious thumbs-up to additional requirements to tell HM Revenue & Customs when they set up complex offshore schemes but have expressed concern that legitimate schemes could be targeted as well as abusive ones.
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UK Treasury predicts 16m people will benefit from robo-advice
Asset and wealth managers have been urged to embrace robo-advice in order to reach millions in need of money advice in the UK by an HM Treasury paper published Wednesday.
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HMRC powers worrying for taxpayers
Concern has been raised about the lack of effective safeguards in place for taxpayers, as HM Revenue and Customs continues to develop broader powers to seek payments.
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EU grey list must not let tax havens ‘off the hook’
Oxfam has warned that the EU grey list of non-cooperative jurisdictions for tax purposes should not be treated as a way of letting tax havens “off the hook”, as those named try to get to grips with the implications of their inclusion.
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Standard Life adds cashflow modelling tool for wrap advisers
Advisers will be able to illustrate real time and future financial events to support the advice process pre- and post-retirement by using a new cashflow modelling tool on the Standard Life Wrap platform.
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Aussie advisers banned for Zurich insurance commission scam
In a bid to maximise upfront commission, two Australian financial advisers have been banned from providing financial services for life for falsifying insurance applications on behalf of unsuspecting clients.
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Managing clients’ fear of missing out on Bitcoin
As Bitcoin surges to new heights, how can advisers manage enthusiastic clients’ fear of missing out (Fomo)?
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EU blacklist comes up short on sanctions
The EU has blacklisted 17 jurisdictions, including South Korea and the United Arab Emirates, and put 47 others on notice including Jersey and the Cayman Islands, but it has not said what sanctions or penalties those shamed will face.