HMRC wins case for access to 308 banks offshore accounts
More than 300 financial institutions have been ordered to hand over details of customers with offshore accounts after HM Revenue & Customs won so-called production orders against them.
Industry
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Britannia launches new issue of its Guaranteed Capital Bond
Britannia International has launched a new issue of its Guaranteed Capital Bond, which will pay a fixed return of up to 5% a year over six years provided the FTSE does not fall below 75% of its starti
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Landsbanki depositors to receive further 25%
Landsbanki Guernsey depositors have been told they will receive a further 25% of their money back by early next year at the latest.
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BNY Mellon snaps up Insight for £235m
Insight Investment has been sold to BNY Mellon in a £235m deal by parent company Lloyds Banking Group.
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International life sector braces for consolidation after Friends Prov takeover
Friends Provident International (FPI) has suggested a fresh round of consolidation in the offshore life industry may begin in the next 18 months as new owner Resolution seeks out more takeover targets
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UK agrees tax evasion deal with Liechtenstein
UK authorities have agreed an unusual deal with Liechtenstein that offers British tax evaders with accounts there limited penalties in exchange for accounts disclosure.
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New European IFA association sets out its goals
Helping IFAs cope with the growing regulatory burden in the EU will be a “major goal” for Feifa, the new trade association for financial advisers based in Europe.
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Friends agrees to Resolution takeover
Friends Provident is to be taken over by Clive Cowdery’s Resolution Holdings after the board of FTSE 100 insurer backed the Guernsey-domiciled investment vehicle’s latest 1.86bn bid.
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Canada Life Int’l adds protected gold fund, extends extra allocation offer
Canada Life International (CLI) has added a new capital protected version of the Julius Baer Physical Gold Fund to its offshore bond proposition.
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EU expansion for Equiom with Cyprus operation
Equiom, the Isle of Man headquartered trust company, has opened a Cyprus operation.
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BLME launching shariah-compliant money market Sicav for professional investors
Bank of London and the Middle East (BLME) has launched what it says is Europe’s first Shariah-compliant money market fund.
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Financial Partners splits to survive recession
Financial Partners, the offshore financial adviser with over US $1bn under advice, has sold its Japanese operation and is splitting into a network of independent regional businesses in a cost-cutting