Growth in funds serviced in Guernsey slows
Organic growth increased but result nullified by redemptions, liquidations and funds transferred
Industry
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UK launches inquiry into taxation of trusts
HMRC is seeking views and evidence on whether the current regime is transparent, fair and simple
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Isle of Man’s business code delay to ‘finalise development’, says MIA
Worldwide fee and commission disclosures in Key Information Document to take effect on 1 July 2019
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Chubb Life launches critical illness policy in Hong Kong
Cover offers premium waiver benefit for major illness of policyholder’s spouse or child
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Financial adviser banned for abusing client funds
The UK adviser ‘knowingly took people’s money (£200k) for investments he knew were never viable’
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Malta faces high money laundering risk
Study reveals weaknesses in controlling cash movements at ports of entry
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UK hikes ‘death taxes’ with new probate system
Probate fees capped at 0.5% and threshold raised to £50,000, however, industry remains sceptical
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Financial services duo form new UK wealth manager
The company will provide a range of financial services’ advice on pensions, planning and investments
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THE PROS AND CONS OF QNUPS
Since HM Revenue & Customs (HMRC) introduced the Qualifying Non-UK Pension Scheme (Qnups) in 2010, there has been much interest but little uptake of these as standalone pensions. Initially, Qnups were regarded as inheritance tax (IHT) planning vehicles. However, the primary purpose must be to provide retirement benefits. The limitations on how these benefits can…
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Old Mutual Wealth removes health issues cover criteria
Insurer will now offer life cover to clients with a combination of heart disease and diabetes
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European fund platform launches stock class search tool
Allfunds’ portal enables customers to conform to Mifid II regulations
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Quarter of over-55s unaware of pension tax, L&G study finds
Of more than 2,000 over-55-year-olds surveyed in the UK, 21% would be ‘shocked’ to pay tax on their pension