Challenges abound in China’s newly established advisory scheme
Shifting away from the model where third-party channels get more fees if they are able to sell more funds
Tax & Regulation
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DFSA decision upheld over ex-Deutsche Bank compliance head
Tribunal found she ‘recklessly misled’ the Dubai regulator about details of the bank’s wealth arm
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South African regulator withdraws licence from investment firm
For breaching its conditions by unlawfully promoting an unauthorised product
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UK tax collector brings in £45m via mediation
But a law firm flags worrying drop in how often it was used in 2018/19
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Fund industry fails to step forward to help life cos with CGT
Non-resident investors in UK property rich collective investment schemes face hefty tax liabilities
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Aussie regulator to take NAB to court over fees
Bank has set aside more than A$2bn for customer-related compensation
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UK advisers on the hook as life boat scheme seeks extra £46m
Main area of claims is in relation to pensions, says Financial Services Compensation Scheme
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Ex-Goldman Sachs director charged in US over 1MDB role
The SEC has issued a penalty of $43.7m in accordance to a separate forfeiture order
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Four people charged with fraud over Panama Papers
Three have been arrested while the other ‘remains at large’
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UK regulator to simplify platform switches for investors
And stop clients from disinvesting before changing provider
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Convicted eco-investment fraudsters ordered to repay £20m
The ‘carefully-planned and complex attack on the tax system’ spanned from London to Dubai
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Sting in the tail for Spanish property buyers
Pressure now on UK tax advisers as they have a legal obligation to ensure clients are fully compliant