Facebook ads funnel victims to wine investment scams
Social media adverts promised returns of 5%
Tax & Regulation
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UK regulator cracks the whip at pension transfer rogues
It banned around 70% more people last year compared to 2017
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EU removes three jurisdictions in blacklist update
One has been named fully compliant while two have been ‘grey-listed’
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France considers pulling out of Fatca
Move dependent on negotiations to avoid double taxation for French American citizens
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UK compensation scheme declares 21 firms in default
Customers could now get back the money they have lost
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Hong Kong insurance regulator to licence intermediaries
The Federation of Insurers will give up the function in September 2019
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Bahamas to introduce 90-day minimum residency for tax status
Move followed criticism of the country’s residence-by-investment programme
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UK financial regulator bans jailed wealth manager for life
Adviser is ‘not a fit and proper person to perform any function in relation to regulated activity’
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Pension committee urges UK regulator to ban contingent charges
But the FCA said more work needs to be done before it can intervene
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UK taxman collected record £5.4bn from IHT last year
Financial advice firm finds HMRC receipts have risen rapidly since 2014-15
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UK ombudsman reports 14% rise in IFA complaints
It also logged a large increase in historical cases from over 15 years ago
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Is the EU playing politics with Italy’s tax relief?
European parliament deemed favourable regimes ‘discriminatory’ against member state’s citizens