UK pension scam victims lose £91,000 each
Research shows 253 victims lost more than £23m to pension scams in 2017
Tax & Regulation
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UK advisers eye less regulation after Brexit
Will IFAs see any lightening of the regulatory burden when the UK finally leaves the EU?
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Can UK agencies deal with unexplained wealth orders?
‘What’s a trust?’ asks one investigator
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EU citizenship by investment schemes a security threat
‘The EU must not become a safe haven for criminals, corruption and dirty money’
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Advisers frustrated by platform switching
UK regulator worried that established clients are stuck on expensive legacy platforms
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Australia’s fee-for-no-service compensation to hit A$850m
Financial institutions have already paid out A$259.6m
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Cyprus clamps down on shell companies
Tax residence benefits are only for businesses that have real substance, says central bank
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Regulator warns 12 DB pension schemes over transfer activity
The UK Pensions Regulator has written to the trustees of 12 different defined benefit (DB) pensions schemes regarding transfer activity.
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UK lifeboat scheme off the hook for Beaufort compensation
The UK’s Financial Services Compensation Scheme (FSCS) will not have to pay full compensation to clients of collapsed Beaufort Asset Clearing Services after the High Court approved a plan to return client money and assets.
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Dwindling UK non-doms pay record £9.4bn in tax
UK non-domiciled taxpayers handed over a record sum to HM Revenue & Customs in 2016/17 despite their numbers dropping by a quarter.
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Advisers face ‘battering’ over China regulations
China’s new asset and wealth management guidelines will likely trigger a fresh wave of consolidation despite some recent revisions, according to Andrew Xia of Noah Holdings, a private Chinese asset management service provider.
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UK regulator must see danger in the Priip Kid
The Association for Investment Companies (AIC) has added its voice to the criticism of the key information document (Kid) required under the retail investment and insurance products (Priip) regulations following a call for feedback by the UK’s Financial Conduct Authority (FCA).