UK compensation scheme declares 11 firms in default
The Financial Services Compensation Scheme (FSCS) declared 11 firms in default during March 2018, meaning that consumers could get back money they have lost.
The Financial Services Compensation Scheme (FSCS) declared 11 firms in default during March 2018, meaning that consumers could get back money they have lost.
The group executive of advice at financial services giant AMP has admitted the firm intentionally misled Australia’s regulator over fees, as the Royal Commission into banking, superannuation and financial services targets financial advice.
An investigation by the Guernsey Financial Services Commission identified serious instances of governance and operational failings at Guernsey-based trust company Richmond Fiduciary Group, resulting in a fine of £45,500 ($64,759, €52,508).
Brexit will not necessarily invalidate insurance linked contracts, according to Lombard International’s associate director of wealth structuring solutions.
UK tax dispute resolution specialists Hamilton Rose is predicting a fresh wave of tax evasion and avoidance disclosures to HM Revenue & Customs from financial advisers and their clients and is offering a service to help advisers and corporates minimise potential liabilities.
Serious Fraud Office (SFO) cases will benefit from artificial intelligence technology that will allow it to investigate more quickly, reduce costs and achieve a lower error rate, the watchdog said.
Ten thousand wealthy individuals could be hit by offshore tax avoidance legislation proposed by HM Revenue & Customs, generating up to £50m a year in tax receipts.
Senior government officials, politicians and holders of public office cannot take advantage of a new Pakistani tax amnesty, the country’s taxman has confirmed.
Old Mutual International is taking legal action against Swiss-headquartered Leonteq Securities relating to false statements about the levels of commission paid to advisers on structured products, International Adviser can reveal.
Ad-hoc pension withdrawals could be overtaxed in the new tax year by thousands of pounds, AJ Bell has warned.
The Financial Conduct Authority (FCA) is planning to raise adviser fees by 4.2% for the upcoming financial year as it looks to cover EU withdrawal costs.
The Financial Conduct Authority (FCA) says its next annual budget and business plan will make explicit the costs associated to Brexit that it will have to absorb, news that will likely be welcomed by the financial services industry.