Gibraltar industry joining forces to tackle stiffer data regs
The regulatory burden of the EU’s General Data Protection Regulation (GDPR) has prompted Gibraltar’s regulator and insurance association to join forces to tackle the new legislation.
The regulatory burden of the EU’s General Data Protection Regulation (GDPR) has prompted Gibraltar’s regulator and insurance association to join forces to tackle the new legislation.
As the pace of regulatory change in the Middle East shows no sign of letting up, many operators within the region are predicting unprecedented change for financial services.
Four countries have long-established tax treaties that give UK-non-doms from these jurisdictions a hugely advantageous opportunity to minimise paying inheritance tax on their worldwide assets.
Advisers need clarity and reassurance on defined benefit transfers, the FCA has been told by the pensions industry in response to its consultation on update existing guidelines around advising on DB transfers.
The main UK regulator has pledged to go beyond the minimum requirements of the European Union’s new Insurance Distribution directive (IDD).
Saudi Arabia is planning to follow the United Arab Emirates in introducing a bankruptcy law to help its efforts to boost foreign investment into the oil-dependent economy, according to the Al Arabiya news channel.
Growing scrutiny of European fund managers delegating portfolio management to other EU countries is motivated by “political reasons”, the chairman of the Association of the Luxembourg Fund Industry (Alfi) told International Adviser.
The Guernsey Financial Services Commission has warned that investment risk is still incorrectly explained or ignored altogether by financial advisers.
Stark differences in regulatory interpretation among the 28 members of the European Union means that far-reaching reforms covering all aspects of the financial markets could end up defying their purpose and result in a “fragmented” single market.
Indonesia’s mammoth $368bn tax haul has been followed by new regulations aimed at tracing and taxing money that was not declared during the nine-month amnesty that ended in March.
The UK taxman raked in 21% more cash from accelerated payment notices (APNs) in 2016/17, netting HM Revenue & Customs £1.3bn ($1.76bn, €1.47bn) from individuals and small businesses.
Expat pensions transferred to Portugal could take a 10% hit under plans being considered by the country’s government.