Chinese prosecutor war on ‘financial crocodiles’ gathers pace
China’s top prosecutor has vowed to intensify a crackdown on financial crimes disrupting the country’s securities and futures markets.
China’s top prosecutor has vowed to intensify a crackdown on financial crimes disrupting the country’s securities and futures markets.
Advisers are mulling the implications of FCA plans to incorporate the term ‘insistent client’ into its handbook guidance. The regulator has outlined what it sees as best practice – a move that could see advisers producing two suitability reports, with a particular focus on pension transfer advice.
The Financial Conduct Authority has refused to let a compliance officer with nearly 20 years of experience carry out certain controlled functions on behalf of online trader Goldenway Global Investments.
Portfolio advisers are increasingly asking themselves why they are having to deal with so much regulatory change emanating from the EU, given the fast approaching deadline for Brexit in March 2019.
The US Securities and Exchange Commission (SEC) has charged an adviser with defrauding a professional athlete and his wife by deceiving them about the advisory fees they were paying and making up a person to testify to his goodwill.
HM Revenue & Customs (HMRC) is warning taxpayers that failing to disclose their offshore accounts could lead to “life-changing consequences” in a letter being sent to millions of individuals via their financial institutions and advisers.
The Italian trial of a Jerseyman at the centre of Australia’s biggest ever tax evasion scandal that ensnared Crocodile Dundee star Paul Hogan has collapsed.
Plans for significant changes to Canada’s voluntary tax disclosure programme (VDP) have been criticised by trade groups representing the country’s lawyers and accountants.
The UK government’s decision to make pension transfers into recognised overseas schemes a statutory right has been welcomed by the industry, but experts caution that advisers will need real expertise to ensure clients don’t fall victim to scams.
Client compensations for misconduct in the Australian financial services industry nearly tripled to A$618.8m (£381.2m, $490m, €416.2m) in the first half of the year, figures contained in the Australian Securities and Investments Commission (Asic) biannual enforcement report show.
While welcoming the UK Government’s decision to resurrect a ban on pension cold calling, many industry figures have expressed concerns on how long it will take to implement.
A group of US citizens living abroad “lack standing” to challenge the US Treasury Department’s taxes on their foreign bank accounts, the country’s Court of Appeals for the Sixth Circuit ruled on Friday.