Plans by the UK’s Financial Conduct Authority to crackdown on excessive asset management fund charges and improve competitiveness in the sector has been met with a flurry of contradictory responses from different parts of the financial services industry.
Jorge Mendes, a sports agent whose clients include Christiano Ronaldo and Fabio Coentrao, has denied helping footballers evade tax illegally by creating shell companies.
A Shanghai-based financial adviser has heavily criticised the Isle of Man Financial Services Authority (IoMFSA) over how it has handled the fallout of the Quadris Environmental Forestry Fund, which invested in Brazilian teak plantations.
As tax laws have changed in recent years the disadvantages of owning Spanish property through a company have increased, says Jason Porter, director of European IFA firm Blevins Franks.
HM Revenue & Customs has kickstarted a new beneficial ownership register targeting those who set up trusts to “generate tax consequences” in guidelines published on Tuesday.
UK citizens living in Europe have condemned the British government’s decision not to guarantee the rights of EU citizens living in the UK, despite plans to maintain reciprocal healthcare rights and the ‘triple lock’ on pensions.
The British government has announced it will maintain reciprocal healthcare rights and the ‘triple lock’ on pensions for the 1.2 million UK citizens currently living in the EU.
Hong Kong’s newest regulator, the Insurance Authority, was officially launched on Monday, replacing the Office of the Commissioner of Insurance (OCI) which was disbanded on the same day.
Football star Lionel Messi could see his 21-month prison sentence for tax fraud replaced with a €255,000 (£224,313, $285,381) fine, Spanish prosecutors have said.
The seizure of documents from British football club Newcastle United by HMRC tax officials may have been unlawful, a judge has said.
The incoming chairman of a newly merged trade body for financial advisers in the UK has pledged to fight the industry’s corner in talks with the government and regulators.
Total Wealth Solutions, which has links to the collapsed Brazilian teak forestry scheme Para Sky Plantation, has entered voluntary liquidation, just months after the UK’s Financial Ombudsman Service (FOS) upheld a complaint against the financial advice firm.
