Plans by Britain’s opposition Labour Party to impose a ‘land value tax’ are unlikely to apply to gardens and other “productive land”, despite criticism the policy could cost the average home £5,539 (€6,346, $7,149).
The Financial Conduct Authority has ordered Glasgow-headquartered Intelligent Pensions to stop providing pension advice in the latest in a series of actions taken by the UK watchdog to clamp down on pension transfers.
There has been a sharp drop in the number of complaints received by the Dubai Financial Services Authority, which regulates of the DIFC, but most of those it receives still relate to scams.
Strategic Wealth UK Ltd, a Wales-based IFA which partners with offshore advisers in Gibraltar to provide Qrops and Qnups services, has been ordered by the Financial Conduct Authority to immediately cease all pension related business.
Zurich has launched a programme to help financial advisers and intermediaries in the UAE prepare for and implement the upcoming regulatory changes to the country’s life insurance industry.
The Isle of Man Financial Services Authority (IoMFSA) has met with the UAE Insurance Authority to compare notes on pivotal life sector reforms due to be introduced in their respective jurisdictions.
Advisers in Australia have been warned by the country’s financial regulator not to inappropriately switch clients into charge-heavy products ahead of major changes to commission payments and clawbacks on insurance policy sales.
The Securities and Exchange Commission has lost a US Supreme Court case to force an investment adviser to repay nearly $35m (£27m, €31m) his companies stole, as his actions fell outside the statute of limitations.
The amount of inheritance tax saved by leaving money to charities in the UK is predicted to surpass £900m (€1,027m, $1,159m) in the next financial year, following a sharp increase in the amount of charitable donations left in wills.
British investment advisory group Ingenious Media said it will appeal an August 2016 Tax Tribunal ruling on the status of its film production partnerships, which date back as far as 2002 and involve many famous actors and footballers.
More complex financial crime and a growing regulatory burden have together been the driving force behind rising compliance costs within the financial services industry, a recent survey has revealed.
The Canada Revenue Agency (CRA) is on track to capture more than C$13bn (£7.5bn, $9.6bn, €8.6bn) in taxes owed after committing “important resources” to crack down on tax cheats, both at home and abroad, the country’s taxman has confirmed.
