Morgan Stanley has agreed to pay $8m (£6.4m, €7.5m) and admit wrongdoing to settle charges that it did not ensure clients understood the risks associated with buying inverse exchange-traded funds (ETFs) the firm recommended.
A former financial adviser has been handed the maximum bankruptcy order of 15 years for acting in the management of a company while he was subject to a lengthy director’s ban.
British nationals living in the European Union can expect to face a backlash following the UK’s treatment of foreigners, a leaked report has warned.
The UK High Court has banned three directors who sold worthless carbon credits as part of a £1m ($1.25m, €1.17m) scam.
For British expats living in Portugal, or for those with Portuguese assets, the local equivalent of inheritance tax maybe relatively straightforward, says director of Blevins Franks Jason Porter, but succession law is very different. If advisers do not understand the rules, their client’s estate may not be distributed in line with their wishes or could…
Hong Kong’s Securities and Futures Commission (SFC) has reprimanded, banned or taken action against 13 companies and individuals since the start of 2017, most recently banning a former HSBC adviser from re-entering the financial services sector for life.
The 151 guaranteed funds sold in China, will henceforth be called “risk-hedging strategy funds” to reflect their potential risks, according to the new guidelines released by the China Securities Regulatory Commission.
The European Union has written to more than 90 countries warning them that they are being “screened” and may appear in a planned “blacklist” of tax havens.
The dismantling of Dodd-Frank will give European banks with ties to the United States a competitive advantage and could influence other nations to adopt a more competitive regulatory scheme.
A former Westpac banker in Australia has been sent to jail for three years for encouraging elderly and vulnerable customers to borrow over A$2.5m (£1.5m, $1.9m) to invest in a Tasmanian property development, which turned out to be a Ponzi scheme.
US citizens with federal tax debt of more than $50,000 (£39,973, €46,830) may have their passports revoked by the State Department, a move that could have a greater impact on Americans living overseas.
As the UK approaches the end of another tax year, Tony Müdd, divisional director for development and technical consultancy at St James’s Place, talks through how to make the most of all the allowances and exemptions available.
