The clock is ticking for UK non-doms on IHT property rule
Now is the time for advisers to help their non-UK-domiciled clients tackle the radical changes set to restrict tax benefits on indirect property holdings, says FPI’s Brendan Harper.
Tax & Regulation
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Kenya targets Islamic sukuk in financial services push
Kenya has unveiled a new body dedicated to promoting its fledgling Islamic finance industry, as part of a wider strategy to position itself as an International Finance Centre (IFC).
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EU, Asia Pacific financial regulation strongly connected
Representatives from Europe and Asia Pacific’s regulatory bodies met in Singapore on Friday to hold “in depth, closed-door” discussions on financial regulation and collaboration.
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FCA targets ‘small number’ of providers over annuity failures
The UK’s Financial Conduct Authority has directed a “small number” of firms to review all of their non-advised annuity sales from July 2008.
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Top tax advisers react to HMRC tax avoidance clampdown plans
Two leading tax advisers have reacted to HM Revenue & Customs’ discussion document ‘Strengthening Tax Avoidance Sanctions and Deterrents’ following the closure of its consultation phase on 12 October.
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Impact of a Trump or Clinton presidency on US citizens
Amid all the claim and counter-claim, it may be difficult to take a clear-eyed view of the policies of the presidential candidates ahead of the US election in November, however much we know about their private lives.
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British expats living in Spain must now disclose Malta Rops
Spain has unveiled a new rule which will require British expats to declare the money they have in Malta-based recognised overseas pension schemes (Rops) that allow ‘flexi-access’ in line with the UK’s pension freedoms introduced last year.
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Singapore shuts down second Swiss bank, fines DBS and UBS
The Monetary Authority of Singapore (MAS) has ordered that Falcon Private Bank in Singapore be shut down for serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the Singapore branch, as well as the head office in Switzerland.
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Belgium introduces tax break for cross-border pension schemes
Belgium’s government has approved a bill that will exempt cross-border pension schemes from tax in a bid to position the country as the number one location for pan-European retirement products.
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Lumiere Wealth MD arrested ‘in connection with’ JFSC probe
Christopher Byrne, the founder and managing director of Jersey-based IFA firm Lumiere Wealth, has been arrested in connection with the firm’s ties to the Guernsey-registered Providence funds.
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HK regulator seeks ban, HK$77m from fintech firm directors
Hong Kong’s Securities and Futures Commission (SFC) is looking to disqualify 10 directors of Freeman FinTech Corporation and seeking compensation of HK$76.8m (£8.0m, $9.9m, €8.8m) for losses incurred during the acquisition of a local firm.
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Two ex-BSI bankers in Singapore charged in 1MDB probe
Two former bankers for Switzerland’s BSI Bank have been charged by the Singapore police as part of their investigation into 1Malaysia Development Bhd (1MDB).