Fund fees fall by a fifth after RDR
Investors are now paying over a fifth less in annual fund fees as a result of the introduction of the Retail Distribution Review (RDR), according to analysis by online investment platform rplan
Investors are now paying over a fifth less in annual fund fees as a result of the introduction of the Retail Distribution Review (RDR), according to analysis by online investment platform rplan
A number of British firms offering bespoke self-invested personal pensions (Sipps) could go out of business when the Financial Conduct Authority’s (FCA) new capital adequacy requirements come into force in September, according to James Hay, one of the UK’s largest Sipps providers.
Jersey Finance, which represents the finance industry, has come out fighting against calls for the island’s register of who owns which companies to be made public in the wake of the Panama Papers leak.
The headquarters of Mossack Fonseca, the law firm at the centre of the biggest financial data leak in history, were raided by police in Panama on Tuesday, the attorney general’s office has revealed.
A film scheme involving the distribution rights to two Disney films is taking HM Revenue & Customs to the UK Supreme Court to defend the £117m ($166m, €145.5m) it received in tax relief.
The UK’s Financial Conduct Authority has decided to check whether banks and building societies are making sure that customers understand the financial products they are buying.
The British prime minister David Cameron has announced a new law which makes companies criminally liable for employees who aid tax evasion as he defended his own tax affairs from mounting criticism following the ‘Panama Papers’ leak.
The Isle of Man and Jersey have formally committed to provide beneficial ownership information to law enforcement and tax authorities in the UK, with Guernsey set to follow suit after its upcoming general election.
HM Revenue & Customs and the UK’s National Crime Agency will work with investigators, compliance specialists, the Serious Fraud Office and the Financial Conduct Authority (FCA) to deal with the fallout of the Panama Papers.
The Isle of Man is to set up a central database of beneficial ownership information that it will share with law enforcement agencies in the UK.
Investment platform Nutmeg has confirmed it will make its services available to US citizens living in the UK, despite the growing number of wealth managers exiting the market due to the increased regulatory requirements relating to the Foreign Account Tax Compliance Act (Fatca).
Deadlines to implement business changes thanks to new regulations are coming thick and fast. So how are international life companies and global intermediaries changing their business models as a result?