The International Organization of Securities Commissions (IOSCO), a global body representing financial regulators, has singled out misconduct in relation to retail financial products as one of its top four market risks for 2016.
Individuals and small, closely held business entities will be the most affected by the South African offshore tax amnesty which is due to begin in October, according to EY.
The amount of tax the UK government collects from pension savers who have breached their lifetime allowance (LTA) has almost quadrupled since George Osborne became chancellor, The Sunday Times reported.
There would be serious implications for Gibraltar were the UK to withdraw from the EU, according to an official UK government paper published on Monday.
The Financial Conduct Authority lacks “good evidence” that its enforcement actions are helping to reduce levels of mis-selling of financial services products, according to the National Audit Office (NAO).
The big question for international advisers isn’t Brexit but whether or not the UK is granted European Economic Area status, according to the Federation of European IFAs.
The newly-reappointed head of the IMF has called on Gulf countries to re-engineer their tax systems and consider greater use of corporate income taxes, as well as property and excise taxes to bolster government revenues in the face of lower oil prices.
UK wealth manager WH Ireland has been fined £1.2m ($1.7m) and restricted for 72 days from taking on new corporate broking clients for failing to sufficiently protect against the risk of market abuse.
The scale of activity of US alternative fund managers in Europe has been barely affected by the introduction of the EU’s Alternative Investment Fund Managers Directive (AIFMD).
The EU and Monaco have signed a new agreement which ensures member states will receive the names, addresses, tax identification numbers, and dates of birth of any of their residents with accounts in the principality from 2018.
Following months of market turmoil, the head of the China Securities Regulatory Commission (CSRC), Xiao Gang, was removed from his post and replaced by Lui Shiyu, the chairman of the Agriculture Bank of China.
If UK chancellor George Osborne opts to introduce a new Isa-style pension system in next month’s budget it spells the end of the 25% tax free lump sum allowance, says Steve Webb, director of policy for Royal London.
