FCA calls for advisers to be more diligent
Many financial advisers are not doing enough to “challenge the status quo” around the products and services they offer to clients, according to the Financial Conduct Authority.
Tax & Regulation
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Jersey signs MoU with Abu Dhabi financial regulator
The Jersey Financial Services Commission (JFSC) signed a landmark memorandum of understanding (MoU) with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Wednesday.
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Gibraltar to appoint first financial services ombudsman
The Gibraltar government will create the jurisdiction’s first financial services ombudsman, following the publication of the Financial Services Ombudsman Act 2016.
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Irish Revenue offers new guide on tax arrangements
The Irish Revenue has added a new section to its website offering guidance on tax avoidance arrangements as well as information on the tools available to tackle would-be tax dodgers, Tax-News.com has reported.
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Pensions still most tax efficient savings option
Despite forthcoming changes to the UK’s tax system, pensions will remain the most efficient form of savings, according to a study from the Institute for Fiscal Studies (IFS).
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AIFMD passport inclusion decision expected by June – CIMA
The Cayman Islands Monetary Authority (CIMA) said it is confident the European Securities and Markets Authority (ESMA) would complete its assessment of a second wave of nations for inclusion into the AIFMD passport system by June 30.
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ESMA seeks input on regulating benchmarks
The European Securities and Markets Authority (ESMA) is seeking input on the technical implementation of a regulation to improve the governance and control of financial market benchmarking.
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DFSA amends property fund rules; to offer more online services
The Dubai Financial Services Authority (DFSA) has amended its rules for specialist property funds, and has begun a consultation on extending the range of transactions that it will offer online.
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Australia moves to regulate IFA commissions
The Australian government has introduced new legislation to regulate commission payments made by life insurance companies to financial advisers.
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ANALYSIS: Negative rates raise the stakes for getting it wrong
The Swedish central bank’s surprise announcement that it has pushed interest rates further into negative territory is the latest piece in what is an increasingly worrying puzzle.
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UK targets trust-based pension schemes for improvement
Trust-based schemes are being called on to improve their transparency and accountability following HM Treasury’s latest consultation on pension transfers and early exit charges.
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IHT tools to escape HMRC tax disclosure rules
Including popular inheritance tax planning vehicles in the UK’s tax avoidance disclosure regime would be a step too far, HM Revenue & Customs has agreed.