New ‘model manufacturers’ to lead commission disclosure push
The only ever-constant is change but much of it, says RL360°’s David Kneeshaw is to be welcomed, adopted and benefited from.
Tax & Regulation
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Business strategies: Smartening up your act
With the introduction of South Africa’s RDR fast approaching there are a number of vital issues firms should address, says Brian Foster, founder of Brian Foster Coaching & Consulting, in part one of a series of three articles.
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Fund distribution channels and IFAs key for Hong Kong
The lack of a significant IFA industry and the concentration of fund distribution channels in the banking sector could hamper Hong Kong’s ambition of becoming the world’s leading fund distribution centre, according to an official report.
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Top UK cricketers caught up in film scheme losses
Several former England cricket captains have been caught up investing in disputed film schemes that have also seen many high-profile footballers lose millions.
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Spanish resident appeals to ECJ over excessive disclosure fine
A Spanish taxpayer is appealing to the European Court of Justice (ECJ) over an “excessive” penalty for disclosing his overseas assets a year late, according to global financial advice association Step.
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Europe’s regulators turn their sights on robo-advisers
European regulators have announced plans to investigate the increasing use of ‘robo-advice’ in the financial services industry in order to work out what action may be needed to control its growing use.
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APFA finds regulatory costs eat up 12% of adviser’s income
Small to mid-sized UK financial advisory firms are spending around 12% of their income on direct and indirect regulatory costs, according to the latest annual survey on the cost of regulation by the Association of Professional Financial Advisers (APFA).
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Platforms are way to leap barriers into int’l markets
Brendan Dolan is a UK expat of 15 years as well as a regional director with Old Mutual International so when it comes to the practical application of change in his market, he is most certainly worth listening to.
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UK tax evaders given one last chance to come clean
The financial secretary to the Treasury, David Gauke, launched a campaign warning offshore tax evaders that HM Revenue & Customs (HMRC) will start to receive details on UK taxpayers from more than 90 countries.
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Isle of Man chief calls Osborne’s tax clampdown ‘unrealistic’
Isle of Man chief minister Allan Bell has predicted that George Osborne will struggle to raise the additional £5bn a year from clamping down further on tax avoidance and evasion, identified as a new target in the UK Government’s Autumn Statement.
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HMRC U-turns on loans secured on untaxed foreign funds
HM Revenue & Customs quietly backtracked several weeks ago on changes it made to loans secured against untaxed foreign funds.
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Life industry responds to Singapore commission cap delay
The Monetary Authority of Singapore has delayed the 55% cap on commission financial advisers receive from the sale of life insurance policies a year after the industry asked for more time to implement the changes.