BlackRock reacts to pensions changes
BlackRock is poised to take advantage of the upcoming pensions freedom changes with the launch of three new target-date vehicles.
Tax & Regulation
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UK to toughen tax evasion laws
The HSBC tax evasion scandal has put pressure on the UK government to introduce new legislation making it easier to prosecute people for hiding money in offshore bank accounts.
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FATCA goes live in Jersey
Financial institutions in Jersey can now register clients with the US, as the Foreign Account Tax Compliance Act (FATCA) goes live in the jurisdiction.
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UK taxpayers overpay £5bn in tax
Taxpayers in the United Kingdom are wasting around £4.9bn in unnecessary tax payments due to an absence of awareness, lack of concern or insufficient knowledge, a report suggests.
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ARIA launches FATCA-friendly portfolio strategy
The ARIA Investment Platform has launched a range of portfolio strategies on its investment platform aimed at US Investors caught by increasingly tough legislation.
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FX trader jailed for seven years for scam
A man who claimed he was trading on foreign exchange markets has been jailed for seven years after conning investors out of £5.5m and splashing the cash on himself.
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Montello granted full regulatory status
Montello has received full regulatory status from the Financial Conduct Authority as a UK fund manager.
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FCA puts Deutsche Bank under enhanced supervision
One of Europe’s largest banks is being closely monitored by the Financial Conduct Authority due to concerns over governance
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RDR mistakes act as warning for MiFID II
The implementation of new distribution regulation in Europe is “fraught with danger”, according to a new report from ALFI, which also heavily criticises the implementation of the Retail Distribution Review in the UK.
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FCA chief expresses regret over shoot first
Martin Wheatley, the chief executive of the Financial Conduct Authority, has said he regrets his description of the regulators approach as shoot first, ask questions later.
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New ISA rules to allow non resident UK transfers
A reform to ISA tax rules will allow non-UK resident individuals to transfer a deceased partners ISA assets for the first time.
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Tax crackdown sees 60% surge in revenue
HMRC’s clampdown on tax avoidance and evasion saw the amount collected from mass affluent taxpayers soar by £137M according to a report from Pinsent Masons.