Chase de Vere ordered to pay compensation
The Financial Ombudsman Service has ruled in favour of a client which was advised by Chase de Vere to invest £145,000 into three high risk UCIS funds, six years before his retirement.
Tax & Regulation
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Scottish independence to create uncertain
Scotlands possible independence as a result of its upcoming referendum could throw up a multitude of potential issues for investors and advisers using Scottish products, says a senior industry figure.
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Critics slam morally questionable HMRC
Financial advisers will be forced to endure sharp increases in lawsuits, insurance premiums and compensation costs in the wake of HM Revenue & Customs (HMRC) morally questionable tax avoidance clampdown, warn senior industry figures.
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Berkshire Hathaway fined
Berkshire Hathaway has agreed to pay $896,000 in civic penalties following accusations by the Federal Trade Commission that it violated pre-merger reporting laws.
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Hard work will reap rewards
With FATCA now a reality for millions of foreigners residing in the US and American expats abroad, laying the groundwork for an effective cross-border response has been essential.
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Standard Chartered fined 300m
Standard Chartered faces a further $300m fine and additional repercussions over its continuing failure to comply with anti-money laundering measures.
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Criminalised offshore regions increasingly
The impacts of HM Revenue & Customs plans to criminalise offshore tax evasion are looking increasingly severe, as nearly 40% of advisers with clients holding offshore assets claim their customers now prefer to invest into non-disclosure jurisdictions.
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PwC faces 25m fine and ban over
PwC has been fined $25m by the New York Department of Financial Services (NYDFS) for abetting the falsification of data within a regulatory report at the Bank of Tokyo Mitsubishi (BTMU).
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HMRC is closing in on you Offshor
HM Revenue & Customs has told offshore tax evaders to come forward now before we come to you, as it makes failure to declare taxable offshore income and gains a strict liability offence.
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HMRC moves goalposts
UK employee benefit trust (EBT) users will no longer be granted access to the full tax saving benefits of the Liechtenstein Disclosure Facility (LDF), following a “remiss” agreement between HM Revenue & Customs and the Government of Liechtenstein.
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Canadians throw down rights charter challenge
Two Canadians with dual US citizenship are suing Canadas federal government over its decision to sign up to FATCA.
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mexico more tax compliant than Jersey
Mexico has been named as fully compliant with international tax standards by the OECD while others, including Indonesia and Chile have been rated either largely or partially compliant.