As Singapore IFAs face the prospect of the regulator raising the bar on the level of qualifications they hold, a survey from Defaqto reveals that just under half of UK advisers, 47%, are aiming to go even higher than the minimum new RDR threshold required by the Financial Services Authority.
Accounting and tax specialist Baker Tillys Sue Moore has called into question whether guidance published by HM Revenue & Customs can be trusted by individuals arranging their tax affairs.
Representatives from non-US financial institutions have called on the US to postpone implementation of FATCA, the package of regulations aimed at cracking down on tax evasion by US citizens who make use of non-US bank accounts and other financial instruments.
Four of HM Revenue & Customs top five civil servants are set to leave the organisation this summer, according to the Financial Times
The UKs Financial Services Authority has fined Swiss private bank Habib Bank AG Zurich more than half a million pounds and its money laundering reporting officer a further £17,500 for anti-money laundering control failings.
One of the founders of social networking website Facebook, has renounced his US citizenship, according to media reports, with many speculating the reason for doing so was financial.
The pending review of Singapores financial services industry may not lead to a ban on commission payments to financial advisers, according to a senior figure leading the review.
Martin Currie Investment Management has been fined £3.5m by the FSA for failing to manage a conflict of interest, the largest ever fine of its type.
The Monetary Authority of Singapore has reduced the number of investment funds which are subject to new investor protection rules which came into force at the beginning of this year.
“Many” US and global banking industry executives believe that the majority of banks required to comply with the Foreign Account Tax Compliance Act (FATCA) will not be ready to meet its deadlines some of which begin on Jan. 1, 2013, a survey conducted by KPMGs US operation has found.
UK Crown Dependency the Isle of Man has signed a double taxation agreement with Qatar.
Friends Provident International and Morningstar OBSR have launched five risk-rated model fund portfolios.
