FCA keeps ‘unsuitable’ DB transfer assumption
The Financial Conduct Authority (FCA) has backtracked on a proposal to change its position that an adviser should assume that a Defined Benefit (DB) pension transfer is “unsuitable” for a client.
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Dismay at South Africa’s 17% adviser exam pass rate
Only 17% of South Africa’s financial planning students managed to pass the Financial Planning Institute’s (FPI) professional competency examination (PCE) in February, a figure that has caused shock for universities and students throughout the country.
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STM moves Gibraltar HQ to UK amid ‘exceptional circumstances’
Cross border financial services provider STM Group has confirmed it is moving its headquarters from Gibraltar to the UK this month.
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IDD to be pushed back 7 months
The European Commission is to push back the Insurance Distribution Directive (IDD) by seven months to 1 October 2018.
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Happy Holidays from Last Word
Merry Christmas and Happy New Year from Last Word. We will take a holiday break.
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Global whisky investors’ £10k habit
Whisky investors are spending on average £10,000 a year on rare malts and amassing collections worth £75m, according to a world wide survey.
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Expat football mogul case shows limits of HMRC power
A football entrepreneur and Dubai resident, who rejected HM Revenue & Customs demands for information, has won a court case against the UK taxman.
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Financial advisers face uncertain 2018
Advisers are facing political, economic and regulatory uncertainties, according to the European Financial Planning Association and the UK’s Personal Finance Society.
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Cross border investors’ tax bind to end in EU
The EU has pledged to simplify cross border investing with new guidelines on withholding taxes.
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Top five chargeable queries of 2017
One of the most common topics prompting advisers to reach out to life companies for support was around chargeable events. With a myriad of changes in recent years, it is little wonder that the already complicated topic has many UK advisers scratching their heads. Canada Life has put together a list of the five most…
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Guernsey wants off tax haven blacklists
Guernsey’s lack of inclusion on the EU’s tax haven blacklist has prompted the island to call for Portugal and Lithuania to follow suit and remove it from their respective lists.
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Belgian robo-adviser joins forces with financial news media
A Belgian robo-advice firm is combining financial news with a portfolio builder to give readers access to investment opportunities.