Four asset management firms under FCA investigation
The Financial Conduct Authority has accused four asset management firms of breaching competition laws after allegedly sharing details of their bids in two initial public offerings (IPOs).
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Tax haven blacklist ‘not credible’ if four EU countries excluded
To stop its blacklist being whitewashed, the European Union should include Ireland, Luxembourg, Malta and the Netherlands on its list of tax havens when it is published on 5 December, Oxfam has warned.
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Judge not swayed by HMRC tax blunder
A taxpayer who relied on incorrect information published in an HM Revenue & Customs manual to claim tax relief has had his request for a judicial review dismissed, despite the judge agreeing the information provided was wrong.
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The year of reckoning in the UAE… or not?
A lot of gloom is found in Insight Discovery’s flagship Middle East Investment Panorama (MEIP) for 2017, says its chief executive Nigel Sillitoe. Some 63% of advisers saw their clients’ lack of willingness to invest as a threat. Meanwhile, there were not many optimists. Only 18% of advisers saw their clients’ readiness to invest as…
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What is the value of financial advice?
If an adviser’s ultimate aim is to run a practice where clients will cheerfully pay the fees, the first step must be to counter some false truths about value, says Phil Billingham.
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Offshore chiefs bid to avoid EU blacklist
Island jurisdictions including Bermuda, Jersey, Guernsey and Cayman have been making last ditch efforts to avoid being blacklisted by the EU.
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Honest taxpayers in HMRC’s sights
Steeper fines under HM Revenue & Customs’ requirement to correct (RTC) regime are just the start of changes that could catch out law-abiding taxpayers, according to KPMG’s head of tax investigations.
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Two charged in $150m Providence scam
The chief executive of Providence Companies Group has been federally indicted, along with its chief operating officer, for orchestrating a $150m (£112.5m, €125.8m) fraud that saw the firm’s operations in Guernsey and a Jersey-based IFA firm shut down in 2016.
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FE launches responsibly managed portfolio range
FE has launched three model portfolios to cash in on the growing world of sustainable investing, it announced on Monday morning.
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Red flags to watch out for with HMRC’s ‘pay first’ deterrent
The UK’s HM Revenue & Customs has introduced a pay first, dispute later deterrent to stop aggressive tax planning which has pushed company profits into offshore jurisdictions.
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77-year-old adviser gets 10 years for scamming church goers
An elderly investment adviser from Houston, Texas has been sentenced to 10 years in federal prison after being found guilty of cheating more than $5m (£3.75m, €4.2m) from people he met at church.
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Soap opera praised for investment fraud storyline
Anti-fraud campaigners have welcomed a story arc in the world’s longest-running drama series that highlights the dangers of investment fraud.