EU pledges action on ‘Paradise’ tax avoiders
Pressure on the EU to act on offshore tax havens increased this morning after MEPs queued up to severely criticise wealthy tax avoiders and their advisers.
Latest news
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China to allow full foreign ownership of insurance companies
In a move to grow its status as a major global finance hub, the Chinese government has announced it will raise foreign ownership limits in insurance companies to 51% in three years’ time, while full foreign ownership will be allowed in five years.
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Six jailed for 45 years for eco investment scam
Six members of a crime group have been jailed for a total of 45 years for devising a fake eco-investment scheme as a tax break for wealthy investors, often using the law firm at the heart of the Panama Papers.
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Ex deVere duo to head Guardian’s new Swiss office
Guardian Wealth Management has opened an office in Basel, Switzerland and poached a duo from deVere to run it.
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STM shares suspended, acquires Malta pension firm
Minutes after suspending shares in London, Gibraltar-headquartered STM has said it is going ahead with the acquisition of a Malta pension company.
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Six fintech challenges facing financial advisers
How can financial advisers future proof their markets to evolve alongside fintech in preparation for a world where change is constant and digital comes first?
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Qrops name dropped in Isle of Man rebrand
Isle of Man-based The Qrops Bureau has rebranded as QB Partners to reflect the broader scope of technical support it offers to financial advisers and product providers.
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FCA orders £66m refund for collapsed Connaught investors
The UK financial watchdog has publicly censured Capita Financial Managers (CFM) and ordered it to pay up to £66m ($86.6m, €74.6m) to investors who suffered losses from investing in the firm’s now-liquidated Connaught Income Fund, Series 1.
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‘Greying Singapore’ embracing life insurance
Singapore’s life insurers have reported a strong 2017 sales with three-quarters of Singaporeans now covered.
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Jurisdictions face critical EU tax haven blacklist test
A ‘substance’ test that determines whether actual business activities of offshore structures take place in a jurisdiction could be the make or break factor for 53 countries facing the prospect of being added to an EU-wide tax haven blacklist.
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Portugal and Malta top expat ranking
The most attractive investment migration programmes are from Malta and Portugal, according to the Henley Partners Global Residence and Citizenship Programmes 2017–2018 report.
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The Fry Group launches Singapore discretionary service
Global financial advisory group The Fry Group has launched a discretionary investment service in Singapore, giving clients the option to delegate some or all of their ongoing investment decisions to the firm.