UK prime minister vows to tackle offshore corruption
The UK prime minister has pledged to expose offshore organisations which use Britain as a “place to stash dirty cash” during a speech in Singapore.
Regions
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GDP rebound strengthens case for UK rate hike
UK GDP is estimated to have grown 0.7% in the second quarter the Office for National Statistics said on Tuesday, up from 0.4% reported for Q1.
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Blacktower gets go-ahead for MiFID licence
Blacktower Financial Management Group has been given the green light by the Gibraltar Financial Services Commission for a Restricted Category 3 MiFID Licence.
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VAM launches new global equity fund
VAM Funds has launched a new fund which aims to combine earnings-based stock selection with downside protection and reduced volatility.
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HMRC arrests adviser-led group in £4m fraud investigation
Six people including a financial adviser have been arrested as part of an investigation into a suspected £4m pay as you earn (PAYE) tax evasion and money laundering fraud.
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Hargreaves Lansdown halts pension transfer advisory work
UK investment manager Hargreaves Lansdown said it has stopped taking on new final salary pension transfer business due to the high volume of requests it has received.
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M&A activity driving up IFA business value in the UK
UK independent financial advisory businesses have risen in value by around 8% this year as regulatory reform helps drive M&A activity, according to online business valuation provider BizEquity.
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MAS tightens rules on product sales
The Monetary Authority of Singapore is planning measures aimed at safeguarding the interests of consumers who purchase financial products in public venues.
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Brooks Macdonald exceeds own expectations as FUM climbs 13.1%
Brooks Macdonald’s discretionary funds under management edged closer towards the £7.5bn mark with a 13.1% increase in the year ending 30 June.
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Hartmann Capital investors get bulk payout from FSCS
More than two thirds of the £3.2m in compensation owed to investors of Hartmann Capital has been paid out after the firm was shut down by the Financial Conduct Authority for having a £1.5m shortfall in clients’ money.
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European Court throws out EEA action group claim against UK Gov’t
A group of investors into a troubled life settlements fund has had its claim against the FCA and the UK Government rejected by the European Court of Human Rights.
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Old Mutual Int’l launches trust tool to support advisers
Old Mutual International has launched a new online service with the aim of boosting its trust proposition by pointing advisers towards the most suitable trust for their customer’s circumstances.