Providence boss pleads guilty to $150m fraud
The chief executive of Providence Companies Group has admitted to orchestrating a $150m (£110m, €125m) scam that duped mostly elderly and vulnerable people across the world.
The chief executive of Providence Companies Group has admitted to orchestrating a $150m (£110m, €125m) scam that duped mostly elderly and vulnerable people across the world.
UK advisers turned to US funds in April as corporates got to work spending the savings from president Donald Trump’s tax reform.
The UK has imposed public company registers on its overseas territories to create transparency and prevent “financial skulduggery”, but an international tax expert says, if people want privacy, they will just move to jurisdictions that still offers it.
One in three people over the age of 55 say the risk of being defrauded is a major concern following the introduction of the pension freedoms in April 2015, according to research from Prudential.
When it comes to running a sustainable financial advice business, the top concern for advisers is the growing burden of administration and not having enough time to generate new income streams, according to research by Masthead.
UK pension transfer specialist O&M Pension Advice will cease advising clients from 1 July after it ran into “unexpected difficulties” with its professional indemnity (PI) insurer, a problem that is becoming more common in the advice market.
With economic growth likely to pick up again, now is a good time to be adding exposure to the UK equity markets, argues Thesis Asset Management research analyst Ryan Paterson.
Fidelity Special Situations fund manager Alex Wright has increased his allocation to defense companies in a move set to exploit Donald Trump’s significant increase in his military budget announced in Q1, as the US attempts to create a more lethal Joint Force.
Old Mutual Wealth (OMW) is relaunching it transfer value analysis service (Tvas), a month after it was suspended following changes to the UK regulator’s rules concerning pension transfers.
As the Financial Conduct Authority (FCA) finalises its policy paper on defined benefit (DB) pension transfers, experts hope it will bring some certainty to an industry that has been in a constant state of flux since 2015.
It has been revealed that crown dependency representatives flew to London to meet with UK Government officials in a last ditch effort to have an amendment withdrawn that would have imposed public ownership registers on the jurisdictions.
HM Revenue & Customs has updated its guidance on who can be considered enablers of tax avoidance and the penalties they will face when caught.