Clients of defunct DFM set for payment
The UK’s Financial Services Compensation Scheme expects to shortly make the first payments to customers of discretionary fund manager Strand Capital, which entered administration in May 2017.
The UK’s Financial Services Compensation Scheme expects to shortly make the first payments to customers of discretionary fund manager Strand Capital, which entered administration in May 2017.
Investors in Neil Woodford’s flagship equity income fund have now lost money over the last three years, as 2018 brings more hardships for one of the UK’s favourite star managers.
Prison sentences and “unlimited fines” are two draconian penalties HM Revenue & Customs (HMRC) will have at its disposal from next week for UK taxpayers who evaded tax through offshore means in tax year 2017/18.
HM Revenue and Customs is to face questioning over its treatment of individuals during tax enquiries.
IFA firms should “wrest control” of their businesses from life companies based on the Isle of Man before the Conduct of Business Code comes into force, the director of Thames River International has argued. A move described by one industry source as “dodgy” and a “stain on the industry”.
The Financial Conduct Authority is to investigate insurance giant Aviva over whether its plan to cancel preference shares was market abuse.
News that passporting will continue during the Brexit transition period has been welcomed by the founder of a Belgium-based advice firm who has also backed the FCA chief’s calls for the agreement to continue after the UK leaves the EU.
Digital wealth manager Moneyfarm has launched a self invested personal pension (Sipp).
The UK “should regard it as a matter of national shame that the crown dependencies and overseas territories that fly our flag give shelter to the wealth of the world’s financial elite”, HM Treasury sub-committee chair John Mann has said.
Zurich UK has agreed to acquire Oak Underwriting in a move that the company believes will transform the firm’s scale in the high net worth sector.
The Pensions Ombudsman has ordered AJ Bell to compensate a client for lost interest and pay him £500 ($709, €570) for “significant non-financial injustice” after the investment platform failed to notify him the interest rate of his account would drop to 0%.
Twelve percent of people retiring this year have made no provision for their retirement, with 10% either totally or somewhat reliant on the UK state pension, research from Prudential has found.