73-year-old London broker jailed in £1.2m Ponzi scheme
A former Charles Stanley stockbroker was jailed for six years after pleading guilty to conning investors, including some of his friends, out of £1.2m ($1.5m, €1.4m) in a Ponzi scheme.
A former Charles Stanley stockbroker was jailed for six years after pleading guilty to conning investors, including some of his friends, out of £1.2m ($1.5m, €1.4m) in a Ponzi scheme.
Regulatory and compliance costs will be one of the biggest threats to financial advice businesses in the UK over the next three years, the Personal Finance Society’s (PFS) 2016 Member Survey found.
A third of UK advice firms reported annual income of more than £1m ($1.23m, €1.16m) in 2016, with nearly half of all firms planning to recruit in 2017, according to a survey from insurance giant Aviva.
The more than 97% decrease in fines levied by the UK regulator against financial institutions does not signal a return to light touch regulation, says Mark Steward, director of enforcement and market oversight at the Financial Conduct Authority (FCA).
Requests from HM Revenue & Customs (HMRC) for beneficial ownership information on offshore companies and trusts may conflict with legal professional privilege (LPP), says the Law Society of England and Wales.
Wealthy British residents over the age of 45 are forgetting or ignoring simple estate planning tools that could help them to pass on more of their estate to their families, according to Canada Life’s annual IHT survey.
Life insurer Zurich is set to cut 240 jobs in the UK as part of its ongoing business restructure.
Insurance giant Aviva has announced a streamlining of its UK operations and is putting one person in charge of its main international businesses.
Philip Ozouf, assistant chief minister of Jersey, has stepped down following the publication of a report highlighting a catalogue of failings in how the island’s Innovation Fund awarded more than £2m ($2.5m, €2.3m) of taxpayers’ money to start-ups.
Bank House Investment Management, the personal wealth division of the UK-based Bank House group, has been barred from carrying out business such as advising on investments after an investigation by the regulator into its pension transfer business.
The Isle of Man Financial Services Authority (IoMFSA) has advised residents to tread carefully when making decisions about transferring or investing their pensions, following a rise in scams in the UK.
A call from an influential government select committee for the UK’s overseas territories and crown dependencies to create central public registers of beneficial ownership has been rejected by the UK government.