The government’s plans to crack down on pension cold calling have been hailed as a “golden opportunity” to correct the UK’s “disastrous” rules that are as much use as a “chocolate teapot”, says Angela Brooks of Pension Life.
A sixth person has been charged by the Financial Conduct Authority (FCA) for promoting and selling shares through a succession of four boiler room schemes.
An Australian financial adviser has been banned after he used client money to pay for a house, cosmetic surgery for his partner, and to repay debts to Jordan Belfort, better known as the Wolf of Wall Street.
Christopher Byrne, the founder and managing director of Jersey-based IFA firm Lumiere Wealth, has been arrested in connection with the firm’s ties to the Guernsey-registered Providence funds.
A financial adviser who funded a lavish lifestyle from investments in an unauthorised collective investment scheme has had an extra 603 days added to his prison sentence for failing to comply with a court order to repay investors.
French tax authorities have asked Switzerland to name the holders of 45,161 bank accounts as part of an investigation into alleged tax fraud, French news service AFP has reported.
A financial adviser for Japan-based Gibraltar Life Insurance has been accused of stealing around JPY190m (£1.4m, $1.9m, €1.7m) from 26 customers over a period of 10 years, the company said in a statement on its website.
Hong Kong’s Securities and Futures Commission (SFC) has banned two former HSBC employees from re-entering the financial services industry for life after they were convicted of fraud.
Pension liberation scams are increasingly being endorsed by FCA-regulated financial advisers, advocacy group Pension Life has warned.
A former professional American football player has been charged by the US Securities and Exchange Commission for running a $10m (£7.7m, €9m) investment fraud that promised returns as high as 20%.
The former boss of collapsed UK platform Avalon Investment Services is to appear in court next week in connection with alleged fraud offences, British authorities have confirmed.
The UK supreme court has ruled that lies that do not impact an insurance claim should not necessarily invalidate the policy, but an industry body has warned that the ruling is a “blow for honest customers”.
