Fraudster jailed over UCIS scheme
Adam Hawkins has been sentenced to six years and nine months for losing investors £4.3m in an unauthorised collective investment scheme he operated through three land bank companies.
Legal
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Withers launches Japanese tax practice
International law firm Withers has launched a Japanese tax practice in Tokyo as it looks to continue its growth in Asia.
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China opens door further by clarifying ‘beneficial ownership’
The China Securities Regulatory Commission has said Northbound investors buying through the Stock Connect enjoy proprietary rights, clarifying a key outstanding issue for foreign investors.
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Ex-director extradited to UK after £3.5m fraud
A former UK company director who produced false documents designed to deceive creditors into financing his firm is facing extradition and a prison sentence after he fled to South Africa.
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Smooth Sailing – Life trends with Prudential International
Kevin Purtill, head of commercial at Prudential International explains how the company has seen record growth, thanks to its offshore bond offerings
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Brandeaux investors start receiving payouts
Clients invested in the Brandeaux Student Accommodation Fund have started receiving payouts after waiting two years for their money to be released.
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ESMA consults on MiFID II
The European Securities and Markets Authority (ESMA) has begun consulting the financial industry on its proposal that adviser standards should be set by individual national authorities under MiFID II.
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Clients look for compensation after wealth manager goes bust
A Scottish-based wealth management firm has gone bust after it was unable to pay back clients who were mis-sold high risk investments, and customers are now turning to the Financial Services Compensation Scheme to get their money back.
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Advisers must brace themselves for new IHT trust duties from next March, warns Canada Life
Advisers must prepare clients for new tax and reporting requirements on trusts, as an inheritance tax (IHT) law introduced by the last Labour government reaches its tenth anniversary next March, Canada Life has warned.
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IFA complaint investigation and handling firm launched
The first independent and impartial service which will investigate and handle complaints against UK based financial advisers has been launched.
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SW Mitchell to drive growth with US focus
London based SW Mitchell Capital has described plans to more than double its assets under management with an increased focus on investors in a broader variety of jurisdictions, including the US.
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Just how transparent will DFMs get
The news yesterday that Financial Express has launched a service allowing financial advisers to compare DFM model portfolios is another welcome move in the quest for greater transparency across the sector.