Seven financial services firms recognised for LGBT+ work
Two regulators and several law firms in the UK also made the Stonewall list
Pinsent Masons
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Legal view on UAE commission cap
Law firm expects separate set of rules dealing specifically ‘with advisers and individual sales personnel’
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Drop in non-doms hits UK coffers
Taxman sees £2.5bn less in revenue coming in from people residing outside the country
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UAE regulator issues final ‘draft’ of life product sale rules
Indemnity commissions to be capped – not banned
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Tax investigators could get greater search warrant powers
The UK’s Serious Fraud Office and HM Revenue & Customs could be given the right to apply for a search warrant independently of the police under modernisation plans.
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Will public registers work without international consensus?
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.
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‘Unlimited fines’ on the way for offshore tax evaders
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.
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Three categories added to personal portfolio bonds
Personal portfolio bonds (PPB) may become more attractive to investors as new regulations will allow additional property categories to be held within them.
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Life insurer fined €1m for laundering failures
The Irish insurance regulator has fined Italian life insurer Intesa Sanpaolo €1m ($1.1m, £884,459) for anti-money laundering and terrorist financing compliance failures.
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Red flags to watch out for with HMRC’s ‘pay first’ deterrent
The UK’s HM Revenue & Customs has introduced a pay first, dispute later deterrent to stop aggressive tax planning which has pushed company profits into offshore jurisdictions.
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German regulator demands UK insurers’ Brexit plans
Germany’s financial service regulator, BaFin, is well within its rights to contact UK-based insurers demanding they explain how they plan to handle a no-deal Brexit, says an insurance law expert.
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More dawn raids on tax evaders as HMRC ramps up action
Dawn raids on suspected tax evaders by UK authorities are up by a third to 669 over the five years to March, as HM Revenue & Customs steps up its pursuit of white-collar fraudsters, reports the Financial Times.