The UK’s Financial Ombudsman Service (Fos) has set out the scale of fraud carried out in the country’s financial services sector, pledging to work with other regulatory bodies such as the Financial Conduct Authority to crackdown on scams.
Robo-advisers will have to wait up to a decade to make a profit from their clients, according to a new report into the sector.
Almost half of British savers withdrawing money from their pensions may be doing so at an unsustainable rate, according to analysis by asset manager Schroders.
The Financial Conduct Authority (FCA) has voiced concerns about the “inappropriate influence” that unauthorised introducers have on investment choices made by UK advisers, revealing that it has seen a growing number of cases where client pensions are being transferred into unregulated high risk products.
Financial advisers are in for a tough time following the UK’s vote to leave the European Union, according to a report from professional services firm EY.
Aberdeen Asset Management has raised £115m ($152.2m, €136m) of equity from UK pension funds to invest in the fast-growing UK private rented sector (PRS).
The Financial Conduct Authority (FCA) is expanding its remit over financial crime by requiring large firms to file yearly reports into the matter.
The amount of money savers are taking out of their pensions has more than doubled in the three months to 30 June compared to the first quarter of the year, latest figures published by the UK’s tax office show.
Preliminary UK growth figures for the second quarter have raised hopes slightly that the British economy was on a better footing heading into the EU Brexit referendum than had been expected.
The UK’s decision to quit the European Union could lead to a raid on pensions tax relief, experts in the industry have warned.
Three UK tax advisers have been arrested as part of a HM Revenue & Customs (HMRC) investigation into a suspected £132m ($173m, €157m) fraud involving offshore trusts.
Old Mutual Wealth is calling on the UK government to halt any further plans for pension reform despite a recent survey by the life insurer suggesting that changes to tax relief would not discourage retirement saving.
