INDUSTRY

Pioneer CEO to leave as Amundi unveils new merged structure

Pioneer CEO to leave as Amundi unveils new merged...

Pioneer Investments group chief executive Giordano Lombardo is to depart after the completion of its acquisition by Amundi Asset Management on 3 July, as part of a raft of structural changes impacting more than 30 countries.

Published : 23, Jun 2017
PEOPLE MOVES: BlackRock, Deutsche Bank, Aviva

PEOPLE MOVES: BlackRock, Deutsche Bank, AvivaLock icon

BlackRock has lost an ex-Barclays chief executive from its board after he was charged by the UK’s Serious Fraud Office. Deutsche Bank has ramped up its anti-financial crime divisionwith two senior hires, while Aviva has appointed its chief executive of international insurance to the company’s board.

Published : 23, Jun 2017
Up to £50bn pulled from DB schemes in pension transfers

Up to £50bn pulled from DB schemes in pension...

The amount of money being withdrawn through transfers from defined benefit (DB) pension schemes in the UK has reached a record £50bn since the pension freedoms came into force, according to new figures released by professional service group Mercer.

Published : 23, Jun 2017
UK IFA promoting Brazilian teak scheme enters liquidation

UK IFA promoting Brazilian teak scheme enters...Lock icon

Total Wealth Solutions, which has links to the collapsed Brazilian teak forestry scheme Para Sky Plantation, has entered voluntary liquidation, just months after the UK’s Financial Ombudsman Service (FOS) upheld a complaint against the financial advice firm.

Published : 23, Jun 2017
Singaporean firm to build platform for Malaysia’s life insurers

Singaporean firm to build platform for Malaysia’s...

A unit of Singapore-based tech firm Silverlake Axis has won a contract to develop a digital platform for life insurance and takaful providers in Malaysia.

Published : 23, Jun 2017
EU’s new tax avoidance law to target Channel Island schemes

EU’s new tax avoidance law to target Channel Island...

Schemes involving transactions to low tax jurisdictions such as Jersey and Guernsey will need to be reported to the European Union, under new legislation aimed at tackling tax avoidance.

Published : 22, Jun 2017
Footballer to pay €2m to settle Spanish tax fraud case

Footballer to pay €2m to settle Spanish tax fraud...

Former Manchester United winger Angel di Maria has agreed to pay €2m ($2.2m, £1.76m) to settle tax fraud charges in Spain in the latest high-profile tax scandal to rock the football industry.

Published : 22, Jun 2017
Woman loses £50m UK divorce case over ‘sham offshore trust’

Woman loses £50m UK divorce case over ‘sham offshore...

A woman in the UK has lost a £50m (€56.7m, $63.2m) divorce court battle after failing to prove her millionaire husband’s offshore trust was a sham.

Published : 22, Jun 2017
Killik’s Sarah Lord joins Mazars as financial planning partner

Killik’s Sarah Lord joins Mazars as financial...Lock icon

International accountancy and advisory firm Mazars has appointed Sarah Lord, formerly of Killik & Co, as a financial planning partner in London.

Published : 21, Jun 2017
Pension transfer advice rules were ‘past sell-by date’

Pension transfer advice rules were ‘past sell-by...Lock icon

The financial planning industry in the UK has welcomed the FCA’s plans to overhaul advice on pension transfers, with many describing the reforms as long overdue.

Published : 21, Jun 2017
UK Queen’s Speech fails to address Finance Bill ‘limbo’

UK Queen’s Speech fails to address Finance Bill...

Key tax policies dropped from the Finance Bill in the run up to the general election will now be reviewed over the summer, the UK has announced, as the Queen’s Speech gave little clarity on the government’s tax plans for the coming year.

Published : 21, Jun 2017
CGT and IHT may fall victim to ongoing UK election stalemate

CGT and IHT may fall victim to ongoing UK election...Lock icon

Attractive exemptions to the inheritance tax (IHT) regime as well as low capital gains tax rates could face the chopping block amid concerns that Britain is heading for a second general election this year.

Published : 21, Jun 2017
Overseas pension transfers more complex under new FCA rules

Overseas pension transfers more complex under...Lock icon

Transfers to overseas pensions are likely to become even more complicated following proposals from the Financial Conduct Authority to overhaul pension transfer advice in the UK.

Published : 21, Jun 2017
FCA to overhaul pension transfer advice rules

FCA to overhaul pension transfer advice rulesLock icon

Advice on pension transfers is to be provided as a personal recommendation and transfer value analysis replaced with a comparison to show the value of the benefits being given up under plans announced by the UK regulator on Wednesday.

Published : 21, Jun 2017
Over two thirds of UK investors would refuse to pay for advice

Over two thirds of UK investors would refuse to...

More than three quarters of UK investors would refuse to pay the going rate for financial advice, new research has revealed.

Published : 21, Jun 2017
Mourinho accused of tax fraud by Spanish prosecutors

Mourinho accused of tax fraud by Spanish prosecutors...

Manchester United manager Jose Mourinho has become the latest football figure to be accused of tax fraud by Spanish prosecutors.

Published : 20, Jun 2017
HMRC frames new string of conditions for APN avoiders

HMRC frames new string of conditions for APN avoiders...

HM Revenue & Customs has set out a string of new conditions under which it may extend the time allowed to pay a tax bill under an accelerated payment notice (APN).

Published : 20, Jun 2017
BlackRock claims stake in European robo-adviser

BlackRock claims stake in European robo-adviser...

BlackRock has acquired a significant minority stake in digital investment manager Scalable Capital.

Published : 20, Jun 2017
Fearful advisers face ‘information vacuum’ on pension transfers

Fearful advisers face ‘information vacuum’ on...

Nearly all financial advisers disagree with the UK regulator’s pension transfer value analysis assumptions and are having to deal with an “information vacuum” from the UK regulator, according to veteran retirement expert Mike Morrison.

Published : 20, Jun 2017
Jersey’s finance minister out as chief minister clings on

Jersey’s finance minister out as chief minister...Lock icon

Jersey’s assistant chief minister Philip Ozouf has been ousted, having only returned to the political fold on 26 May after he resigned in January, with chief minister Ian Gorst maintaining his slim grip on power following calls for a vote of no confidence.

Published : 20, Jun 2017

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Ronaldo eyes Spanish exit in anger over tax fraud charges
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FCA to overhaul pension transfer advice rules
FCA to overhaul pension...Lock icon

Advice on pension transfers is to be provided as a...

Nearly 2,000 caught up in ‘biggest ever’ Abu Dhabi scam
Nearly 2,000 caught up...

Almost two thousand people have been caught up in a...

British expats top agenda as EU kicks off Brexit talks
British expats top agenda...

Securing a deal on reciprocal rights for millions of...

Fearful advisers face ‘information vacuum’ on pension transfers
Fearful advisers face...

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