INDUSTRY

Returning expats ‘hardest hit’ by non-dom reforms

Returning expats ‘hardest hit’ by non-dom reforms...Lock icon

Thousands of British expats face significant bills if they return to the UK after new non-dom tax rules come into force next week.

Published : 30, Mar 2017
FCA fines ex-investment banker over Whatsapp boasts

FCA fines ex-investment banker over Whatsapp boasts...

A former investment banker has been fined more than £37,000 ($45,965, €42,610) by the FCA after he admitted trying to impress friends by revealing confidential client details in Whatsapp chats.

Published : 30, Mar 2017
UK advisers spur growth in Royal London’s life and pensions

UK advisers spur growth in Royal London’s life...

Royal London has reported a 28% rise in new life and pensions business to £8.6bn (€9.9bn, $10.6bn), driven by strong sales from UK financial advisers.

Published : 30, Mar 2017
Wife and mistress must split pension rules Brazil court

Wife and mistress must split pension rules Brazil...

The pension benefits of a Brazilian man who died in 2015 should be equally split between his wife and a woman with whom he had a 20-year relationships during his marriage, a court has ruled.

Published : 30, Mar 2017
HMRC fails to clamp down on tax evasion as avoidance plummets

HMRC fails to clamp down on tax evasion as avoidance...

The UK tax office is still losing £11.4bn (€13.1bn, $14.1bn) of revenue every year to evasion despite introducing a host of measures aimed at tackling tax avoidance, according to research by consulting firm RSM.

Published : 30, Mar 2017
Five ways to benefit at the pension last chance saloon

Five ways to benefit at the pension last chance...

Pension savers in the UK have up until midnight on 5 April to maximise their contributions to offset this year’s tax bill, says Nathan Long, senior analyst at Hargreaves Lansdown. Here he suggests five ways savers can make the most of their unused allowances.

Published : 30, Mar 2017
UAE could face a ‘Hong Kong-style’ life sales slump

UAE could face a ‘Hong Kong-style’ life sales...Lock icon

Asia has traditionally been the principal market outside the UK for international life business but growth in sales from the two key regional hubs of Hong Kong and Singapore has come to a halt, says Provisca founder Bryan Low.

Published : 30, Mar 2017
US regulator 'freezes' lottery ticket boiler room scam

US regulator 'freezes' lottery ticket boiler room...Lock icon

A boiler room scam selling shares in a lottery ticket company that spent investor money on strip clubs, among other things, has had its assets frozen by the US Securities and Exchange Commission (SEC).

Published : 29, Mar 2017
Expats face Brexit ‘limbo’ as UK kick-starts Article 50 talks

Expats face Brexit ‘limbo’ as UK kick-starts Article...Lock icon

Over a million British expats living across the European Union face further uncertainty as the UK officially starts the two-year process to exit the bloc without being any closer to securing a deal on reciprocal rights.

Published : 29, Mar 2017
Triggering of Article 50 a fresh blow for Qrops

Triggering of Article 50 a fresh blow for Qrops...Lock icon

The UK government’s move on Wednesday to kick start the official two-year process for leaving the European Union is likely to be a further blow to a Qrops industry still reeling from the shock 25% charge imposed earlier this month.

Published : 29, Mar 2017
Standard Life cuts Asia insurance profile with Hong Kong sale

Standard Life cuts Asia insurance profile with...Lock icon

Standard Life has agreed to sell its wholly-owned Hong Kong life operation to its Chinese joint venture company Heng An Standard Life Insurance Company (HASL), underlining its move towards an investment-led business focus.

Published : 29, Mar 2017
Financial advice hit by UAE value-added tax, not life products

Financial advice hit by UAE value-added tax, not...

Details of the VAT system to be introduced for the first time in the UAE reveal that the standard rate of 5% will be levied on fee-based financial advice but not on the sale of life products.

Published : 28, Mar 2017
UK delays non-dom tax changes to offshore trusts until 2018

UK delays non-dom tax changes to offshore trusts...Lock icon

The UK government has delayed changes to the treatment of overseas trusts held by non-UK domiciles, amid concerns the reforms may force out Britain’s wealthiest foreigners.

Published : 28, Mar 2017
US regulator shuts down scam targeting elderly investors

US regulator shuts down scam targeting elderly...

The US Securities and Exchange Commission (SEC) implemented an emergency asset freeze and temporary restraining order against an investment adviser and his financial management company accused of scamming elderly investors out of millions.

Published : 28, Mar 2017
Advisers still wary of giving DB transfer advice

Advisers still wary of giving DB transfer advice...

UK advisers remain wary of defined benefit (DB) pension transfers due to the risks associated with challenges to historic advice, research has found. This is despite two thirds of advisers expecting a “big increase” in client enquiries about DB to DC transfers over the next 12 months.

Published : 28, Mar 2017
PEOPLE MOVES: Jersey, Lombard Int’l, Stanhope Capital

PEOPLE MOVES: Jersey, Lombard Int’l, Stanhope...Lock icon

The States of Jersey has named a chief officer of its financial services team, while Lombard International Assurance has created a general counsel role for its European operations. Stanhope Capital has secured a former Mexican finance minister for its board.

Published : 28, Mar 2017
AJ Bell unveils holdings for multi-asset launches

AJ Bell unveils holdings for multi-asset launches...Lock icon

AJ Bell’s first fund launch, a range of five diversified multi-asset funds that are risk-rated from cautious to adventurous, will start trading on 18 April 2017.

Published : 28, Mar 2017
 India’s largest bank to sell life unit stake in IPO listing

India’s largest bank to sell life unit stake in...

India's largest lender, the State Bank of India (SBI), has announced that it is looking to sell a 10% stake in a life insurance joint venture with SBI Life, as it prepares to launch an initial public offering (IPO).

Published : 28, Mar 2017
FPI up for sale with Utmost Wealth 'in the running'

FPI up for sale with Utmost Wealth 'in the running'...Lock icon

Friends Provident International is up for sale with Utmost Wealth Solutions as the ‘most likely’ buyer, according to a source close to International Adviser.

Published : 28, Mar 2017
IA to consult on hidden charge criticisms

IA to consult on hidden charge criticisms

Asset managers have fired a major shot in their battle to win over sceptical politicians, regulators and clients with the launch of a public consultation on a new costs and charges disclosure scheme.

Published : 27, Mar 2017

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FPI up for sale with Utmost Wealth 'in the running'
FPI up for sale with...Lock icon

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UK/UAE treaty allows expats to cash out pensions tax free
UK/UAE treaty allows...Lock icon

A new UAE-UK double tax treaty, which came into force...

Italy introduces non-dom tax breaks to lure wealthy foreigners
Italy introduces non-dom...

Italy has introduced a flat rate of tax aimed at attracting...

Standard Life cuts Asia insurance profile with Hong Kong sale
Standard Life cuts Asia...Lock icon

Standard Life has agreed to sell its wholly-owned Hong...

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