Australia’s financial services regulator has told the country’s 'Big Four' and leading wealth manager AMP to repay at least A$178m (£111m, €125m, $136m) to more than 200,000 customers after charging them for financial advice they did not receive.
Democratic candidate Hillary Clinton, tipped to be the next president of the US, is expected to introduce a whole raft of new taxes aimed at the nation’s wealthy once she gets into power.
The UK’s Financial Conduct Authority (FCA) has begun a consultation with the finance industry to identify which areas of regulation it should focus its resources on in the future.
Kuwait's Ministry of Commerce and Industry has rejected a proposal to establish a separate body to oversee the insurance industry, despite wide-sweeping reforms to sector’s capital adequacy requirements.
South Africa’s government could be looking to introduce a wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.
Two UK company directors, who were convicted for giving clients bad advice to invest in fraudulent property investment scheme Arck LLP, have now been banned by the Financial Conduct Authority (FCA).
Over a half of UK advisers believe additional regulatory and compliance demands when Mifid II comes into effect will force them to review their business models, according to Investec Wealth & Investment (IW&I).
Australian expats living in the US may have to pay taxes on their superannuation pension accounts, following changes to the Internal Revenue Service’s (IRS) reporting requirements for such schemes.
After scrapping the secondary annuity market and potentially softening the non-dom tax changes, is the annual pension savings allowance taper the next thing that should go?
The Australian Securities and Investments Commission (ASIC) has signed a cooperation agreement with the Capital Markets Authority of Kenya (CMA) in a bid to boost financial services technology for both countries.
The UK government is considering plans to water down upcoming reforms to the tax rules governing non-UK domiciles whose permanent home is based overseas, due to concerns they may force out Britain’s wealthiest foreigners.
The British Virgin Islands has ruled out adopting a public register of beneficial ownership for the time being, saying it would not support the move unless it was adopted worldwide.
Upcoming changes to the tax rules governing non-UK domiciles, set to come into effect in April next year, should be postponed until the “full effects of Brexit” are understood, a leading London-headquartered accountancy firm has urged.
The Common Reporting System -- a partnership among around 100 regulators worldwide - will make it more difficult for Asian high net worth individuals to keep undisclosed money offshore, said Richard Corrigan, interim director of financial services for the Jersey Government.
Merrill Lynch, one of the ‘big four’ investment banks in the US, will no longer work with US citizens living abroad following the closure of all expat accounts earlier this month, a UK-based IFA firm has confirmed.
Israel-based Bank Leumi will pay $1.6m (£1.3m, €1.45m) and admit wrongdoing to settle charges from the US Securities and Exchange Commission that it provided investment advice to US customers for over 10 years without registering as an investment adviser or broker-dealer.
The gap between between the amount of tax HM Revenue & Customs expected to collect in the last financial year and what it actually raised has fallen to its lowest ever level, and is now one of the smallest in the world.
An annual property tax proposed last week by the Portuguese government on homes worth over €600,000 (£538,572, $660,108), may be “beneficial” for some of the thousands of British expats settled there, according to two leading tax experts.
EU insurance regulator Eiopa is planning to change the current Solvency II regulations to limit the ravages that super-low interest rates are having on the industry.
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