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Collapsed Australian investment firm bosses fined over A$600m

Collapsed Australian investment firm bosses fined...

Five former executives connected to collapsed Australian finance group MFS have been ordered to pay more than A$600m (£350m, $450m, €400m) in compensation to investors by the Supreme Court in the state of Queensland.

Published : 26, May 2017
Cristiano Ronaldo faces possible tax fraud charges

Cristiano Ronaldo faces possible tax fraud charges...

Real Madrid star Cristiano Ronaldo is facing possible tax fraud charges in Spain, days after fellow football legend and Spanish club rival Lionel Messi had his 21-month jail term for similar charges upheld.

Published : 26, May 2017
Spain upholds jail sentence against Lional Messi

Spain upholds jail sentence against Lional Messi...

Spain’s Supreme Court has upheld a 21-month jail term handed down last year to Barcelona football player Lionel Messi and his father, although the pair are unlikely to go to prison.

Published : 25, May 2017
Sipp provider Momentum clarifies asset rules amid ‘scrutiny’

Sipp provider Momentum clarifies asset rules amid...Lock icon

Malta-headquartered Momentum Pensions has clarified rules around which assets it will accept into its International Sipp as chief executive Stewart Davies confirms the sector is under a “heightened level of scrutiny”.

Published : 25, May 2017
Abu Dhabi creates will registry for expats

Abu Dhabi creates will registry for expats

Abu Dhabi has created a new register of wills for non-Muslim expats living and working in the UAE, which may allow them to circumvent Sharia law when estate planning.

Published : 24, May 2017
UK fraudsters fined £2m over property scam

UK fraudsters fined £2m over property scam

A long-running investigation by the UK's Financial Conduct Authority (FCA) has finally ended after eight men were convicted and fined over £2m (€2.3m, $2.5m) for running a property scam which conned investors out of more than £4.3m.

Published : 24, May 2017
French authorities raid soccer stars’ homes in tax probe

French authorities raid soccer stars’ homes in...

The homes of Paris Saint-Germain players Angel Di Maria and Javier Pastore were searched on Tuesday morning by French anti-corruption officers, in the latest tax fraud probe to rock the football industry.

Published : 23, May 2017
Isle of Man regulator takes action to stem fund failures

Isle of Man regulator takes action to stem fund...

The Isle of Man financial regulator is to crack down on collective investment funds by setting out “effective” guidance rules to “safeguard the reputation of the island”.

Published : 23, May 2017
British PM to water down £100k 'dementia tax' pledge

British PM to water down £100k 'dementia tax'...

British prime minister Theresa May has said she will set an “absolute limit” on the money people will have to contribute to pay to fund their long term social care when they retire.

Published : 22, May 2017
What Trump’s tax plan means for US expats

What Trump’s tax plan means for US expats

President Donald Trump unveiled his much-anticipated tax plan last month, promising “the biggest tax cuts in history”. Here tax advisers Ephraim Moss and Joshua Ashman from Expat Tax Professionals show how the proposals will affect US expats living around the world.

Published : 22, May 2017
Colombia’s Falcao accused of €5.5m tax fraud in Spain

Colombia’s Falcao accused of €5.5m tax fraud in...

Colombian footballer Radamel Falcao faces trial for allegedly defrauding the Spanish Treasury of €5.5m (£4.7m, $6.2m).

Published : 22, May 2017
Critics slam UK’s plans to scrap fraud agency as ‘dreadful’

Critics slam UK’s plans to scrap fraud agency...

British prime minister Theresa May's pledge to abolish the Serious Fraud Office (SFO) has been blasted as a "great danger" as critics voice concerns it will harm how white collar crime is tackled in the UK.

Published : 19, May 2017
The naked truth about MiFID II

The naked truth about MiFID IILock icon

The realities of Mifid II are beginning to dawn as advisers across Europe start to realise that commission transparency will be led by product providers, which could leave them feeling a bit exposed, says Shane Wood, business development manager for European IFA network OpesFidelio.

Published : 19, May 2017
Guernsey regulator issues warning on new Sark company registry

Guernsey regulator issues warning on new Sark...

Guernsey’s financial regulator has issued a warning about an organisation on the nearby tiny Channel Island of Sark, where it has a website promoting a company registry there for the first time.

Published : 19, May 2017
UK finds 40% of advice provides 'unacceptable' disclosure

UK finds 40% of advice provides 'unacceptable'...

The Financial Conduct Authority (FCA) has found “unacceptable” levels of disclosure in over 40% of the financial advisory sector as it releases the results of its Assessing Suitability Review.

Published : 18, May 2017
Adviser and his wife convicted of £1.7m property fraud

Adviser and his wife convicted of £1.7m property...

A “heartless” adviser and his wife have been found guilty of swindling people out of £1.7m (€1.9m, $2.1m) after the longest trial in UK criminal history.

Published : 18, May 2017
Indonesia grants taxman new powers in emergency action

Indonesia grants taxman new powers in emergency...

The president of Indonesia has signed emergency regulation giving the tax authority access to account information held by financial institutions months after $333bn in assets was disclosed under the country's hugely successful amnesty programme.

Published : 17, May 2017
Adviser in court for investing £1.2m in Polish property fund

Adviser in court for investing £1.2m in Polish...

A former financial adviser in the UK has denied forging clients’ signatures so he could invest £1.26m (€1.47m, $1.62m) of their money into a high-risk Polish property fund for his own benefit.

Published : 17, May 2017
Labour unveils new top rate of 50% on earnings over £123k

Labour unveils new top rate of 50% on earnings...

Britain’s opposition Labour Party has set out plans to increase income tax to 45% for those earning over £80,000 (€94,265, $103,242) and introduce a new 50% rate on earnings over £123,000.

Published : 16, May 2017
40% of entrepreneurs prefer lifetime gifting in estate planning

40% of entrepreneurs prefer lifetime gifting in...Lock icon

Two fifths of business owners and entrepreneurs are pursuing a “giving while living” approach when it comes to estate planning, according to a new report by RBC Wealth Management, creating the “biggest opportunity” for financial advisers.

Published : 16, May 2017

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UK and Spain to probe £120m storage pod pension scams
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DeVere closes Miami office
DeVere closes Miami office...

International advisory firm deVere Group has closed...

Nigel Green’s son to lead deVere expansion in Europe
Nigel Green’s son to...

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British PM to water down £100k 'dementia tax' pledge
British PM to water down...

British prime minister Theresa May has said she will...

Globaleye names wealth head in bid to up UAE advice standards
Globaleye names wealth...

Dubai-headquartered Globaleye has appointed a new head...

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