REGIONS

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The amount of money being withdrawn through transfers from defined benefit (DB) pension schemes in the UK has reached a record £50bn since the pension freedoms came into force, according to new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
Luxembourg regulator fines Rothschild over 1MDB failings

Luxembourg regulator fines Rothschild over 1MDB...Lock icon

Swiss private bank Edmond de Rothschild has been fined nearly €9m (£7.9m, $10m) by Luxembourg’s financial regulator for its handling of funds reportedly linked to beleaguered sovereign wealth fund 1Malaysia Development Berhad.

Published : 22, Jun 2017
Nearly 2,000 caught up in ‘biggest ever’ Abu Dhabi scam

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

Almost two thousand people have been caught up in a AED800m (£172m, $218m, €195m) Ponzi-style investment scheme that turned out to be the biggest scam in Abu Dhabi history.

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
What next after China's MSCI inclusion?

What next after China's MSCI inclusion?

Wealth and asset managers give their views on the implications of the MSCI inclusion of A-shares and where they find investment opportunities onshore.

Published : 22, Jun 2017
Saudi closes in on emerging market status as royals reshuffle

Saudi closes in on emerging market status as royals...

Saudi Arabia has taken a big step towards being classified as an emerging market after the MSCI added the Gulf state to its watchlist for potential upgrade on Tuesday, with the Saudi royal family making an unprecedented succession change a day later.

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
ANALYSIS: Why has MSCI taken so long to embrace A-shares?

ANALYSIS: Why has MSCI taken so long to embrace...

MSCI has finally included China A-shares in its emerging market indices, but the decision seems long overdue.

Published : 21, Jun 2017
Five Brexit scenarios for investors to chew over

Five Brexit scenarios for investors to chew over...

Brexit negotiations are officially underway. But what’s the final Brexit going to be – hard, soft, wobbly, red white and blue? Or will the UK economy simply plunge off the cliff edge? Investors weigh in.

Published : 21, Jun 2017
Most expensive global expat cities 2017

Most expensive global expat cities 2017Lock icon

Five Asian and three European cities were among the 10 most expensive places for expats to live, with the dubious honour of being the most expensive bestowed on the capital of Angola.

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

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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...

Nearly all financial advisers disagree with the UK...

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