REGIONS

Guernsey bans Sark couple from director roles for 15 years

Guernsey bans Sark couple from director roles...Lock icon

A husband and wife from the Channel Island of Sark have each been banned from acting as company directors for 15 years after they were convicted and imprisoned for conducting regulated business without a licence and obstructing justice.

Published : 17, Aug 2017
Italy emerging as stand-out haven for the super wealthy

Italy emerging as stand-out haven for the super...Lock icon

A new flat rate tax regime introduced in Italy earlier this year is putting the nation on the map of potential destinations for super-wealth expats of all nationalities, an expert has told International Adviser.

Published : 17, Aug 2017
VAM Funds signs distribution deal with Novia Global and OMI

VAM Funds signs distribution deal with Novia Global...

Luxembourg-based asset manager VAM Funds has signed a partnership with two platforms for the distribution of its fund ranges.

Published : 17, Aug 2017
Blacklisted tax havens could face four types of sanctions

Blacklisted tax havens could face four types of...

The European Commission is understood to be looking at four kinds of sanctions targeted at jurisdictions on its planned tax haven blacklist which is due to be finalised at the end of this year.

Published : 17, Aug 2017
Abu Dhabi creates foundations framework for wealth management

Abu Dhabi creates foundations framework for wealth...

Abu Dhabi Global Market (ADGM), the financial free zone in the capital of the UAE, has launched of a new legal structure to support the growth of its wealth management industry.

Published : 17, Aug 2017
Repealing South African expat tax not ‘crazy’ says tax chief

Repealing South African expat tax not ‘crazy’...

A plan to scrap an exemption on taxing foreign employment income is not a “crazy proposal” when compared with other jurisdictions, the head of tax and financial sector policy at South Africa’s National Treasury has said.

Published : 17, Aug 2017
Could today's India outshine yesterday's China?

Could today's India outshine yesterday's China?...

Though it might be tempting to view today’s India as yesterday’s China, Rathbones’ head of asset allocation Ed Smith thinks the region's growth prospects could be even greater based on five key indicators.

Published : 17, Aug 2017
IMF warns of 'dangerous' trajectory for Chinese debt

IMF warns of 'dangerous' trajectory for Chinese...

China’s growth outlook is expected to improve between 2017 and 2021, but the country’s rising debt level skews the figures and raises strong concerns, according to the International Monetary Fund.

Published : 17, Aug 2017
Sipps among most complained about UK financial products

Sipps among most complained about UK financial...Lock icon

The UK's Financial Ombudsman Service (FOS) received 59% more complaints about self-invested personal pensions (Sipps) in the first quarter of the 2017/2018 financial year compared to the same period a year before.

Published : 16, Aug 2017
Prudential restructure sees US broker network sell-off

Prudential restructure sees US broker network...

UK insurer Prudential has sold its US independent broker-dealer network to focus on local retirement products just days after announcing plans to merge its UK insurance and asset management businesses.

Published : 16, Aug 2017
Fraud trial of Lumiere Wealth’s Byrne set for summer 2018

Fraud trial of Lumiere Wealth’s Byrne set for...Lock icon

The former managing director of defunct Jersey-based IFA firm Lumiere Wealth, Chris Byrne, will likely stand trial in summer 2018 for, among other things, fraud and knowingly making misleading or deceptive promises to clients.

Published : 16, Aug 2017
Cost of one child’s education in UAE hits AED1m

Cost of one child’s education in UAE hits AED1m...

The cost of putting one child through education from pre-school through to university could reach almost AED1m (£211,456, $272,241, €232,584)for families in the United Arab Emirates (UAE), research from Zurich – Middle East shows.

Published : 16, Aug 2017
DeVere’s Europe expansion continues with first Austria office

DeVere’s Europe expansion continues with first...Lock icon

DeVere Group is to open its first office in Austria as part of its “ambitious expansion” across western Europe, which saw the company re-open its office in Madrid three years after shutting it down.

Published : 16, Aug 2017
Axa Life Singapore ordered to pay $3m over bad reference

Axa Life Singapore ordered to pay $3m over bad...Lock icon

Axa Life Insurance Singapore has been ordered by the country’s High Court to pay compensation to a former employee for providing an unflattering reference to the Monetary Authority of Singapore (Mas) and his prospective employer, Prudential Assurance Company Singapore.

Published : 16, Aug 2017
Alibaba sets up Hong Kong wealth management firm

Alibaba sets up Hong Kong wealth management firm...

A subsidiary of Chinese e-commerce giant Alibaba has set up a wealth management business in Hong Kong and hired a former UBS director of ultra-high net worth assets as managing director.

Published : 16, Aug 2017
Three charged in US oil drilling scam promising 55% returns

Three charged in US oil drilling scam promising...Lock icon

The US Securities and Exchange Commission has charged two men and an accomplice with defrauding $15m (£11.6m, €12.7m) from more than 150 investors in a scam that promised high returns from an oil drilling investment opportunity.

Published : 15, Aug 2017
How to make the most of unused inheritance tax allowance

How to make the most of unused inheritance tax...Lock icon

The UK tax office has recently updated its rules for transferring any unused portion of basic and additional IHT thresholds when the first person in a marriage or civil partnership dies.

Football clubs feeling the heat of HMRC scrutiny

Football clubs feeling the heat of HMRC scrutiny...Lock icon

Following raids by HM Revenue & Customs on Newcastle United and West Ham and with over 40 players and 12 teams under review, football clubs in the UK are taking a more proactive approach to tax.

Published : 15, Aug 2017
Wide profit gap at FTSE 100 firms sparks talk results spun

Wide profit gap at FTSE 100 firms sparks talk...

The gap between stated and adjusted profits for FTSE 100 companies is at a 10-year high, according to AJ Bell which has raised fears firms are intentionally “muddying the waters”.

Published : 15, Aug 2017
Demand for CII pension transfer qualification soars

Demand for CII pension transfer qualification...Lock icon

More than 500 people signed up to the Chartered Insurance Institute’s (CII) pension transfers qualification in the first week of its launch on the back of the Financial Conduct Authority (FCA) tightening advice requirements for the transfer of safeguarded benefits.

Published : 15, Aug 2017

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