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Qrops transfer rights secured but specialist advice essential

Qrops transfer rights secured but specialist advice...Lock icon

The UK government’s decision to make pension transfers into recognised overseas schemes a statutory right has been welcomed by the industry, but experts caution that advisers will need real expertise to ensure clients don’t fall victim to scams.

Analysis: UK Government needs to act quickly on cold calling

Analysis: UK Government needs to act quickly on...Lock icon

While welcoming the UK Government's decision to resurrect a ban on pension cold calling, many industry figures have expressed concerns on how long it will take to implement.

Published : 21, Aug 2017
Government revives pensions cold calling crackdown

Government revives pensions cold calling crackdown...

IFAs have not unanimously welcomed the UK Government's revived and extended plans for a ban on pension cold calling, announced Monday as part of a raft of measures to tackle pension scams.

Published : 21, Aug 2017
UK retirement income down 46% since the financial crash

UK retirement income down 46% since the financial...

People retiring now must cope with pension income that is 46% lower than they could have expected had they retired immediately before the global financial crisis, analysis from Fidelity International has found.

Published : 21, Aug 2017
UK to limit right to transfer pensions but will include Qrops

UK to limit right to transfer pensions but will...Lock icon

As part of its crackdown on pension scams, HM Treasury has confirmed that it will limit the statutory right to transfer but will extend the proposed criteria to include qualifying recognised overseas pension schemes (Qrops).

CISI teams up with university to offer pre-graduation exams

CISI teams up with university to offer pre-graduation...

The Chartered Institute for Securities & Investment (Cisi) and Birmingham City University (BCU) have forged a partnership to give young graduates the opportunity to sit professional qualifications in financial services before finishing their degrees.

Published : 18, Aug 2017
Ex-IFA jailed for stealing £1m from client pension funds

Ex-IFA jailed for stealing £1m from client pension...Lock icon

A former UK adviser has been jailed for six years and banned from being a company director for eight after he was convicted of stealing £1m ($1.29m, €1.1m) of clients’ money via a self-invested personal pension scheme he invented.

Published : 18, Aug 2017
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
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
Shift to defensive assets urges Architas

Shift to defensive assets urges Architas

Architas has warned that investors should begin shifting towards defensive assets before volatility strikes markets in the latter half of 2017.

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
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
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
More UK pension trustees to be hit with higher penalties

More UK pension trustees to be hit with higher...Lock icon

The Pensions Regulator is stepping up how it uses its enforcement powers, which includes financial penalties, and expanding who it considers to be a professional trustee.

Published : 14, Aug 2017
Coutts loses ombudsman fight over discretionary portfolios

Coutts loses ombudsman fight over discretionary...

A couple who claimed Coutts mismanaged their discretionary portfolios have won a fight for compensation after taking their case to the Financial Ombudsman Service (FOS).

Published : 14, Aug 2017
Standard Life Aberdeen creates £11bn investment giant

Standard Life Aberdeen creates £11bn investment...

The formation of investment giant Standard Life Aberdeen has been finalised, the company confirmed on Monday.

Published : 14, Aug 2017
Mazars cleared of bad advice charge by UK Ombudsman

Mazars cleared of bad advice charge by UK Ombudsman...Lock icon

A man who had to pay additional taxes after losing his lifetime allowance (LTA) protection on his pension plans was not poorly advised by the financial planning arm of UK accountancy firm Mazars, the ombudsman has found.

Published : 11, Aug 2017

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

Axa Life Insurance Singapore has been ordered by the...

Ex-IFA jailed for stealing £1m from client pension funds
Ex-IFA jailed for stealing...Lock icon

A former UK adviser has been jailed for six years and...

UK to limit right to transfer pensions but will include Qrops
UK to limit right to...Lock icon

As part of its crackdown on pension scams, HM Treasury...

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