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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
UK and Spain to probe £120m storage pod pension scams

UK and Spain to probe £120m storage pod pension...

The UK’s Serious Fraud Office is working with the Spanish authorities to investigate the promoters of self-storage investment schemes, warning that £120m (€139m, $156m) of investors’ money could be at risk.

Published : 23, May 2017
Competition watchdog to scrutinise Standard Life/Aberdeen deal

Competition watchdog to scrutinise Standard Life/Aberdeen...

A UK government watchdog has announced an investigation into the merger of Standard Life and Aberdeen Asset Management, to ensure it does not damage competition in the industry.

Published : 22, 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
AJ Bell grows revenues amid record new client sign-ups

AJ Bell grows revenues amid record new client...

Online investment platform AJ Bell has reported rapid growth in its revenues after it added almost 12,000 customers in the space of six months.

Published : 22, May 2017
UK leader steps up adviser clampdown over tax avoidance

UK leader steps up adviser clampdown over tax...

The UK’s Conservative Party has said it plans to impose “tougher regulations” on advisers who use aggressive tax planning as one of its campaign pledges ahead of next month’s general election.

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
WisdomTree offers short-duration SHAG to investors

WisdomTree offers short-duration SHAG to investors...

WisdomTree has united with Bloomberg Barclays to launch SHAG, an exchange-traded fund (ETF) targeting short-duration US fixed income.

Published : 19, May 2017
UK advisers turning to law firms as IHT changes bite

UK advisers turning to law firms as IHT changes...

Financial advisers expect a boom in demand for inheritance tax (IHT) advice and are looking to strengthen business partnerships with lawyers to help them cope.

Published : 18, May 2017
UK PM May proposes £100k ‘death tax’ social care cap

UK PM May proposes £100k ‘death tax’ social care...

British prime minister Theresa May has set out plans to significantly raise the threshold of personal assets at which people will be eligible for state help with residential care costs from £23,250 to £100,000 (€116,424, $129,396).

Published : 18, May 2017
Pacific AM buys stake in emerging markets equities manager

Pacific AM buys stake in emerging markets equities...Lock icon

Pacific Asset Management (PAM) has acquired a stake in London-based boutique investment manager North of South Capital, signalling a return to emerging markets for Pacific Investments Group co-founder John Beckwith following the sale of Thames River Capital, later Nevsky Capital, in 2010.

Published : 18, 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
Utmost Wealth’s Simon Willoughby in shock departure

Utmost Wealth’s Simon Willoughby in shock departure...Lock icon

Senior industry figure Simon Willoughby, head of proposition at Utmost Wealth Solutions, has been made redundant following an internal restructure.

Published : 17, May 2017
Millionaire investors short-termism due to 'information overload'

Millionaire investors short-termism due to 'information...

More than two-thirds of high net worth investors say they suffer from ‘information overload’ and admit being easily distracted by short-term developments in politics and the economy.

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
Hawksmoor director dies in walking accident

Hawksmoor director dies in walking accident

John Wynne, head of finance at Hawksmoor Investment Management, died on Sunday in a walking accident in Snowdonia.

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
Advisers are backing UK equities, says Aegon

Advisers are backing UK equities, says Aegon

A new poll from Aegon UK highlights that a significant portion of UK advisers are riding on UK equities to provide the best return for clients ahead of the snap election.

Published : 15, May 2017
UK pension fraud hits record high

UK pension fraud hits record high

Twenty-four victims of pension fraud lost a record £8.6m ($11.1m, €10.1m) in March 2017, a 10-fold increase from the previous month, figures from the City of London police reveal.

Published : 15, May 2017

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