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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).

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
MassMutual Asia sold to investor group for $1bn

MassMutual Asia sold to investor group for $1bn...Lock icon

A finance firm set up by Alibaba founder Jack Ma has led the acquisition of Hong Kong-based MassMutual Asia by a group of regionally based investors.

Published : 18, Aug 2017
PEOPLE MOVES: Deutsche Bank, Liberty Sipp, Aegon

PEOPLE MOVES: Deutsche Bank, Liberty Sipp, Aegon...Lock icon

German behemoth Deutsche Bank has replaced its US chief Bill Woodley, while pension provider Liberty Sipp has a new finance and operations director, and life insurer Aegon UK a new head of marketing communications.

Published : 18, Aug 2017
Bull market party 'has to end'

Bull market party 'has to end'Lock icon

The problem with the dying days of an equity bull market is that it is difficult to be sure when it will end and how high it will go in the meantime. This, for Jim Wood-Smith, chief investment officer for private clients at Hawksmoor Investment Management, is the key dilemma in today’s markets. As he says: “We can see what will happen but we don’t know when.”

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
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
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
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
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
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
Why global bonds work as 'a hedge against equity market risk'

Why global bonds work as 'a hedge against equity...Lock icon

Improving economic conditions are likely to create pockets of value in parts of the global bond market, according to Morningstar.

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
'Dramatic year' fails to dent Praemium's growth

'Dramatic year' fails to dent Praemium's growth...Lock icon

Strong growth both in Australia and internationally pushed funds under administration at Praemium up 28% to A$6.1bn (£3.6bn, $4.7bn, €4bn) in spite of the boardroom turmoil that saw the company’s chief executive sacked and then return a few months later.

Published : 14, Aug 2017
Why the tech sector keeps on giving

Why the tech sector keeps on givingLock icon

Technology shares worldwide had a roaring first half of 2017, but questions are now being asked about the outlook as concerns grow over the prospects for some of the sector’s biggest names.

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...

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

The UK tax office has recently updated its rules for...

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...

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