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Harlequin Property creditors called to bankruptcy meeting

Harlequin Property creditors called to bankruptcy...Lock icon

Creditors of stricken overseas investment scheme Harlequin Property SVG have been invited to a meeting on 31 March 2017 to vote on the appointment of a bankruptcy trustee and investigators.

Quilter's bets on 'Trump lite'; remains wary of 'dark Donald'

Quilter's bets on 'Trump lite'; remains wary of...Lock icon

Quilter Cheviot’s Alan McIntosh is optimistic about what president Trump will mean for markets but with Brexit and European elections still to come this year, he is hedging some of his bets.

Published : 13, Mar 2017
IoM regulator open to dialogue on commission disclosure rules

IoM regulator open to dialogue on commission disclosure...Lock icon

The Isle of Man’s financial regulator has underlined the importance of fine-tuning the scope and timing of its commission disclosure rules for international life companies, amid industry concerns about an unlevel playing field with local companies in markets such as the UAE.

Published : 13, Mar 2017
Ex-Goldman Sachs banker banned in 1MDB scandal

Ex-Goldman Sachs banker banned in 1MDB scandal...Lock icon

Former Goldman Sachs director Tim Leissner has been banned from working in Singapore’s financial services industry for 10 years for his involvement with stricken Malaysian sovereign wealth fund 1MDB, with further prohibition orders expected.

Published : 13, Mar 2017
Ten industry views on the Qrops hammer blow

Ten industry views on the Qrops hammer blowLock icon

As the week comes to an end in which the Spring Budget slapped a surprise 25% overseas pension transfer charge in particular circumstances, here are the views on what it means from a cross section of the industry.

Published : 10, Mar 2017
Edgy deadlines for Qrops market, devil in planning detail

Edgy deadlines for Qrops market, devil in planning...Lock icon

Those operating in the Qrops market are now facing three crucial deadlines starting from today, as the implications of the hammer blow of a 25% overseas pension transfer charge applying to client pension pots in some circumstances sink in for advisers, providers and their clients.

Published : 9, Mar 2017
Aviva strengthens foothold in Singapore with 420 advisers

Aviva strengthens foothold in Singapore with 420...Lock icon

Insurance giant Aviva has revealed it employs 420 financial advisers in its Singapore advisory unit which was established less than a year ago.

Published : 9, Mar 2017
HMRC sets two year window to appeal offshore bond withdrawals

HMRC sets two year window to appeal offshore bond...Lock icon

The UK tax office has given policyholders two years to appeal ‘unfair’ or disproportionate tax bills resulting from ‘mistaken’ withdrawals from life policies.

Property, tax and IHT planning under the new UK non-doms regime

Property, tax and IHT planning under the new UK...Lock icon

With changes to the UK non-domicile regime set to go live next month, Canada Life’s Neil Jones talks through what the reforms mean for property, taxation and IHT planning.

UK cuts tax free dividend allowance to £2k

UK cuts tax free dividend allowance to £2kLock icon

The UK government has slashed the tax free dividend allowance will be reduced from £5,000 (€5,774, $6,108) to £2,000, chancellor Phillip Hammond announced in the Spring Budget on Wednesday.

Published : 8, Mar 2017
Surprise 25% Qrops charge rocks UK pension transfer market

Surprise 25% Qrops charge rocks UK pension transfer...Lock icon

The UK government’s shock decision to impose a 25% charge on transfers to foreign pension schemes announced in the Spring Budget could go as far as to "shut down" the Qrops market, according to industry observers.

Published : 8, Mar 2017
UK compensation scheme offers lifeline to Arch Cru investors

UK compensation scheme offers lifeline to Arch...Lock icon

Investors in the ill-fated CF Arch Cru Funds have been offered the opportunity to have their claims reviewed and settled now by the Financial Services Compensation Scheme (FSCS), after it was revealed that the funds will not be wound up until December 2018 at the earliest.

Published : 8, Mar 2017
Sentiment towards UK equities sinks to post-crisis low

Sentiment towards UK equities sinks to post-crisis...Lock icon

Fund manager sentiment towards UK equities has reached its lowest point since the financial crisis. Asset managers expect the asset class to post a negative return over the next 12 months.

Published : 8, Mar 2017
Canada taxman denies amnesty as more IoM schemes uncovered

Canada taxman denies amnesty as more IoM schemes...Lock icon

The Canada Revenue Agency (CRA) has denied it is offering an amnesty to citizens using offshore company structures to avoid paying tax, adding that it is investigating a number of schemes it has uncovered on the Isle of Man.

Published : 7, Mar 2017
UK advisers to alert HMRC if clients use offshore tax structures

UK advisers to alert HMRC if clients use offshore...Lock icon

Financial advisers in the UK could be required to notify HMRC of all clients using offshore tax planning structures, according to George Bull, a senior tax partner at tax and consulting firm RSM, adding that the measure could be rolled out in the UK’s last ever Spring Budget on Wednesday.

Published : 7, Mar 2017
PEOPLE MOVES: Standard Life/Aberdeen, RWC Partners, Zedra

PEOPLE MOVES: Standard Life/Aberdeen, RWC Partners,...Lock icon

New senior management team unveiled for the soon to be merged Standard Life and Aberdeen Asset Management. Amundi has appointed a head of consultant relations, with Zedra hiring an executive director to target growth opportunities.

Published : 7, Mar 2017
ANALYSIS: Aberdeen/SL deal ushers in new wave of M&A

ANALYSIS: Aberdeen/SL deal ushers in new wave...Lock icon

After being forced to confirm discussions about a potential £11bn (€12.7bn, $13.5bn) merger, does the consolidation of Standard Life and Aberdeen Asset Management prove a new wave of M&A in fund management is on its way?

Published : 6, Mar 2017
Canada vows to curb tax dodgers amid KPMG offshore scandal

Canada vows to curb tax dodgers amid KPMG offshore...Lock icon

Canadian prime minister Justin Trudeau has vowed to do a “better job” tackling tax evasion and tax avoidance following a high-profile exposé into how wealthy individuals used an Isle of Man-linked offshore scheme to avoid paying C$130m (£79m, $97m, €91m) in taxes.

Published : 6, Mar 2017
Bringing Spain’s financial advice up to Speed

Bringing Spain’s financial advice up to SpeedLock icon

Andrea Speed is leading by example in trying to improve the quality of advice and industry practice in Spain.

Published : 6, Mar 2017
South Africa delays financial regulator overhaul

South Africa delays financial regulator overhaul...Lock icon

Changes that would have seen South Africa’s Financial Services Board (FSB) rebranded, handed a new mandate, and the introduction of a ‘Twin Peaks’ regulatory system have been postponed.

Published : 3, Mar 2017

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