Industry
Harlequin adviser banned and fined $60,000
The chief executive of a UK advice firm that distributed high-risk Harlequin products has been banned from holding any significant positions of influence or senior management.
Blackrock beats Vanguard in passive ratings
Blackrock’s iShares has fended off Vanguard to retain the top spot in FE’s latest Passive Crown ratings list.
Axa Life Europe sold in €1.2bn deal
French insurance giant Axa is to sell its Dublin-based closed book life business to private equity firm Cinven in a deal worth €1.17bn (£1.1bn, $1.4bn).
Phoenix Life admits error in closing Sipp
The UK’s Pensions Ombudsman has upheld a complaint against insurer Phoenix Life, but absolved financial product provider James Hay of any wrongdoing, after a self-invested personal pension (Sipp) was wrongly disinvested.
UK taxman hands £29m back to pensioners
HM Revenue & Customs processed 14,477 tax repayment claims forms in the three months ending 30 June 2018, handing back just under £29m ($38m, €32.5m) to people who had accessed their pensions.