Industry
Best Practice | 23 Aug 17
Analysis: Insistent client advice needs two suitability reports
Advisers are mulling the implications of FCA plans to incorporate the term ‘insistent client’ into its handbook guidance. The regulator has outlined what it sees as best practice – a move that could see advisers producing two suitability reports, with a particular focus on pension transfer advice.
Tax & Regulation | 23 Aug 17
FCA finds compliance officer with 20-yr record unfit for role
The Financial Conduct Authority has refused to let a compliance officer with nearly 20 years of experience carry out certain controlled functions on behalf of online trader Goldenway Global Investments.
Analysis: Why do UK advisers have to follow EU rules?
Portfolio advisers are increasingly asking themselves why they are having to deal with so much regulatory change emanating from the EU, given the fast approaching deadline for Brexit in March 2019.
North America | 23 Aug 17
US adviser creates alter ego to defraud pro athlete over fees
The US Securities and Exchange Commission (SEC) has charged an adviser with defrauding a professional athlete and his wife by deceiving them about the advisory fees they were paying and making up a person to testify to his goodwill.
Tax & Regulation | 23 Aug 17
UK taxman tasks IFAs with warning offshore account holders
HM Revenue & Customs (HMRC) is warning taxpayers that failing to disclose their offshore accounts could lead to “life-changing consequences” in a letter being sent to millions of individuals via their financial institutions and advisers.