Industry
Best Practice | 9 May 17
IoM eases pressure on life cos over commission disclosure
International insurance companies headquartered on the Isle of Man will only have to spell out to customers how much commission they will have to pay to intermediaries over the life of the product at the end of the sales process.
EU eyes ‘hard law’ approach to regulating advisers
The European Commission could follow in the footsteps of the UK by imposing fines and other disciplinary measures for advisers, who use “aggressive” tax planning schemes to help their clients avoid paying tax.
Tax & Regulation | 9 May 17
UK’s RDR has failed to bring advice to the masses
The Retail Distribution Review (RDR) regulations, which banned commission and introduced a fee-based model for advisers, has failed to improve the accessibility of financial advice, according to industry stalwart Peter Mann.
Tax & Regulation | 9 May 17
UK Sipp giant faces £1.8m tax bill over Guernsey biofuel scheme
UK Sipp provider James Hay has been hit with a £1.8m (€2.12m, $2.3m) tax bill from HM Revenue and Customs (HMRC) over the Guernsey-listed biofuel investment scheme Elysian Fuels.
PEOPLE MOVES: PineBridge, Guernsey Finance, Fidelity Int’l
PineBridge Investments has a new head of Switzerland and Austria, while Guernsey Finance has promoted its multilingual international business development director to deputy chief executive. Fidelity International has appointed a head of equity.