Industry
HSBC sees profits slide after shedding Brazil business
HSBC reported an 86% decline in Q3 profits having sold its Brazilian business, changed its credit spread, and faced a strengthening US dollar.
Sovereign Group cuts fees on Rops
International pensions provider Sovereign Group has removed ‘ad hoc’ transactional fees from all its new and existing recognised overseas pensions scheme (Rops) products.
Offshore Bonds | 4 Nov 16
HMRC decision on 5% life withdrawals ‘weeks away’
HM Revenue and Customs (HMRC) has confirmed that changes to the 5% tax free withdrawal from offshore bonds will not be announced until after the chancellor’s Autumn statement on 23 November.
French prosecutor pursues HSBC in €180bn tax fraud case
A French prosecutor has called for HSBC to stand trial for helping clients hide more than €180bn (£161.3bn, $199.8bn) in offshore tax havens from the country’s tax authorities, French news agency AFP has reported.
Royal London AM reports jump in managed assets
UK investment house Royal London Asset Management (RLAM) has announced that total funds under management by the group has exceeded £100bn for the first time.