Industry
Retirement | 26 Oct 16
HMRC data shows £7.6bn withdrawn since UK pension reforms
Nearly £7.6bn ($9.2bn, €8.5bn) has been paid out of UK pensions since reforms came into effect in April last year, according to the latest figures published by HM Revenue & Customs (HMRC).
IFA bdhSterling denies a fall in demand for Rops
The director of the newly-rebranded bdhSterling has revealed that the advisory firm has seen a dramatic increase in the number of clients looking transfer their pension into a recognised overseas pension schemes (Rops).
Best Practice | 26 Oct 16
UK regulator looks to redefine its future scope
The UK’s Financial Conduct Authority (FCA) has begun a consultation with the finance industry to identify which areas of regulation it should focus its resources on in the future.
Middle East | 26 Oct 16
Kuwait rejects a separate insurance regulator
Kuwait’s Ministry of Commerce and Industry has rejected a proposal to establish a separate body to oversee the insurance industry, despite wide-sweeping reforms to sector’s capital adequacy requirements.
South Africa contemplates introducing new wealth tax
South Africa’s government could be looking to introduce a wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.