Tax & Regulation
Advisers frustrated by platform switching
UK regulator worried that established clients are stuck on expensive legacy platforms
Australia’s fee-for-no-service compensation to hit A$850m
Financial institutions have already paid out A$259.6m
Cyprus clamps down on shell companies
Tax residence benefits are only for businesses that have real substance, says central bank
Regulator warns 12 DB pension schemes over transfer activity
The UK Pensions Regulator has written to the trustees of 12 different defined benefit (DB) pensions schemes regarding transfer activity.
UK lifeboat scheme off the hook for Beaufort compensation
The UK’s Financial Services Compensation Scheme (FSCS) will not have to pay full compensation to clients of collapsed Beaufort Asset Clearing Services after the High Court approved a plan to return client money and assets.