Tax & Regulation
UK regulator punishes advice firm for register failure
The Financial Conduct Authority (FCA) has taken strong action against a financial advice firm by cancelling its permissions after it failed to submit its regulatory returns.
Fines could drive UK pension cold-callers offshore
The UK Government has warned directors of companies who cold-call people regarding their pensions that they could be fined up to £500,000 ($663,562, €573,407), however one expert warns this may just drive their practices offshore.
FCA questioned over unregulated Sipp investments
The inclusion of unregulated and non-standard investments in self-invested personal pensions (Sipp) has been called into question by the UK’s Work and Pensions Committee.
Adviser charged for ploughing A$5.9m into sea snail scam
An Australian financial adviser who funnelled his clients’ money into a failed abalone farm has been charged with six counts of fraud totalling approximately A$5.9m (£3.3m, €3.8m, $4.4m).
Cayman Islands bids to alter constitution after UK ‘overreaches’
The Cayman Islands Government has entered into dialogue with the UK to change parts of its constitution, as it looks to prevent Britain being able to legislate and impose its will on the jurisdiction.