Tax & Regulation
Insurer AMP faces two class action lawsuits
After a bruising appearance at Australia’s Royal Commission, AMP has been served with two class action proceedings, while the firm’s interim chief executive offers a mea culpa and shareholders reject pay proposals.
Best Practice | 10 May 18
Australia moves to stop erosion of superannuation funds
The Australian Government has unveiled plans to ban exit fees and cap administration and investment fees to protect super accounts with low balances from excessive erosion.
Beaufort clients face covering £100m liquidation costs
Clients of collapsed Beaufort Securities could lose up to 40% of the value of their holdings to cover liquidation costs, bringing into question the whole system of regulatory and legal protection of investors in the UK, according to campaign group ShareSoc.
Aussie advisers to pay for Royal Commission clean up
Financial institutions and advisers will be hit with higher levies after the Australian Government announced additional funding for two regulatory bodies to support their work with the ongoing Royal Commission.
UK working pensioners to pay National Insurance?
UK pensioners who are still working could have to pay National Insurance (NI) contributions to help fund their care in later life, according to plans being considered by the government.