Tax & Regulation
Five UK insurers facing FCA review over customer treatment
Old Mutual, Prudential and Abbey Life are among five companies still under investigation by the Financial Conduct Authority over concerns about the transparency of exit and penalty charges in the firms’ closed-book life insurance policies.
Advisers in UAE face tougher environment for financial planning
The chief executive of a leading UAE advice firm has warned that increased regulation will reduce the survival prospects for many financial consultancy firms in the Emirates if the obvious warnings from regulators are ignored.
Malta watchdog orders trust firm to halt business
The Malta Financial Services Authority (MFSA) has ordered Confiance Malta Ltd to “immediately” transfer its trusts and fiduciary business to another local provider after it fell short of expected standards.
Harlequin open to bad advice claims after Ucis ruling
Clients of UK advisers who claim they were mis-sold the collapsed Harlequin Caribbean property Ucis investment may be eligible for financial redress from the UK’s Financial Services Compensation Scheme (FSCS).
HMRC deadline pushed back for trusts tax planning register
HM Revenue & Customs has given a two-month extension to an October deadline for trusts to be registered, following complaints that the original date did not give enough time to complete registration.