Tax & Regulation
North America | 6 Feb 17
US adviser stole $5m for private jet service and Vegas house
A former Morgan Stanley investment adviser has been charged with stealing around $5m (£4m, €4.6m) from clients to rent a home in Las Vegas, pay for country club membership, and a private jet service.
North America | 3 Feb 17
Trump slams brakes on fiduciary rule
Donald Trump is to sign a directive halting the implementation of the Department of Labor’s fiduciary rule, which requires financial advisers of retirement products to act in the best interests of their clients.
Tax & Regulation | 3 Feb 17
UK introduces £1,500 tax free pension advice allowance
UK savers planning their retirement will be able to withdraw up to £1,500 ($1,893, €1,754) from their pension pots tax-free to pay for financial advice, under plans unveiled by the British government on Friday.
Tax & Regulation | 3 Feb 17
DeVere UK no longer providing overseas pension transfer advice
DeVere UK has stopped providing advice on overseas pensions transfers, a spokesperson has confirmed to International Adviser.
Swiss regulator fines Coutts $6.6m for role in 1MDB scandal
Switzerland’s financial regulator has fined Coutts & Co, which counts the Queen among its clients, for violating money-laundering rules and illegally profiting from transactions associated with 1Malaysia Development Bhd (1MDB).