Tax & Regulation
Tax & Regulation | 2 Dec 16
UK politicians slam HMRC over lack of tax relief scrutiny
British MPs have criticised HM Revenue & Customs (HMRC) over its lack of scrutiny on whether tax reliefs are being used effectively, raising doubts about plans to digitise its services.
Singapore bans star dealmaker as banks fined £5.3m over 1MDB
An ex-Goldman Sachs banker is facing a ban from Singapore’s securities industry , while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.
IFA fined £234k for ‘McDonald’s advice’ on doomed Harlequin
The head of a UK IFA firm, which was one of the biggest sellers of the ill-fated Harlequin Property investments, has been fined £233,600 (€274,259, $291,491) for the poor advice he doled out to pension clients.
Best Practice | 1 Dec 16
Australia passes law to slash upfront life commissions
The Australian government has passed a law that will significantly reduce the upfront commissions paid on life insurance products and cap ongoing charges.
North America | 30 Nov 16
Industry still fears Trump will veto US adviser reforms
As President-elect Donald Trump prepares to take the helm in the most powerful job on Earth, the advice industry has continued to raise concerns he may scrap the US Department of Labor’s (DoL) upcoming fiduciary rule, requiring specialist retirement advisers to put their client’s interests first.