Tax & Regulation

Investment | 20 Oct 16

Merrill Lynch, one of the ‘big four’ investment banks in the US, will no longer work with US citizens living abroad following the closure of all expat accounts earlier this month, a UK-based IFA firm has confirmed.

North America | 20 Oct 16

Israel-based Bank Leumi will pay $1.6m (£1.3m, €1.45m) and admit wrongdoing to settle charges from the US Securities and Exchange Commission that it provided investment advice to US customers for over 10 years without registering as an investment adviser or broker-dealer.

Best Practice | 20 Oct 16

The gap between between the amount of tax HM Revenue & Customs expected to collect in the last financial year and what it actually raised has fallen to its lowest ever level, and is now one of the smallest in the world.

Best Practice | 20 Oct 16

An annual property tax proposed last week by the Portuguese government on homes worth over €600,000 (£538,572, $660,108), may be “beneficial” for some of the thousands of British expats settled there, according to two leading tax experts.

Best Practice | 19 Oct 16

EU insurance regulator Eiopa is planning to change the current Solvency II regulations to limit the ravages that super-low interest rates are having on the industry.