Tax & Regulation
Wealth management in S.Korea to become a ‘common concept’
Introducing a fee-based only regime for South Korea’s financial advisory sector, as proposed by the country’s regulator, will help wealth management become “a more common concept” for Korean investors, said Young Soo Kim, head of distribution at Schroders Korea.
DeVere Group Hong Kong Ltd fined HK$2.5m by regulator
DeVere Group Hong Kong Ltd, which is no longer owned by the deVere Group, has been fined by the Hong Kong insurance regulator after a lengthy investigation into various breaches of its regulations.
Tax & Regulation | 18 Apr 16
UK tax office details new “evasion facilitation” offence
The British government has published details of its proposed new law making senior management of a financial services firm criminally liable if any member of staff facilitates tax evasion, and has called on the industry to provide feedback.
Tax & Regulation | 15 Apr 16
HMRC not doing enough to tackle tax fraud
HM Revenue & Customs has been accused of not doing enough to tackle tax fraud and making “only limited progress” in reducing the UK’s tax losses, according to the House of Commons’ Public Accounts Committee (PAC).
European nations agree new information sharing deal
Britain, Germany, France, Italy and Spain have signed a deal to automatically share information on the ultimate owners of companies in the latest move to tackle the growing use of international financial centers to dodge taxes.