Tax & Regulation
Tax & Regulation | 24 Feb 16
Little proof FCA actions reduce mis-selling – NAO
The Financial Conduct Authority lacks “good evidence” that its enforcement actions are helping to reduce levels of mis-selling of financial services products, according to the National Audit Office (NAO).
EEA status a bigger issue than Brexit
The big question for international advisers isn’t Brexit but whether or not the UK is granted European Economic Area status, according to the Federation of European IFAs.
Commodities | 23 Feb 16
IMF calls on Gulf nations to widen their tax base
The newly-reappointed head of the IMF has called on Gulf countries to re-engineer their tax systems and consider greater use of corporate income taxes, as well as property and excise taxes to bolster government revenues in the face of lower oil prices.
Tax & Regulation | 23 Feb 16
FCA fine WH Ireland £1.2m for market abuse failures
UK wealth manager WH Ireland has been fined £1.2m ($1.7m) and restricted for 72 days from taking on new corporate broking clients for failing to sufficiently protect against the risk of market abuse.
AIFMD having little impact on US fund managers
The scale of activity of US alternative fund managers in Europe has been barely affected by the introduction of the EU’s Alternative Investment Fund Managers Directive (AIFMD).