United Kingdom
Tax & Regulation | 14 Jul 17
FCA fines compliance officer for pension transfer failings
The UK watchdog has fined a compliance oversight officer after two companies he worked for gave unsuitable advice to around 500 customers who transferred £12.7m ($16.4m, €13.6m) out of their DB pension schemes.
Tax & Regulation | 14 Jul 17
HMRC tax clampdown brings £29bn boost to UK government coffers
HM Revenue & Customs’ action on tax avoidance, evasion and organised crime has brought in record additional revenues of £29bn ($37.6bn, €32.9bn) in the past fiscal year, as revealed in its latest annual report.
Tax & Regulation | 13 Jul 17
UK to bring in non-dom reforms ‘as soon as possible’
The UK government has announced it will introduce long-anticipated changes to the rules governing non-UK domiciles “as soon as possible”, after they were postponed earlier this year because of the snap election.
Claims over ‘risky’ Sipp investments up nearly 35%
The Financial Services Compensation Scheme (FSCS) forked out £105m ($135.6m, €119.1m) in 2016/17 to compensate clients who were wrongly advised to transfer their savings into “risky assets” held in self-invested personal pension schemes (Sipps).
Woman jailed for faking own death in £140k life insurance scam
A mother and her son have been convicted of insurance fraud by UK police after the pair faked the mother’s death in Zanzibar to claim £140,000 ($174,387, € 163,557) on her life policy.