United Kingdom
Tax & Regulation | 23 Jan 17
73-year-old London broker jailed in £1.2m Ponzi scheme
A former Charles Stanley stockbroker was jailed for six years after pleading guilty to conning investors, including some of his friends, out of £1.2m ($1.5m, €1.4m) in a Ponzi scheme.
Tax & Regulation | 23 Jan 17
Regulatory costs the biggest challenge facing advice firms
Regulatory and compliance costs will be one of the biggest threats to financial advice businesses in the UK over the next three years, the Personal Finance Society’s (PFS) 2016 Member Survey found.
UK advisers to recruit as more pass £1m income barrier
A third of UK advice firms reported annual income of more than £1m ($1.23m, €1.16m) in 2016, with nearly half of all firms planning to recruit in 2017, according to a survey from insurance giant Aviva.
Tax & Regulation | 20 Jan 17
97% drop in FCA fines not a return to light touch regulation
The more than 97% decrease in fines levied by the UK regulator against financial institutions does not signal a return to light touch regulation, says Mark Steward, director of enforcement and market oversight at the Financial Conduct Authority (FCA).
Tax & Regulation | 20 Jan 17
Beneficial ownership data requests may breach UK legal rights
Requests from HM Revenue & Customs (HMRC) for beneficial ownership information on offshore companies and trusts may conflict with legal professional privilege (LPP), says the Law Society of England and Wales.