Europe
France, Germany and Italy against EU-wide ban on commission
France, Germany and Italy are against introducing a complete ban on commission in their financial services industries despite pressure from the EU, according to Michael Lodhi, chairman of dual headquartered Paris and Barcelona-based Spectrum IFA Group.
Isle of Man hits out at ‘political’ EU blacklist of tax havens
Isle of Man chief minister Allan Bell has questioned plans by the European Commission to create a blacklist of non-EU tax regimes, branding the move as more to do with the “internal politics of Brussels” than greater transparency.
Capital Group brings ‘New World’ EM fund to Europe
Capital Group has announced it will make its emerging markets strategy available to investors outside the US this October via a Luxembourg vehicle.
Over 20 EU states call for one-year delay to Priips roll out
Twenty-three countries in the European Union have backed a 12-month delay to the introduction of the controversial Priips legislation, following a landmark rejection of its regulatory technical standards (RTS) by the European parliament (EP) last week.
HMRC rakes in £126m from lifetime allowance penalties
HM Revenue & Customs has reported a significant rise in the number of British savers breaching the lifetime pension allowance (LTA) over the past year, collecting £126m ($163m, €146m) in additional tax revenue between 2015/16, up 38% from £78m the previous year.