United Kingdom
Phoenix squeezes more cash out of Axa deal than expected
Phoenix Group, Britain’s largest closed life fund consolidator, doubled operating profit during the first six months of 2017 as it said the cash earned from the Axa acquisition last year had been generated more rapidly than expected.
Best Practice | 24 Aug 17
Aussie IFA body pushes for reform of ‘independent’ definition
The Australian Association of Independently Owned Financial Professionals (AIOFP) has stepped up efforts to amend the legal definition of “independent advice” through the publication of a white paper seeking to challenge the regulator’s views.
Tax & Regulation | 23 Aug 17
FCA finds compliance officer with 20-yr record unfit for role
The Financial Conduct Authority has refused to let a compliance officer with nearly 20 years of experience carry out certain controlled functions on behalf of online trader Goldenway Global Investments.
Analysis: Why do UK advisers have to follow EU rules?
Portfolio advisers are increasingly asking themselves why they are having to deal with so much regulatory change emanating from the EU, given the fast approaching deadline for Brexit in March 2019.
Tax & Regulation | 23 Aug 17
UK taxman tasks IFAs with warning offshore account holders
HM Revenue & Customs (HMRC) is warning taxpayers that failing to disclose their offshore accounts could lead to “life-changing consequences” in a letter being sent to millions of individuals via their financial institutions and advisers.