United Kingdom
Goldman Sachs to sell entire Rothesay Life stake
Goldman Sachs has agreed to sell its remaining stake in UK-based life insurer Rothesay Life to MassMutual Life Insurance and to funds managed or advised by investment firm Blackstone and Singaporean fund management company GIC.
Retirement | 9 Aug 17
Sharp rise in UK advice firms providing pension transfers
There has been a 17% increase in the number of UK financial advice firms with regulatory permission to conduct defined benefit (DB) pension transfers over the past financial year, as demand from clients continues to rise.
Tax & Regulation | 9 Aug 17
Ban and fine against former UK adviser network CEO upheld
An appeal by the former chief executive of an adviser network to overturn a ban on having any ‘significant influence’ on any regulated activity has been struck down and a fine upheld by the UK’s Upper Tribunal Tax and Chancery Chamber.
Tax & Regulation | 8 Aug 17
More dawn raids on tax evaders as HMRC ramps up action
Dawn raids on suspected tax evaders by UK authorities are up by a third to 669 over the five years to March, as HM Revenue & Customs steps up its pursuit of white-collar fraudsters, reports the Financial Times.
Retirement | 8 Aug 17
Trust in pension advice being destroyed warns advice firm boss
The public’s trust in pension advice is being destroyed by “so-called industry experts”, the boss of retirement advice firm UK Workplace Solutions has warned.