United Kingdom
Retirement | 29 Nov 16
HMRC’s planned overhaul will ‘decimate’ Rops market, says IFA
The UK’s plan to abolish the 70% ‘income for life’ rule on recognised overseas pension schemes (Rops) will “decimate” the market for such products, according to the head of expat-focused IFA firm, Montfort International.
Malta the ‘big winner’ of UK’s extensive Rops reforms
Malta will be the “main winner” of HM Revenue & Customs’ plan to change the ‘eligibility criteria’ for foreign pensions to qualify as recognised overseas pensions schemes (Rops), according to the director of European IFA firm Blevins Franks.
United Kingdom | 28 Nov 16
Ex-Providence director cleared of fondling waitress
Steve Dewsnip, one of the former directors of the collapsed Guernsey-based Providence Investments Funds, has been cleared sexually assaulting a waitress at Wembley Stadium.
Best Practice | 28 Nov 16
Barclays launches online investment service
British bank Barclays has launched an online investment service in an effort to help plug the savings and advice gap.
Aberdeen’s profit slides as net outflows continue
Aberdeen Asset Management has reported £32.8bn ($40.9bn, €38.6bn) in net outflows for the year to 30 September 2016 after negative economic and political news “weighed on investor sentiment”, according to chief executive Martin Gilbert.