United Kingdom
Retirement | 1 Dec 16
Dodgy Sipps claims to drive up FSCS levy on UK advisers
The UK’s Financial Services Compensation Scheme (FSCS) has warned it may impose an interim levy on life and pension advisers over the increasing number of claims related to self-invested personal pension schemes (Sipps).
United Kingdom | 30 Nov 16
Director of collapsed IFA firm banned after £4m goes missing
The director of a bankrupt UK-based IFA firm, who also ran a trading room, has been disqualified for eight years for failing to account for more than £4m ($4.9m, €4.6m) of client’s money, the Insolvency Service has revealed.
Pacific Investments launches asset management business
Sir John Beckwith’s Pacific Investments group has launched Pacific Asset Management (PAM), which will initially focus on the multi-asset retail space, with institutional fund launches planned at a later stage.
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.