United Kingdom

Tax & Regulation | 22 Jul 16

The UK supreme court has ruled that lies that do not impact an insurance claim should not necessarily invalidate the policy, but an industry body has warned that the ruling is a “blow for honest customers”.

Property | 22 Jul 16

The UK’s largest open-ended property funds gated flows or implemented exit charges to prevent a post-Brexit run on the asset class earlier this month, trapping £15bn ($19.8bn, €18bn) of investors’ cash and casting a cloud over the City. But many flexible investors were able to see the warning signs and evade the net, says David Coombs, Rathbones’ head of multi-asset investments.

Tax & Regulation | 21 Jul 16

Three UK tax advisers have been arrested as part of a HM Revenue & Customs (HMRC) investigation into a suspected £132m ($173m, €157m) fraud involving offshore trusts.

Property | 21 Jul 16

Aberdeen has reduced the dilution adjustment on its UK Property Fund and its feeder unit on the back of slowing redemptions the firm said.

Tax & Regulation | 20 Jul 16

UK Financial Conduct Authority chief executive Andrew Bailey has admitted to the government’s Treasury Select Committee that proposals made by the Financial Advice Market Review may not solve the advice gap, which was in part created by the Retail Distribution Review.