United Kingdom
Tax & Regulation | 20 Apr 16
Fraudsters ordered to pay £11m in massive boiler room scam
Fraudsters who conducted one of the largest boiler room fraud schemes ever pursued by a UK authority have been ordered to pay their victims £11m ($15.8m, €13.9m) in compensation, the UK’s Serious Fraud Office (SFO) has revealed.
Tax & Regulation | 19 Apr 16
UK’s new tax evasion law may catch foreign companies
The UK government’s planned new law making firms criminally liable for staff who facilitate tax evasion has expanded the circumstances in which an overseas company can be prosecuted for failing to prevent foreign tax evasion, according to legal experts.
Tax & Regulation | 19 Apr 16
FCA warns advisers against provider-paid for rugby matches
The Financial Conduct Authority (FCA) has warned financial advisers in the UK to stop attending hospitality events such as rugby matches, often put on by investment firms looking to sell them products, as it may create conflicts of interest.
Lessons from the UK’s RDR journey
With UK-style retail distribution review (RDR) regulation sweeping across international investment markets, and the trend towards better customer outcomes only set to intensify, advisers need to fully embrace this change and embrace it early, says Bill Vasilieff, chief executive of Novia Global.
Tax & Regulation | 18 Apr 16
UK tax office details new “evasion facilitation” offence
The British government has published details of its proposed new law making senior management of a financial services firm criminally liable if any member of staff facilitates tax evasion, and has called on the industry to provide feedback.