United Kingdom
OMGI launches UK long/short Ucits fund
Old Mutual Global Investors (OMGI) is to launch the Old Mutual UK Specialist Equity Fund on 28 April 2016. Subject to regulatory approval, the Ireland-domiciled fund will be registered for sale in a range of European countries and Singapore.
Celebs face £635m tax bill as Supreme Court rejects appeal
Celebrity investors in a film scheme involving the distribution rights to two Disney films face a combined tax bill worth over £600m ($845m, €754m) after the Supreme Court rejected its final appeal against HM Revenue & Customs (HMRC) over £117m the scheme received in tax relief.
Tax & Regulation | 14 Apr 16
Fund fees fall by a fifth after RDR
Investors are now paying over a fifth less in annual fund fees as a result of the introduction of the Retail Distribution Review (RDR), according to analysis by online investment platform rplan
Tax & Regulation | 13 Apr 16
Bespoke Sipp providers may ‘flounder’ in FCA cap ad changes
A number of British firms offering bespoke self-invested personal pensions (Sipps) could go out of business when the Financial Conduct Authority’s (FCA) new capital adequacy requirements come into force in September, according to James Hay, one of the UK’s largest Sipps providers.
Tax & Regulation | 13 Apr 16
Jersey defends secrecy of beneficial ownership register
Jersey Finance, which represents the finance industry, has come out fighting against calls for the island’s register of who owns which companies to be made public in the wake of the Panama Papers leak.