United Kingdom
Tax & Regulation | 20 Jan 16
New UK exit fee cap to apply equally to work-based plans
The UK pensions minister Ros Altmann says the new powers handed to the Financial Conduct Authority to cap exit fees on savers seeking access to their pension pots will apply equally to occupational and work-based personal schemes.
Shell warns of profit collapse as FTSE slides
Royal Dutch Shell has issued a warning its fourth quarter profits could be only half what was booked in the same period a year ago as it struggles with the oil price slump.
United Kingdom | 20 Jan 16
Channel Islands sees 8% rise in securities exchange listings
More than 400 securities were listed on the Channel Islands Securities Exchange (CISE) during 2015, an increase of 8% compared with 2014.
Tax & Regulation | 19 Jan 16
UK government moves to cap early exit pension charges
UK chancellor George Osborne has announced plans to introduce legislation to give the Financial Conduct Authority (FCA) the power to cap excessive early exit charges for those eligible to access their pension pots under the new pension freedoms.
Tax & Regulation | 19 Jan 16
Authorised UK firms hit with £363m FSCS levy
Firms authorised by the UK’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will have to collectively pay £363m ($518m, €475m) to fund the Financial Services Compensation Scheme (FSCS) in 2016/17, an increase of 13.1% from £319m in 2015/16.