HMRC tightens noose on advisers who enable tax avoidance
HMRC is to go ahead and issue hefty fines to financial advisers found guilty of helping their clients avoid tax, as it sets out clear guidelines on who exactly will be affected by the move.
Search Results for: Isle of Man financial services authority
New UAE mutual fund rules to come with a sanctions regime
New mutual fund registration rules introduced by the UAE’s Securities and Commodities Authority (SCA) in August, and currently within a six-month implementation grace period, are expected to come with a series of sanctions for breaches of the regime.
Singapore shuts down second Swiss bank, fines DBS and UBS
The Monetary Authority of Singapore (MAS) has ordered that Falcon Private Bank in Singapore be shut down for serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the Singapore branch, as well as the head office in Switzerland.
Industry divided on UK plans to relax pension transfer rules
The UK government’s plans to potentially scrap the current ‘advice safeguard’ on some overseas pension transfers has met with a mixed response from the financial services industry, with some experts welcoming the move while others believe it will put consumers at risk of being targeted by fraudsters.
IoM issues second consultation on insurance amendment bill
The Isle of Man regulator has launched a second consultation on changes to the Insurance Act in response to the feedback during the initial consultation carried out at the end of 2015.