Fine
In the mix: heavier fines, judgement error, blacklist tweaks
A certain irony pervaded recent regulatory news. Just as HM Revenue & Customs fired a warning shot that threatened heavier fines for tax evaders with overseas assets, the next chair of the UK’s Financial Conduct Authority admitted an error in judgement in using a tax-avoidance film scheme promoted by Ingenious.
Insurance broker Bluefin fined £4m
The Financial Conduct Authority has fined Bluefin Insurance Services for failing to inform customers about its independence in a way that was clear, fair and not misleading while it was owned by Axa UK.
Tax & Regulation | 29 Sep 17
Small advisers at risk of skyrocketing data fines
Poorly resourced firms are at the greatest risk of being hit with big fines for infringing Brussel’s new data rules, according to Mazar’s chief investment officer David Baker.
Best Practice | 21 Sep 17
Steps advisers can take to avoid €20m data breach fine
Financial advisers will have to do a “significant amount of legwork” if they are to comply with new data rules, or face a big fine, according to an expert.
Tax & Regulation | 9 Aug 17
Ban and fine against former UK adviser network CEO upheld
An appeal by the former chief executive of an adviser network to overturn a ban on having any ‘significant influence’ on any regulated activity has been struck down and a fine upheld by the UK’s Upper Tribunal Tax and Chancery Chamber.