News
Advance payments a ‘worrying erosion’ of taxpayer rights
Plans to give the UK tax man powers to demand advance payment if the revenue has “reason to believe” an offshore scheme is avoiding tax should be scrapped, according to a top tax lawyer.
Columbia Threadneedle to move EU client assets ahead of Brexit
Columbia Threadneedle Investments will launch 13 Sicav versions of Oeics ahead of the UK’s exit from the European Union as the asset manager prepares to switch EU-based investors out of its UK-domiciled range into Luxembourg-domiciled alternatives.
Insurer AMP faces two class action lawsuits
After a bruising appearance at Australia’s Royal Commission, AMP has been served with two class action proceedings, while the firm’s interim chief executive offers a mea culpa and shareholders reject pay proposals.
Former boss of Chinese insurer Anbang jailed for 18 years
The ex-chief executive of China’s beleaguered Anbang Insurance Group has been sentenced to 18 years in jail for corruption and fraud and will have assets worth CNY10.5bn (£1.2bn, $1.6bn, €1.4bn) confiscated by the state.
Best Practice | news 10 May 18
Australia moves to stop erosion of superannuation funds
The Australian Government has unveiled plans to ban exit fees and cap administration and investment fees to protect super accounts with low balances from excessive erosion.