News
More transparency ahead for high net worth clients
The Common Reporting System — a partnership among around 100 regulators worldwide – will make it more difficult for Asian high net worth individuals to keep undisclosed money offshore, said Richard Corrigan, interim director of financial services for the Jersey Government.
Retirement | news 20 Oct 16
UK should stop pension tinkering and simplify Isas: AJ Bell
Waves of changing legislation have made pensions and Isas incredibly and unnecessarily complicated, discouraging people from saving, says Andy Bell, chief executive of investment platform AJ Bell.
Investment | news 20 Oct 16
Merrill Lynch ditches US expats in account closures
Merrill Lynch, one of the ‘big four’ investment banks in the US, will no longer work with US citizens living abroad following the closure of all expat accounts earlier this month, a UK-based IFA firm has confirmed.
North America | news 20 Oct 16
SEC fines Israeli bank for offering advice without a licence
Israel-based Bank Leumi will pay $1.6m (£1.3m, €1.45m) and admit wrongdoing to settle charges from the US Securities and Exchange Commission that it provided investment advice to US customers for over 10 years without registering as an investment adviser or broker-dealer.
Best Practice | news 20 Oct 16
HMRC narrows UK tax gap to record low
The gap between between the amount of tax HM Revenue & Customs expected to collect in the last financial year and what it actually raised has fallen to its lowest ever level, and is now one of the smallest in the world.