HMRC sets out ‘opaque’ abusive tax scheme penalties
Advisers who enable abusive tax avoidance schemes face penalties that will take into account “relevant considerations”, draft guidance from HM Revenue & Customs revealed on Friday.
Ex-SJP adviser jailed for gambling away £850k of client money
An appointed representative of St James’s Place has been jailed for 40 months after being found guilty of stealing and losing £844,010 from eight clients over a period of three years.
FCA bans adviser spouses for ‘calculated’ deception
The Financial Conduct Authority (FCA) has barred Mr John Chiesa and Mrs Colette Chiesa, founders of an authorised IFA firm, from ever working in financial services for the “calculated way” they deceived creditors.
FCA work to continue until firms use ‘common sense’
Work to clear up the boundary between advice and guidance will continue until firms learn to use “common sense” to benefit consumers, FCA chief executive Andrew Bailey has pledged.
Stephen Lansdown: Financial services has ‘lost its mojo’
The UK’s financial services sector has “lost its mojo” because it has forgotten about servicing clients amid the maelstrom of regulation, according to Stephen Lansdown.
Fraudsters target Invesco clients in ‘sophisticated’ scams
Invesco Perpetual has issued a stark warning online after discovering its clients are being targeted by ‘sophisticated’ fraudsters in telephone calls and emails.