Scam warning over regulated advisers in pension lib schemes
Pension liberation scams are increasingly being endorsed by FCA-regulated financial advisers, advocacy group Pension Life has warned.
Regulation
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Advisers face hefty fines in HMRC tax avoidance crackdown
Tax advisers and accountants in the UK who help clients avoid paying tax could face fines of 100% of the tax avoided, according to new proposals being considered by HM Revenue and Customs (HMRC).
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FCA to investigate absolute return funds
The Financial Conduct Authority (FCA) plans to investigate absolute return funds as part of its review into the asset management market, amid poor performance despite the flood of money being pumped into the strategy.
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UK advisers warned of ‘inappropriate influence’ of introducers
The Financial Conduct Authority (FCA) has voiced concerns about the “inappropriate influence” that unauthorised introducers have on investment choices made by UK advisers, revealing that it has seen a growing number of cases where client pensions are being transferred into unregulated high risk products.
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Ex-boss of failed UK platform Avalon charged with fraud
The former boss of collapsed UK platform Avalon Investment Services is to appear in court next week in connection with alleged fraud offences, British authorities have confirmed.
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Brexit vote reignites debate over cuts to pensions tax relief
The UK’s decision to quit the European Union could lead to a raid on pensions tax relief, experts in the industry have warned.
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Regulatory ‘enforcement body’ recommended by Treasury Committee
The Treasury Committee is recommending that part of the Financial Conduct Authority be spun out to form a new financial regulation enforcement body.
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Three UK advisers arrested in £132m tax-dodging fraud
Three UK tax advisers have been arrested as part of a HM Revenue & Customs (HMRC) investigation into a suspected £132m ($173m, €157m) fraud involving offshore trusts.
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New FCA chief unconvinced FAMR recommendations will work
UK Financial Conduct Authority chief executive Andrew Bailey has admitted to the government’s Treasury Select Committee that proposals made by the Financial Advice Market Review may not solve the advice gap, which was in part created by the Retail Distribution Review.
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UK trade body creates ‘toolkit’ on how to comply with Mifid II
The UK’s Chartered Institute for Securities & Investments (Cisi) has published a guide to help firms meet the new European Securities and Markets Authority (Esma) regulations.
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Esma gives AIF passport opinion for 12 non-EU jurisdictions
The European Securities and Markets Authority has published its advice on 12 jurisdictions seeking passporting rights for alternative investment funds (AIFs) giving seven a clear go-ahead with five others getting a qualified approval.
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FCA ‘hampered’ HSBC money laundering prosecution, says report
UK chancellor George Osborne and the Financial Conduct Authority (FCA) intervened in a US investigation that could have seen Europe’s largest lender, HSBC, prosecuted for money laundering, a new report claims.
