International IFA firm Strabens Hall says it no longer faces “inevitable insolvency” due to £1m in claims over ill-fated investments in the collapsed Connaught Income funds after reaching an agreement with its professional indemnity insurer.
A group of financial advisers and accountants have been found guilty of operating a fraudulent tax avoidance scheme to scam the HM Revenue and Customs (HMRC) out of £100m (£145m, €128m), the UK tax office has revealed.
The Financial Conduct Authority (FCA) has refused to authorise a business set up by two directors at international IFA firm Strabens Hall, saying the attempt had the “hallmarks of phoenixing”.
Former Investment Association chief Daniel Godfrey has been hired by the Financial Conduct Authority on a consultancy basis, a spokesperson said.
The UK’s Financial Conduct Authority looks set to cap exit charges for existing contract-based personal pensions, including workplace personal pensions, at 1% of the value of a member’s pot.
The Financial Conduct Authority (FCA) has banned and publicly censured the former compliance officer of disgraced investment firm Keydata.
The Bank of England’s chief economist Andy Haldane has said that financial advisers have “no clue” about pensions, while admitting that he himself cannot make the “remotest sense” of them.
A group of British politicians has warned that the pension freedoms, which came into effect in April last year, are a “potential trigger for future mass mis-selling”.
Singapore’s monetary authority and the UK’s Financial Conduct Authority have agreed to cooperate to promote cross-border financial technology development.
Right now, the only thing facilitating trust between the financial services industry and society is regulation says Guy Sears.
International efforts to end the secrecy of offshore tax havens – seen by governments as the solution to tackling tax evasion – may lead to some undesired side-effects, according to experts in the industry.
Incoming Financial Conduct Authority chief executive Andrew Bailey appears to have put financial services firms on notice that they can expect significant change under his regime.
