HM Revenue & Customs (HMRC) is to receive more than a billion in additional funding to digitalise the UK’s tax system and introduce personalised digital accounts, removing the need for annual tax returns, chancellor George Osborne announced Wednesday.
The FCA has published terms of reference for its asset management market study, focusing on industry competition, remuneration and the role of investment consultants.
Green technology may drive policy after the upcoming climate conference, which could create investment opportunities, according to manager of Jupiter Green Charles Thomas.
A sharper focus on offshore banking activity and tax avoidance has seen HM Revenue & Customs grow its Affluent Unit by more than 50% in the past two years.
Former head of the Investment Association Daniel Godfrey has called for greater simplicity and transparency from investment managers, in an interview with the Financial Times.
FCA chairman John Griffith-Jones has spoken out on the “realistic, if not ideal” delay to MiFID II, while acknowledging the need for a “less is more” approach to the regulation of wealth managers
The Investment Association said it welcomes the publication of draft EU rules on how key information about investment products should be presented to consumers.
An industry frustrated by the lack of clarity over MIFID II’s detailed requirements would welcome a year-long deferral.
The Financial Conduct Authority is hoping its ‘regulatory sandbox’ – a proposed test environment for innovative new products and services – will help retain its position as Europe’s leading fintech centre.
The European Commission has said it is considering a delay of up to a year to the initiation of the second iteration of the Markets in Financial Instruments Directive.
Andrew Formica, chief executive of Henderson, says that the upcoming FCA competitive review of the asset management industry is his greatest regulatory concern.
Garry Heath, the head of IFA industry body Libertatem, has called for the formation of a new regulator to be considered as part of the government’s Financial Advice Market Review (FAMR).
