Russian dirty money entering UK through BOTs, report says
Money laundering is a matter of national security for the UK, and it therefore has the constitutional right to make British Overseas Territories (BOTs) introduce public registers of beneficial ownership, according to a select committee report.
News 21 May 18
Old Mutual sees 25% growth in DB pension transfers by 2028
Old Mutual Wealth is predicting defined benefit pension transfers will accelerate, with an estimated 25 to 30% of those eligible switching out of their schemes in the next 10 years.
We need mutual recognition over equivalence post Brexit: Pimfa
The UK investment management industry needs to access the European Union via mutual recognition, not equivalence, after Brexit, argues Personal Investment Management and Financial Advice Association policy adviser Alex Merriman.
Helena Morrissey jumps on gender equality fund trend
Legal & General Investment Management has become the latest fund manager to launch a passive fund tracking companies with diverse boards.
News 17 May 18
Isle of Man ‘constraints’ key to Hansard Bahamas move
Hansard’s strategic move to set up a licenced company in the Bahamas was partly driven by the Isle of Man’s sweeping Conduct of Business Code rules which go live in January 2019, the London Stock Exchange-listed company chief executive Gordon Marr has revealed.
M&G to shift £34bn to Europe on Brexit uncertainty
Fund manager M&G Investments is planning to transfer £34.2bn (€38.9bn, $46.2bn) of non-sterling assets to Luxembourg ahead of the UK’s exit from the European Union.
Investment industry in limbo as HMRC appeals Hargreaves tax win
The UK tax office’s decision to appeal a £15m tax ruling in favour of financial services firm Hargreaves Lansdown has left the investment industry in limbo over discounts provided to investors in funds.
News 14 May 18
Ex-SJP trainee adviser banned for faking qualifications
The FCA has slapped a fine and prohibition order on a former St James’s Place trainee financial adviser who repeatedly lied and faked a document in a bid to advise retail investors without gaining the necessary qualifications.