Self-administered pension schemes and money laundering – Richard Mattison, director of professional trustee and administrator Whitehall Group and former director at James Hay, has written to HM Revenue and Customs warning that self-administered pension schemes lacking professional administrators are open to abuse by tax cheats and frauds. Mr Mattison wrote to HMRC after initially taking […]

The Financial Services Authority (FSA) has been carrying out an investigation into Johnny Cameron, former Executive Director of The Royal Bank of Scotland Group plc (RBS) and former Chairman of Global Markets. Following this investigation Cameron has agreed to settle with the FSA on the basis that he has undertaken to the FSA that he […]

“I am in trouble, please, send me money,” hackers swindle people trouble – “I have been robbed at the airport in London, please, send me 1,450 pounds to get back home!,” reads an e-mail which was sent to over 400 friends of the chair of the Center of NGOs in the town of Razgrad Georgi […]

FSA: 30-month rule applies to RDR requirements – The Financial Services Authority (FSA) has confirmed that the 30-month rule applies to most Retail Distribution Review (RDR) activities. In its latest RDR newsletter, the regulator said a number of firms had sought a clarification on the rule. It said: “The 30-month rule applies to most but […]

Fresh warning over adviser reliance on risk tools – Research company report on Skandia range cautions against sole use of provider tools one year after FSA paper highlights issue. Research agency Rayner Spencer Mills this morning (16 April) issued a report that warns advisers against an over reliance on risk profiling tools in order to […]

Professionalism and Ethics in Financial Planning – A recent study of financial advisers in Australia found that the giving of inappropriate advice without a reasonable basis was one of the top ten forms of unethical conduct in Australia. (See Smith J, 2010 Professionalism and Ethics in Financial Planning, PhD dissertation, Victoria University.) read more http://vuir.vu.edu.au/15535/1/june_smith.pdf

Jerset Retirement annuity trust scheme [RATS] – Introduction – These notes are intended to provide some background information in respect of retirement annuity trusts. They should not, however, be taken as a definitive statement of the law on any particular aspect, or in any particular case. The legislation at Article 131CA of the Income Tax […]