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Heiress convicted of HSBC tax fraud

The heir to the Nina Ricci perfume and fashion fortune has been convicted of tax fraud by hiding millions in an offshore HSBC account. The BBC reports a Parisian court has sentenced Arlette Ricci to a year in prison, plus given an additional two-year suspended sentence. Ricci was also ordered to pay a fine of […]

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5

Apfa: Adviser profits up 5% as market stabilises

Advice firms saw an increase in pre-tax profits of 5 per cent last year as the market began to stabilise, according to Apfa’s latest state of the market report. The annual report shows that pre-tax profit for all firms with an FCA primary category ‘financial adviser’ was £931m last year, up from £884m in 2013. […]

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7

HSBC to consider ditching UK headquarters

HSBC chairman Douglas Flint has promised shareholders the bank will re-evaluate the location of its headquarters. Speaking at a shareholder meeting in Hong Kong ahead of the bank’s London annual general meeting on 5 May, Flint was asked by investors about the location of the bank. According to reports, Flint said: “We are beginning to […]

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