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Mifid II delay confirmed in European Parliament

The European Parliament has formalised the delay of Mifid II this week, after hearing the infrastructure required for the legislation would not be in place by the current deadline. The move pushes the implementation date back from January 2017 to January 2018. In February the European Commission confirmed it planned to delay the deadline by […]

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The trojan horse paving the way for radical pension tax reform

Is the Lifetime Isa a blueprint for a wider overhaul of the pensions system that would see tax relief abolished altogether? That is, literally, the multi-billion-pound question, and advisers, providers, employers and other stakeholders will be attempting to work out the answer in the months between now and the EU referendum at the earliest. The […]

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Boiler room fraudsters ordered to pay £11m redress

Two convicted fraudsters have been ordered to pay £11m in one of the largest boiler room cases to be prosecuted by the UK authorities. Australian national Jeffrey Revell-Reade was ordered to pay a £10,751,000 confiscation order and Londoner Anthony May was ordered to pay £250,000. The duo is well known for their lavish lifestyle having […]

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BlackRock profits fall 20% as market turmoil hits fees

BlackRock’s profits fell 20 per cent in the first quarter of the year amid market swings, after job cuts at the firm were revealed. In its first quarter results, published today, net income at the giant money manager decreased to $657m (£464m) from $822m for the same quarter a year ago. BlackRock chief executive Laurence Fink says: […]

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