The Financial Services and Markets Act 2000 provided for the FSA to establish an ombudsman scheme under which disputes relating to financial services would “be resolved quickly and with minimum of formality by an independent person”. The Financial Ombudsman Service was established to operate that scheme.
Graeme Robb, Senior Technical Manager at Prudential, explores the current state of the nation for offshore issues and highlights areas which may be particularly relevant to advisers. In the context of insurance companies, ‘offshore’ can be a relatively straightforward matter. Like their onshore equivalent, offshore bonds are ‘non-qualifying’ for tax purposes, meaning that all gains […]
The Upper Tribunal has found that Andrew Tinney, the former chief operating officer of Barclays Wealth, breached his obligation as an approved person to act with integrity. The update published on the FCA’s website today explains the reasons for the publication of the ruling. In March 2012, Tinney received a document which contained critical findings […]
‘Scheme pays’ can take the sting out of annual allowance tax charges, but scheme members must move quickly to take advantage With more than five months to go, the self-assessment deadline feels like a lifetime away. But for clients facing an annual allowance tax charge for the 2018/19 tax year on their pension savings, the […]
The Financial Conduct Authority has announced six Q&A roundtable sessions to be hosted across the UK. The regulatory body will be going to Glasgow, Newcastle, Birmingham, London, Manchester and Newport. Each event, titled “ask the regulator”, will be 90 minutes long and will feature FCA and industry representatives. According to the FCA, the sessions are […]