Advisers welcome Kiwi QROPS code of conduct

New Zealand providers and advisers, led by best practice and compliance consultancy Strategi, are working together to create a voluntary code they claim will eradicate poor value and illegal products. QROPS have been in the regulatory firing line for the past few years, with the closure of large schemes such as the Beazley scheme in 2010. In March this year HMRC set up a specialist team to crack down on QROPS abuses, and in April the Treasury closed a legal loophole that allowed tax evasion via Hong Kong QROPS. David Howell, group chief executive at Guardian Wealth Management comme...