News

Financial services businesses can benefit from getting complaints as they provide valuable feedback on how the firm is doing, acting chief executive of the Financial Ombudsman Service (FOS) Tony Boorman has said.

Thousands of ‘accidental Americans' could be unwittingly caught by the Foreign Accounting and Tax Compliance Act (FATCA) from July, leaving them exposed to US tax liabilities, Vestra Wealth has warned.

The UK's headline inflation rate dropped to 1.7% in February, its lowest level since late 2009.

The Office for Budget Responsibility (OBR) has revised its calculation of how much inheritance tax will be paid between now and 2018 by £800m, just three months after it last issued the figures.

Russia has said it expects outflows in the first quarter of this year to total $70bn as sanctions hit the country's economy harder than expected.

The National Audit Office (NAO) has called on the financial regulators to show they are providing value for money after finding they do not have processes in place to judge the best use of their cash.

National advice firm the Lighthouse group has reported a pre-tax loss of £1.6m for 2013 in a marked improvement on the previous year despite falling adviser numbers and a £310,000 provision for consumer redress.

A mortgage broker has been jailed for six years after fraudulently obtaining almost £3.5m from clients in the North East.

Fidelity Personal Investing has called for a ban on exit fees from all long term savings products in order to improve competition in the direct-to-consumer marketplace.

The chief executive of Hargreaves Lansdown has said the group is considering cutting charges later this year following a surge of activity across the platform sector.