News

Millions of pounds taken from nine defrauded pension schemes were transferred to two shell companies before being disseminated to a multitude of "risky" investments, a court heard yesterday.

The deVere Group has announced it is opening new UK offices and recruiting 50 financial advisers as it looks to establish a national footprint.

An FSCS Action Group petition, which is campaigning online for a fairer Financial Services Compensation Scheme, has already seen more than 1,000 signatures following its launch this morning.

The fear of another financial crisis will drive regulatory thinking for the next two decades as the philosophy of light-touch regulation disappears, according to Royal London Asset Management (RLAM).

Industry commentators forecast an even gloomier second quarter after the Office for National Statistics revealed the UK slid back into recession in Q1, with negative growth of 0.2%.

A Supreme Court ruling has indicated bosses retain some power to force retirement at age 65 despite legislation being introduced banning the practice.

The Financial Services Authority (FSA) has hinted it may impose stricter regulatory requirements on firms recommending traded life policy investments (TLPIs) after issuing final guidance stating they should not be promoted to most retail investors.

The Investment Management Association (IMA) has responded favourably to the bulk ISA transfer draft regulations released by HM Revenue & Customs (HMRC).

The UK economy contracted by 0.2% in the first quarter of the year, meaning it has slipped back into technical recession, preliminary estimates from the Office for National Statistics (ONS) show.

Guernsey's zero-10 regime has been deemed "harmful" by the EU's Code of Conduct Group on Business Taxation.