Category: financial advice

‘Enablers’ in spotlight as economic crime bill takes next step – Law Society’s Gazette

Posted October 25th, 2022 in bills, disciplinary procedures, financial advice, legal profession, news, reports, tax avoidance by sally

‘The role of “professional enablers” in white-collar crime is set to come under new scrutiny this week as the government’s Economic Crime and Transparency Bill enters its next parliamentary stage. Ministers are expected to come under pressure to accept amendments that would lower the threshold for the prosecution of individuals for corporate crimes and to create new “failure to prevent” offences.’

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Law Society's Gazette, 24th October 2022

Source: www.lawgazette.co.uk

Extensions to the Anti-Money Laundering Compliance Regime – Family Law Week

Posted November 26th, 2020 in disclosure, families, financial advice, legal profession, legal services, money laundering, news, regulations, statutory duty, taxation by tracey

‘Matthew Moore, director of Infolegal, advises family lawyers of their obligations under anti-money laundering regulations following changes [to the] wording of what constitutes taxation advice.’

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Family Law Week, 24th November 2020

Source: www.familylawweek.co.uk

Alan Shearer gets payout over ‘bad advice’ pension – BBC News

Posted December 17th, 2019 in financial advice, negligence, news, pensions by tracey

‘Ex-England footballer and BBC pundit Alan Shearer has won £100,000 in a court fight with a financial advisor.’

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BBC News, 13th December 2019

Source: www.bbc.co.uk

Consumers being badly advised on pensions, says regulator – The Guardian

Posted June 19th, 2019 in consumer protection, financial advice, financial regulation, news, pensions by tracey

‘The City watchdog has raised fresh concerns that thousands of consumers are being wrongly advised to cash in their defined benefit pension, putting them at greater risk of financial insecurity in old age.’

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The Guardian, 19th June 2019

Source: www.theguardian.com

Ex-financial adviser jailed for £740k fraud – BBC News

Posted June 6th, 2019 in company directors, contempt of court, financial advice, fraud, news, sentencing by tracey

‘A former financial adviser who conned his clients out of nearly £750,000 has been jailed for more than 10 years.’

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BBC News, 5th June 2019

Source: www.bbc.co.uk

Barristers can act as deputies, Court of Protection rules – Legal Futures

Posted April 26th, 2019 in barristers, budgets, Court of Protection, disabled persons, financial advice, insurance, news by sally

‘Barristers can act as professional property and affairs deputies for people who lack mental capacity, although it is not seen as a legal service, the Court of Protection has ruled.’

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Legal Futures, 26th April 2019

Source: www.legalfutures.co.uk

New Acts – legislation.gov.uk

Posted May 14th, 2018 in aircraft, financial advice, financial regulation, legislation, road traffic, weapons by tracey

Financial Guidance and Claims Act 2018

Laser Misuse (Vehicles) Act 2018

Source: www.legislation.gov.uk

FCA crackdown on dodgy pensions advice after thousands of people hit by scandal – The Independent

Posted March 27th, 2018 in financial advice, financial regulation, news, pensions by tracey

‘The City watchdog has announced measures to deal with an “erupting pensions mis-selling scandal”, but MPs say the plans do not go far enough to protect people’s savings.’

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The Independent, 26th March 2018

Source: www.independent.co.uk

MPs call for urgent ban on pensions cold calling – OUT-LAW.com

Posted December 13th, 2017 in bills, financial advice, news, select committees, telecommunications by sally

‘The House of Commons Work & Pensions committee has urged the government to accelerate plans to ban pensions cold calling and provide better guidance to pensioners on their options.’

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OUT-LAW.com, 12th December 2017

Source: www.out-law.com

When tax advice strays from planning to avoidance and evasion – Hardwicke Chambers

Posted November 23rd, 2017 in financial advice, news, tax avoidance, tax evasion by sally

‘With the tax affairs of so many VIPs once more in the headlines, Andrew Reid and James Hall consider what claims can be brought against the original advisers and what might be done to avoid that happening.’

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Hardwicke Chambers, 10th November 2017

Source: www.hardwicke.co.uk

Tax scheme negligence claims fail as time limits began to run before a tribunal decision on a similar scheme, says Court – OUT-LAW.com

Posted November 13th, 2017 in charities, financial advice, HM Revenue & Customs, negligence, news, taxation, time limits by tracey

‘Negligence claims against tax advisers who had given assurances about the effectiveness of tax schemes failed because the claims were not brought within the limitation period.’

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OUT-LAW.com, 10th November 2017

Source: www.out-law.com

A technology top ten for 2017 – Technology Law Update

Posted January 9th, 2017 in computer crime, data protection, electronic commerce, employment, financial advice, insurance, internet, medical records, news, road traffic by sally

‘What should we expect in the technology space in 2017?

We take a look at current trends and focus on some of the legal opportunities and pitfalls that they present.’

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Technology Law Update, 6th January 2017

Source: www.technology-law-blog.co.uk

Decades-old legal test not suitable for assessing if investment advice met professional standards, says High Court – OUT-LAW.com

Posted September 21st, 2016 in banking, duty of care, financial advice, financial regulation, insurance, negligence, news by tracey

‘A long-standing legal test, that helps to determine whether professionals meet their duty of care to clients is not appropriate for determining whether UK investment advisers have sufficiently communicated with investors to be said to have provided suitable advice, the UK High Court has said.’

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OUT-LAW.com, 20th September 2016

Source: www.out-law.com

Complaint trends for 2015 – RPC Financial Services Blog

Posted January 8th, 2015 in complaints, financial advice, financial regulation, news, pensions by sally

‘The FOS yesterday published its 2015/16 budget consultation.　 In short, we can expect more of the same.’

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RPC Financial Services Blog, 7th January 2015

Source: www.rpc.co.uk

RBS failed in mortgage business basics and is lucky the fine was just £14.5m – The Guardian

Posted August 29th, 2014 in banking, financial advice, financial regulation, fines, mortgages, news by tracey

‘Bank hit with its sixth penalty in four years, showing it is still far from being in proper shape to return to the private sector.’

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The Guardian, 27th August 2014

Source: www.guardian.co.uk

HMRC closing the gap on tax avoidance – RPC Commercial Disputes Blog

Posted August 8th, 2014 in complaints, financial advice, HM Revenue & Customs, news, tax avoidance by sally

‘Anyone who has invested in, promoted, or advised on any form of tax mitigation scheme may be feeling slightly nervous following the latest announcement from HMRC concerning the on-going saga of tax avoidance. And understandably so.’

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RPC Commercial Disputes Blog, 7th August 2014

Source: www.rpc.co.uk

Fiduciary Duties of Investment Intermediaries – Law Commission

Posted July 4th, 2014 in fiduciary duty, financial advice, news by tracey

‘Report responding to concerns raised in the 2012 Kay Review that uncertainty about their legal duties leads investors to focus on short-term movements in share price rather than making long-term investment decisions based on the fundamental value of a company.’

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Law Commission, 1st July 2014

Source: www.justice.gov.uk/lawcommission

Get informed – New Law Journal

Posted June 11th, 2014 in divorce, financial advice, mortgages, news by sally

‘Natasha Phillips underlines the importance of mortgage capacity assessments in divorce proceedings.’

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New Law Journal, 6th June 2014

Source: www.newlawjournal.co.uk

Clark and another v In Focus Asset Management & Tax Solutions Ltd (Financial Ombudsman Service intervening) – WLR Daily

Posted February 21st, 2014 in compensation, financial advice, financial services ombudsman, law reports, ombudsmen, res judicata by sally

Clark and another v In Focus Asset Management & Tax Solutions Ltd (Financial Ombudsman Service intervening) [2014] EWCA Civ 118; [2014] WLR (D) 76

‘The doctrine of res judicata precluded a complainant who had accepted an award made by the Financial Ombudsman Service from starting legal proceedings to pursue complaints which had already been submitted to the ombudsman service and which the ombudsman had decided. Further, section 228(5) of the Financial Services and Markets Act 2000 did not exclude the operation of res judicata.’

WLR Daily, 14th February 2014

Source: www.iclr.co.uk

Customers lose right to sue after taking ombudsman compensation – Daily Telefgraph

Posted February 17th, 2014 in compensation, financial advice, news, ombudsmen by sally

‘Financial services customers who have accepted compensation from the ombudsman can no longer sue for further redress in court following a landmark Court of Appeal ruling.’

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Daily Telegraph, 14th February 2014

Source: www.telegraph.co.uk