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The UK government has softened its proposed authority to compel defined‑contribution pension schemes to invest in private markets. An amendment to the Pension Schemes Bill now limits any mandatory allocation to the targets set in the voluntary Mansion House Accord – at least 10% of DC assets in private markets by 2030, with 5% in the UK. The House of Lords voted overwhelmingly to strip the original reserve power, and the government says it will block further peers’ amendments. Pensions UK welcomed the change but called for an earlier sunset clause.
Evelyn Partners hired Emma Arnold as its North West business development manager, strengthening its adviser outreach in Liverpool. Investment Trends announced a leadership change, with Harry Mitchell replacing departing CEO Eric Blewitt after a three‑year tenure. Jersey‑based Oakglen Wealth Planning...
Guernsey's financial regulator fined Utmost Worldwide's island branch £1.96 million (about $2.5 million), the largest penalty it has ever issued. The fine stems from a decade‑long underestimation of financial‑crime risk in its life‑assurance business, especially the use of unregulated brokers in South...
The Dubai Financial Services Authority (DFSA) unveiled a temporary regulatory relief package for firms operating in the Dubai International Financial Centre (DIFC). The measures grant flexibility in licensing, governance, reporting and implementation timelines to help both new applicants and existing...
Blevans Franks warns that EU border controls and new data‑sharing regimes are tightening scrutiny of expatriates and holiday‑home owners. The EU Entry/Exit System now records biometric data and flags 90‑day overstays, exposing individuals to tax probes. Simultaneously, the Common Reporting...
HMRC launched the Strengthened Reward Scheme on 6 April, offering informants a share of recovered taxes. Whistleblowers who provide evidence leading to at least £1.5 million (about $1.9 million) in unpaid tax can earn 15‑30% of the amount collected, excluding penalties. The program...
Team PLC announced the acquisition of WH Ireland, adding a FCA‑regulated adviser to its portfolio and strengthening its UK presence. The deal is designed to help UK advisory firms serve clients who are relocating overseas or returning to the UK,...
David Knights, head of Investors Trust’s Asian distribution, relocated to Kuala Lumpur three years ago, building a cohesive, multilingual team that enhances client service across the region. He notes that Asian high‑net‑worth clients are increasingly focused on longevity, sustainable retirement,...
The Guernsey Financial Services Commission (GFSC) has issued a warning after discovering counterfeit documents bearing its name being used in an advance‑fee fraud scheme. The scheme employs a fictitious law firm, Flaven Law Chambers, and a bogus bank, ApexKrest Bank,...
Opera Group completed the acquisition of Accuro and Meritus Trust Company, marking the fourth and fifth deals in its five‑year Project Overture transformation. The purchases expand Opera’s footprint to eight jurisdictions, bringing total assets under administration to over $81 bn and...
