Regulation & Tax

Vienna-based paybox Bank is migrating its operations to the Avaloq Core Platform in an effort to drive the expansion of its business and create a comprehensive suite of banking services.

Wealth management lobby group PIMFA has called on the Financial Conduct Authority (FCA) and the government to take a “surgical approach” to any proposed changes to the senior managers and certification regime (SM&CR).

Hawksmoor Investment Management has signed up for BITA Risk’s enhanced portfolio monitoring service.

Whilst many cryptoasset investors describe themselves and their peers as having “diamond hands”, it may be of note to these individuals that some of those diamonds will be of interest to the UK taxman.

The FCA has commented on Quilter’s Lighthouse Advisory Services redress and the Woodford Equity Income Fund (WEIF) redress offer.

Wealth management lobby group PIMFA has welcomed the forecast reduction in the Financial Service Compensation Scheme (FSCS) levy but believes a long term solution to the compensation framework is needed.

Bold Insight, a user experience (UX) and human factors research agency, has introduced its Check UX: Consumer Duty service to assist fintech companies and financial services in meeting the upcoming Consumer Duty rules set by the Financial Conduct Authority (FCA).

Wealth management lobby group PIMFA has raised concerns about the Financial Conduct Authority’s (FCA) proposals to harmonise rules governing the way fund managers and discretionary investment managers operate. 

The Financial Services Compensation Scheme (FSCS) has almost halved its levy forecast for 2023/24.

Inheritance tax (IHT) receipts hit £600 million in April 2023, according to the latest data released by HMRC.