Revenue promises action against 'dubious' pension liberation schemes

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Revenue promises action against ‘dubious’ pension liberation schemes

Revenue promises action against ‘dubious’ pension liberation schemes
Up to 500 “dubious” pension providers seem set to be deregistered by HMRC as part of a crackdown on “pension liberation” schemes, which offer early access to retirement funds.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 3
Also appeared in : The Times, p.38

Leaving EU could rob 1.4m expats of pension rights
An MPs’ report has warned that up to 1.4million expats living in Europe could lose their pension rights if Britain leaves the EU, forcing “significant numbers” to return to the UK. The report suggests that British workers would lose their automatic right to be part of the EU’s co-ordinated benefits system, leaving them with “significantly reduced” entitlements to pensions.
The Daily Telegraph, p. 8

Pension fund ready to take over UK Coal in rescue deal
The Pension Protection Fund is poised to take over the pension fund operated by UK Coal Operations as part of a rescue to safeguard the jobs of 2,000 miners and the pensions of 6,800 retired workers. UK Coal creditors include EDF, Drax, SSE and Eon.
The Daily Telegraph Business, p. 4
Also appeared in : The Independent, p.47

Mortgage lending rises to highest level in four years
May saw more than 58,000 mortgage approvals, the highest monthly total for more than three and a half years and Nationwide reported the biggest monthly rise in house prices since September 2011. The month also saw consumer credit rise by £725m. Conversely, loans to businesses shrank in May by £1.27bn.
The Daily Telegraph Business, p. 3
Also appeared in : The Independent, p.43, Independent i, p.40

Rothschild to advise on split of RBS
Rothschild will be named to run the assessment on the potential split of Royal Bank of Scotland into a good bank and bad bank.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1
Also appeared in : The Daily Telegraph Business, p.5, The Times, p.33, Financial Times Companies and Markets, p.20

Barclays ‘continues to sail close to the wind’, ex-policymaker of central bank warns
Threats by Barclays to cut lending to households and businesses because of a demand by the Bank of England that it should reduce risks have been criticised by a former central bank policymaker.
The Guardian, p. 20
Also appeared in : The Guardian, p.23

RBS and Barclays face yet another banking scandal
Barclays, Royal Bank of Scotland and HSBC were yesterday at the centre of yet another investigation by regulators, after European watchdogs said they were among 13 banks charged with shutting exchanges out of the lucrative credit derivatives market.
The Independent, p. 43
Also appeared in : The Guardian, p.22, The Independent, p.45, Financial Times Companies and Markets, p.30, Financial Times Companies and Markets, p.17, Independent i, p.40, International Herald Tribune, p.17, The Daily Telegraph Business, p.1

Payday lenders face advertising ban as critics call for action on interest charges
Martin Wheatley, chief executive of the FCA said that an advertising ban on payday lenders was one of the measures being considered when the FCA take over regulation of the industry in April 2014. The comment followed a government led summit at which Wonga was questioned over interest rates, charges and debt collection.
The Daily Telegraph Business, p. 1
Also appeared in : The Guardian, p.10, The Times, p.37, Financial Times, p.3

Watchdogs to study risks of rate rise on households
The Bank of England’s Financial Policy Committee has ordered regulators to report by September on the impact on the banking system and households of an increase in interest rates.
The Daily Telegraph Business, p. 4

Sun shines on Carney
Mark Carney’s first day as the Bank of England Governor was marked by stronger economic readings that will raise doubts over a new round of monetary easing.
The Times, p. 1
Also appeared in : The Independent, p.14-15, The Guardian G2, p.5, The Times, p.33

Tapes reveal AIB was seen as being as reckless as peer
Allied Irish Banks was viewed as being as reckless as Anglo Irish Bank in the lead-up to Ireland’s financial crisis, according to a broadcast yesterday.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 19

Clock ticking for banks to get to grips with anti-money-laundering rules
Yesterday, Tracey McDermott, head of enforcement at the FCA said that half of the banks reviewed by the regulator still did not have adequate protection from being used to launder money.
The Daily Telegraph Business, p. 2
Also appeared in : Independent i, p.42

Citi to pay Fannie $1bn to settle mortgage claims
Citigroup will pay nearly $1bn to settle claims for bad mortgages sold to Fannie Mae.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

The above articles appeared on 02/07/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.