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Beiträge, die mit financialservices getaggt sind

Another reversal in how the Govt. treats/regulates financial services.

Last year the HMRC changed its guidelines on the taxation of limited liability partnerships - the favoured organisational structure of Private Equity - to increase the likely tax yield, leading to the opening of investigations into back tax owed.

Now, this change is being reversed after PE & Treasury lobbying/engagement to remove the 'threat'.

Once again, its pretty clear whose side Labour is on.

#FinancialServices
h/t FT
#financialservices

After the sudden departure of its CEO, now Zahida Manzoor (chair of the Financial Ombudsman Service) will stand down (not seeking a third term) in August.

Following Abby Thomas' departure, this looks like the Govt. trying to shift the FOS from so active against the financial serves sector, when the latter has been caught (all too often) in malpractice.

Oddly, it looked like Manzoor bought into that agenda - perhaps Reeves' just wants a whole new team to reassure Bankers?

#FinancialServices
#financialservices

A brief analysis how little old UK is going to have its policies disctated to by #Trump

Including #Steel, #FinancialServices (come to me fresh banking crisis), #Brexit 'reset' (don't touch those dirty Europeans or else), #OnlineAbuse (nothing wrong with that), #Climate (what is there to worry, drill baby drill).

It is all looking good for the group of islands just off #Europe.

http://archive.today/2025.02.11-001211/https://www.thetimes.com/uk/politics/article/donald-trump-uk-agenda-trade-tariffs-tanks-explained-r6pgs9whd (archived)
Photo: An inshore windfarm
#europe #trump #climate #brexit #steel #financialservices #onlineabuse

When the Financial Conduct Authority's proposals to 'simplify' mandatory disclosures for investment products (moving away from EU rules) are welcomed by the Financial Services sector, you might well smell a rat....

These disclosures while complex were intended to ensure investors had as much information as possible before investing.... of course, financial services firms would like a simpler disclosure regime; their endemic corruption is always hidden in the detail!

#FinancialServices
h/t FT
#financialservices

Once again financial services find they can avoid taxation.... this time highly paid professionals (at partner level) as self-employed, will not find them (or their 'employers') subject to the rise in employers' National Insurance.

Hmmm.... I wonder whether Reeves noticed that he erstwhile chums in the city would miss out on the tax rise.

As so often, somehow financial services seem to get preferential treatment, its odd that, isn't it?

#tax #financialservices

https://www.theguardian.com/law/2024/nov/26/well-paid-partners-in-city-firms-escape-paying-national-insurance-rises
#tax #financialservices

Too many people have been successfully gaining compensation from financial services institutions that have made errors in one way or another with clients' money.

So what does Rachel Reeves do?

Might she conclude there needs to be some reform to how financial institutions conduct themselves & regulation could aid a culture change?

But no; she going to make getting compensation for client mistreatment harder & more expensive

Not too difficult to see whose side Reeves is on!

#financialservices
#financialservices

As financial services face a potentially massive bill for compensating consumers who were ripped off by the commission model operating in car finance over the last decades, suddenly Rachel Reeves has decided its time to review and 'stabilise' & 'modernise' the Financial Ombudsman Service..

Why?

I'm sure it has nothing to do with the consumer favouring decisions its made over car finance, which apparently took the Financial Conduct Authority by surprise.

#FinancialServices #fraud
h/t FT
#fraud #financialservices

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