Wealth managers

The Financial Conduct Authority (FCA) has warned of a scam firm using the details of investment manager BlackRock to defraud investors.

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The Financial Ombudsman Service (FOS) has ruled in favour of four complainants who separately claimed they were given unsuitable advice to transfer their personal pensions to new plans permitting investment in overseas property.

HSBC is the subject of a criminal investigation by French authorities over allegations of tax evasion at its Swiss private bank.

The International Monetary Fund (IMF) has said large funds are not the sole contributors to systemic risk issues and has called for asset managers to be subject to stress tests.

Non-domiciled residents' contributions to the UK Exchequer have been defended after Labour leader Ed Miliband confirmed his party would abolish the 'non-dom' tax status if it came to power following next month's general election.

An ex-Legal & General (L&G) adviser has been jailed for five years after stealing close to half a million pounds from a vulnerable elderly couple.

Latest complaints data published by the regulator has revealed a record number of second half complaints over investment products, driven by a rise in reports focusing on unit trusts and OEICs.

Tough competition