News & Updates
Articles matching "financial services"
Role of the FCA and the ‘super-complaint’ process
The Financial Services Act 2012 came into force on 1 April 2013, creating a new regulatory framework for financial services and abolishing the Financial Services Authority (FSA). In this article we…
Read moreWhen is a FOS decision final and binding?
In Clark & Clark v In Focus Asset Management & Tax Solutions [2012] EWHC 3669 (QB), the High Court held that an investor can bring a substantial complaint to FOS, accept an award of the…
Read moreDo accountants owe a duty to advise on tax avoidance schemes?
Whilst HMRC is busy clamping down on tax avoidance schemes, the High Court was reported in some circles recently as apparently placing the onus on accountants to advise clients to enter into tax…
Read moreDocs before claim? That’s generally not playing the game
In Assetco Plc v Grant Thornton UK LLP we look at how the court approached an application for pre-action disclosure of an accountant’s documents during the pre-action protocol stage of an audit…
Read moreHMRC offer to settle tax avoidance schemes
We report on the recent Government initiative to clamp down on tax avoidance and evasion by inviting participants in certain schemes to settle their tax liabilities by agreement, without the need for…
Read moreHMRC penalties: Reliance on negligent advice
We look at the First-tier Tax Tribunal decision in Waseem Shakoor v HMRC, which considered whether negligent advice from an accountant could be a defence to penalties imposed upon the taxpayer who…
Read moreLegal advice, privilege and accountants
We review the latest developments regarding legal professional privilege and the accountancy profession following the long awaited Court of Appeal decision in R (Prudential) v Special Commissioners of…
Read moreMandatory Audit Firm Rotation
We look at developments in the audit sector following EU proposals for audit rotation.
Read moreDo accountants owe a duty to advise on tax avoidance schemes?
Whilst HMRC is busy clamping down on tax avoidance schemes, the High Court was reported in some circles earlier this month as apparently placing the onus on accountants to advise clients to enter into…
Read more
Insurance: Misrepresentation and non-disclosure - FOS online technical resource
The Financial Ombudsman Service (FOS) has published a new online technical resource on how it approaches cases involving misrepresentation and non-disclosure by consumers when taking out insurance…
Read more