WIREDGOV

Business and Other Briefings

FSA:  The financial regulator carried out work in late 2006 and early 2007 to see if, and how, compliance consultants were used in small mortgage, general insurance and financial advice firms.  The project also looked into whether the firms that did use consultants used them effectively.

In particular the FSA visited 22 small firms employing compliance consultants in early 2007 and found nearly half of them still had significant weaknesses in respect of their regulatory requirements.

The work also showed that over a third of these firms were not acting on recommendations from their consultants that would have improved their regulatory position.
Press release ~ FSA: Using a compliance consultant ~ Firm Contact Centre ~ FSA – Small firms

HMRC:  HM Revenue and Customs has announced arrangements enabling investors with offshore accounts to disclose to HMRC any income and gains not previously included in their tax returns. 

To use these arrangements, investors will need to notify HMRC by 22 June 2007 of their intention to make a disclosure and then make their disclosure by 26 November 2007.
Press release ~ HMRC: The Offshore Disclosure Facility ~ Offshore savings accounts - This is Money