News

Big Four accountancy firm Deloitte was found to have helped falsify documents to hide Russian oligarch Roman Abramovich’s wealth and evade tax. The firm signed off accounts in Cyprus, meaning assets such as mansions, private jets and superyachts worth £508m disappeared from the former Ch

The Financial Conduct Authority (FCA) has urged firms to prepare for the UK’s new regulatory regime, warning that crypto-investors will not have access to the Financial Services Compensation Scheme (FSCS) for their digital asset investments. Val Smith, the FCA’s head of authorisations, p

JPMorgan Global Growth & Income has attributed its underperformance over the year to June 2026 to “unfavourable stock selection”, with its net asset value (NAV) total return trailing its benchmark by 11 percentage points. The trust delivered a NAV total return of 16.7%, compared with

Baillie Gifford US Growth Trust chair Tom Burnet has written to the Secretary of State for Scotland Douglas Alexander and Economic Secretary Lucy Rigby urging the Government to help protect the UK investment trust industry from activist hedge funds. Burnet has been calling on retail investors to vot

The UK has fallen from seventh to 12th in a global capitalism index since 2009, with researchers pointing to modest declines in labour market openness, market competition and the free flow of goods and capital. Researchers at the University of Virginia spent three years developing the first Global C

The co-manager of Aberdeen New India Investment Trust and lead manager of the India Fund believes India’s domestic consumption story will continue to underpin economic growth, with rising retail investment and a growing middle class supporting the long-term outlook. James Thom said India could

The Financial Conduct Authority (FCA) Board has appointed Liam Coleman as chair of the Financial Ombudsman Service, with the approval of the Treasury. Mr Coleman will take up the permanent role on 10 October 2026 for a 3-year term, having served as interim chair for the last year.

Greig McKnight, centre, Regional Managing Director for Scotland, with newly promoted Partners, from left: Michael Walker, Audit; Graeme Dreghorn and Will Bleasdale, and Victoria Walker, Jennifer Spence and David Samborek   

Working capital and credit management specialist itsettled has expanded into Scotland, establishing a new Highlands base to support businesses facing increasing pressure on working capital and receivables performance. Victoria Herd, itsettled's director for Scotland and head of working capital proje

Seraphim Space Investment Trust (SSIT) has invested a further $15m in Xona Space Systems, with the US satellite navigation company’s latest financing round increasing the fair value of SSIT’s existing holding by £52.2m. The investment was made through SSIT’s C share portfolio

Gillespie Macandrew has appointed three new senior appointments to strengthen its planning, corporate and finance teams. Nikki Robertson joins the firm as head of finance. She brings expertise in financial planning and analysis, business partnering, governance, regulatory processes and Board-level r

FinTech platform Wise is negotiating a settlement with HM Revenue & Customs after errors in its software led to around 4,000 of its investment customers paying the wrong amount of tax. Around 4,000 users of its Wise Assets service were notified that they had been provided with incorrect tax stat

Partners Group Private Equity has entered a managed wind-down after 99.9% of shareholders voted in favour of realising all the assets of the £457m investment company at an extraordinary general meeting yesterday. Just over 62% of shareholders turned out to vote on the resolution to wind down t

Saba Capital has agreed to a one-year standstill with JPMorgan as it backs the rollover of Brown Advisory US Smaller Companies. The New York-based activist investor informed the company that it would vote in favour of the proposal to roll over the assets of Brown Advisory US Smaller Companies into J

Aberdeen Group has sold part of its stake in Standard Life to institutional investors and is reinvesting the proceeds in strengthening its balance sheet.