Financial regulators in France

A few weeks ago in my column in the Aude and Ariege Flyer I referred to a certain Mr Warren Templeton, a low-life swindler who was operating in the Dordogne region. His case seems to have sparked a great deal of interest in the regulation and monitoring of financial advisers; and so it should too. I am seeing an increasing number of clients who have come to me because they are worried about advice they have taken either before coming to France, or within a short period after their arrival here. I’m sorry to report that in a lot of cases the advice they acted upon was either born out of ignorance or ineptitude, and in some cases worse.

At Spectrum we have a clear policy; we believe that it is in the clients’ interests for us to be registered and regulated in each of the countries where we offer our services to expatriates. This has always been our policy. We have always encouraged our clients to maintain their relationship with their UK financial adviser if they continue to hold UK based investments. If that adviser is competent, he will know when his client should be talking to us.

The publicity surrounding this case has prompted some interesting and conflicting views in the national English-in-France press. One large spread advert seems to imply that the likes of Templeton are clowns; not a view that I think his victims will share. Another article claims quite openly that it is OK for expat advisers in France not to seek regulation here, because they don’t speak French well enough and may misunderstand the rules.

It’s a funny old world.

Tax Changes for Lower Paid

France financial minister announces tax breaks for lower paid workers. Anyone in the 5.5% tax bracket will get an 80% refund of their tax for 2008.

Welcome to the France Financial blog

France Financial specialises in helping English speaking expatriates currently living in France, or intending to do so in the future, to protect and enhance their finances. Our aim is to create and provide solutions by way of a broad range of products and services. We will work with you to plan your finances and make the most of the opportunities offered by the expatriate lifestyle.

I have produced this blog so that I can keep you completely up to date with the changes in legislation and circumstances that can occur and which may affect your financial arrangements in France so that you are fully informed and can take the necessary steps to truly protect or enhance your finances.

Please feel free to visit my website at France Financial for more detailed information on the full range of services we offer.