INDUSTRY

Canada professionals hit out at stricter voluntary disclosure

Canada professionals hit out at stricter voluntary...

Plans for significant changes to Canada's voluntary tax disclosure programme (VDP) have been criticised by trade groups representing the country's lawyers and accountants.

Published : 22, Aug 2017
Unigestion joins MFEX platform to target intermediaries

Unigestion joins MFEX platform to target intermediaries...

Boutique asset manager Unigestion has “significantly expanded” its fund distribution network by joining the MFEX platform, which offers 50,000 funds to investors in 30 countries.

Published : 22, Aug 2017
Qrops transfer rights secured but specialist advice essential

Qrops transfer rights secured but specialist advice...Lock icon

The UK government’s decision to make pension transfers into recognised overseas schemes a statutory right has been welcomed by the industry, but experts caution that advisers will need real expertise to ensure clients don’t fall victim to scams.

PEOPLE MOVES: Standard Life Aberdeen, Aviva Investors, HSBC

PEOPLE MOVES: Standard Life Aberdeen, Aviva Investors,...Lock icon

Investment giant Standard Life Aberdeen has hired a director for its onshore China business, while HSBC Private Banking has appointed a head of funds and Etfs and Aviva Investors has added a head of multi-asset products.

Published : 22, Aug 2017
Aussie watchdog reports 300% jump in misconduct compensation

Aussie watchdog reports 300% jump in misconduct...Lock icon

Client compensations for misconduct in the Australian financial services industry nearly tripled to A$618.8m (£381.2m, $490m, €416.2m) in the first half of the year, figures contained in the Australian Securities and Investments Commission (Asic) biannual enforcement report show.

Published : 22, Aug 2017
Five common myths about life insurance

Five common myths about life insurance

Having a good life insurance policy is an important component of long-term financial planning and the best financial protection clients can offer their loved ones. But a reluctance to talk mortality and pervasive myths mean that some people still are not covered, says Globaleye’s Tony Ashton.

Published : 22, Aug 2017
Analysis: UK Government needs to act quickly on cold calling

Analysis: UK Government needs to act quickly on...Lock icon

While welcoming the UK Government's decision to resurrect a ban on pension cold calling, many industry figures have expressed concerns on how long it will take to implement.

Published : 21, Aug 2017
Government revives pensions cold calling crackdown

Government revives pensions cold calling crackdown...

IFAs have not unanimously welcomed the UK Government's revived and extended plans for a ban on pension cold calling, announced Monday as part of a raft of measures to tackle pension scams.

Published : 21, Aug 2017
UK retirement income down 46% since the financial crash

UK retirement income down 46% since the financial...

People retiring now must cope with pension income that is 46% lower than they could have expected had they retired immediately before the global financial crisis, analysis from Fidelity International has found.

Published : 21, Aug 2017
Legal challenge against Fatca shut down by US appeals court

Legal challenge against Fatca shut down by US...

A group of US citizens living abroad “lack standing” to challenge the US Treasury Department’s taxes on their foreign bank accounts, the country’s Court of Appeals for the Sixth Circuit ruled on Friday.

Published : 21, Aug 2017
South African tax amnesty on undeclared offshore assets flops

South African tax amnesty on undeclared offshore...

Just a few hundred South African taxpayers have taken advantage of the country’s special voluntary disclosure programme (SVDP) which is due to end on the 31 August.

Published : 21, Aug 2017
UK to limit right to transfer pensions but will include Qrops

UK to limit right to transfer pensions but will...Lock icon

As part of its crackdown on pension scams, HM Treasury has confirmed that it will limit the statutory right to transfer but will extend the proposed criteria to include qualifying recognised overseas pension schemes (Qrops).

Some workers exempted from Saudi expat tax

Some workers exempted from Saudi expat tax

All contractors working on public sector projects that started before December 2016, when the levy was first announced, will be exempt from paying the expat workers’ tax.

Published : 21, Aug 2017
Vietnam rolling out welcome mat for int'l life companies

Vietnam rolling out welcome mat for int'l life...

The Vietnamese Government is planning to make it easier for international life insurance companies to operate in the local market, deputy prime minister Dinh Hue Vuong has said.

Published : 21, Aug 2017
Swiss wealth manager pays $5m to settle US tax charges

Swiss wealth manager pays $5m to settle US tax...

Geneva-based investment management and consulting company Prime Partners has agreed to pay $5m (£3.9m, €4.2m) to the United States Attorney’s Office to settle charges for helping US taxpayers dodge taxes.

Published : 18, Aug 2017
Ex-IFA jailed for stealing £1m from client pension funds

Ex-IFA jailed for stealing £1m from client pension...Lock icon

A former UK adviser has been jailed for six years and banned from being a company director for eight after he was convicted of stealing £1m ($1.29m, €1.1m) of clients’ money via a self-invested personal pension scheme he invented.

Published : 18, Aug 2017
MassMutual Asia sold to investor group for $1bn

MassMutual Asia sold to investor group for $1bn...Lock icon

A finance firm set up by Alibaba founder Jack Ma has led the acquisition of Hong Kong-based MassMutual Asia by a group of regionally based investors.

Published : 18, Aug 2017
PEOPLE MOVES: Deutsche Bank, Liberty Sipp, Aegon

PEOPLE MOVES: Deutsche Bank, Liberty Sipp, Aegon...Lock icon

German behemoth Deutsche Bank has replaced its US chief Bill Woodley, while pension provider Liberty Sipp has a new finance and operations director, and life insurer Aegon UK a new head of marketing communications.

Published : 18, Aug 2017
Aussie adviser banned and convicted of 97 counts of fraud

Aussie adviser banned and convicted of 97 counts...

The Australian Securities and Investments Commission (Asic) has permanently banned a former adviser who was found guilty of 97 counts of fraud and 10 counts of stealing and sentenced to six and a half years’ imprisonment.

Published : 18, Aug 2017
Guernsey bans Sark couple from director roles for 15 years

Guernsey bans Sark couple from director roles...Lock icon

A husband and wife from the Channel Island of Sark have each been banned from acting as company directors for 15 years after they were convicted and imprisoned for conducting regulated business without a licence and obstructing justice.

Published : 17, Aug 2017

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Axa Life Singapore ordered to pay $3m over bad reference
Axa Life Singapore ordered...Lock icon

Axa Life Insurance Singapore has been ordered by the...

Ex-IFA jailed for stealing £1m from client pension funds
Ex-IFA jailed for stealing...Lock icon

A former UK adviser has been jailed for six years and...

UK to limit right to transfer pensions but will include Qrops
UK to limit right to...Lock icon

As part of its crackdown on pension scams, HM Treasury...

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