INDUSTRY

India increases commission rates for life insurance brokers

India increases commission rates for life insurance...

Insurance brokers in India are set to receive higher commissions payments for selling life insurance policies, in proposals unveiled by the country’s regulator due to come into force in April.

Published : 18, Jan 2017
US shares details of 35,000 accounts with Israel under Fatca

US shares details of 35,000 accounts with Israel...

America's Internal Revenue Service (IRS) has shared details of more than 35,000 US accounts held by Israeli citizens with the Israel Tax Authority (ITA), according to local media.

Published : 17, Jan 2017
Lombard International unveils platform for IFAs

Lombard International unveils platform for IFAs...

Lombard International Assurance has launched a new platform called Connect.

Published : 17, Jan 2017
PEOPLE MOVES: Lombard Odier, J O Hambro, Brewin Dolphin

PEOPLE MOVES: Lombard Odier, J O Hambro, Brewin...

Lombard Odier Group has named two managing partners, with J O Hambro Capital Management confirming the resignation of its former group chief executive. Brewin Dolphin appoints a former Barclays Wealth banker as divisional director.

Published : 17, Jan 2017
Arsenal’s Sanchez facing jail after admitting €1m tax fraud

Arsenal’s Sanchez facing jail after admitting...

Arsenal striker Alexis Sanchez faces a possible jail sentence after admitting to tax fraud in Spain of almost €1m (£880,240, $1.06m).

Published : 17, Jan 2017
Nationwide to close Isle of Man offshore expat unit

Nationwide to close Isle of Man offshore expat...

Nationwide International, the Isle of Man-based offshore unit of UK retail bank Nationwide, has announced that it is closing its doors in summer 2017 in a move expected to affect thousands of British expats.

Published : 17, Jan 2017
Reading the regulatory writing on the UAE wall

Reading the regulatory writing on the UAE wall...

Regulatory changes in the United Arab Emirates pose a challenge to existing business models for IFAs in the region but Sean Kelleher at Mondial is one step ahead, and after years of hard work in preparing his business for the new requirements, he is ready to reap the rewards.

Published : 17, Jan 2017
Ex-Harlequin accountants appeal $11.6m UK court order

Ex-Harlequin accountants appeal $11.6m UK court...

UK accountancy firm Wilkins Kennedy is appealing against recent a High Court judgement ordering it to pay $11.6m (£9.5m, €10.8m) to Harlequin Property SCG, the company behind the stricken £400m fund.

Published : 16, Jan 2017
SMP Partners granted Jersey licence

SMP Partners granted Jersey licence

SMP Partners, the Isle of Man-based international corporate and trust service provider, has been granted a licence by the Jersey Financial Services Commission (JFSC) and opened an office on the island.

Published : 16, Jan 2017
Jersey regulator launches campaign against mis-selling

Jersey regulator launches campaign against mis-selling...

The Jersey Financial Services Commission (JFSC) has teamed up with the Personal Finance Society (PFS) to launch a public awareness campaign on investment mis-selling in response to increasing numbers of local investors losing their savings through high-risk investments.

Published : 16, Jan 2017
Portugal introduces wealth tax on properties over €600k

Portugal introduces wealth tax on properties over...

The Portuguese government has introduced a wealth tax on properties valued over €600,000 (£538,572, $660,108) in a move that could benefit thousands of British expats living in the EU-member state.

Published : 16, Jan 2017
SLI launches Sicav version of MyFolio fund range

SLI launches Sicav version of MyFolio fund range...

Standard Life Investments has launched an international version of its suite of multi-asset funds known as MyFolio, which will be initially available to advisers and their clients in Germany.

Published : 16, Jan 2017
IoM global commission disclosure still two years away

IoM global commission disclosure still two years...

Life companies based on the Isle of Man will have to disclose client commission worldwide from January 2019, the head of the Isle of Man Financial Services Authority (IoMFSA) has confirmed.

Published : 16, Jan 2017
SJP faces backlash for escaping 1% exit charge on pensions

SJP faces backlash for escaping 1% exit charge...

St James’s Place, one of Britain’s biggest wealth managers, has come under fire over claims it will not be caught by an incoming cap on exit charges.

US fiduciary rule critic Scaramucci named in new Trump role

US fiduciary rule critic Scaramucci named in new...

A leading critic of the Department of Labor’s (DoL) upcoming fiduciary rule, which will require pension advisers to act in the best interests of their clients, putting an end to high-commission investment products, has been named as an assistant to president-elect Donald Trump.

Published : 13, Jan 2017
Praemium sees 29% rise in managed funds amid record inflows

Praemium sees 29% rise in managed funds amid record...

Australian-headquartered platform provider Praemium has reported a 29% rise in funds under administration (FUA) for the year to 31 December 2016, driven by record inflows from its international units.

Published : 13, Jan 2017
UK to crackdown on managers responsible for corporate crime

UK to crackdown on managers responsible for corporate...

The UK government is to toughen laws governing fraudulent or dishonest activity by financial services companies to make it easier to successfully prosecute criminal offences such as fraud, money laundering and false accounting.

Published : 13, Jan 2017
Retail investment and robo-advice top SEC’s 2017 priorities

Retail investment and robo-advice top SEC’s 2017...

The US Securities and Exchange Commission has put retail investor protection and robo-advice at the centre of its examinations programme for 2017.

Nucleus chairman and Skandia founder Paul Bradshaw dies

Nucleus chairman and Skandia founder Paul Bradshaw...

Nucleus chairman and Skandia founder Paul Bradshaw has sadly passed away following a cardiac arrest.

Published : 13, Jan 2017
PEOPLE MOVES: Axa, James Hambro, Fidelity Int’l

PEOPLE MOVES: Axa, James Hambro, Fidelity Int’l...

After 10 years with the business, the chief executive of Axa Global Asset Management has announced she is stepping down. James Hambro & Partners has made three senior staff members partners of the business, with Fidelity International handing five multi-asset open range funds to a new portfolio manager.

Published : 13, Jan 2017

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UAE commission ban may face 'two-year delay'
UAE commission ban may...

The UAE Insurance Authority (IA) is to issue a new...

Fatca here to stay as US becomes last global tax haven
Fatca here to stay as...

The United States will become the last global tax haven...

HMRC sees 80% leap in anti-avoidance tax take
HMRC sees 80% leap in...

HM Revenue & Customs boosted revenue from its counter-avoidance...

Nucleus chairman and Skandia founder Paul Bradshaw dies
Nucleus chairman and...

Nucleus chairman and Skandia founder Paul Bradshaw...

Malta accused of being a tax haven after taking EU presidency
Malta accused of being...

Malta has been accused of being a tax haven after a...

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