INDUSTRY

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
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
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
Asset managers must ‘innovate and industrialise’

Asset managers must ‘innovate and industrialise’...

The asset management industry is facing an innovation dilemma as it struggles to free itself from encumbered business models and embrace industrialisation, says Matthew Lamb, chief executive of Pacific Asset Management.

Published : 13, Jan 2017
Ex-adviser jailed eight years over £4m Cyprus property fraud

Ex-adviser jailed eight years over £4m Cyprus...

A former financial adviser has been sentenced to eight and a half years in prison after being found guilty of defrauding clients out of £4m (€4.6m, $4.8m).

Published : 12, Jan 2017
UK expats need EU healthcare more than Europeans need NHS

UK expats need EU healthcare more than Europeans...

A greater number of British expats rely on European healthcare under the UK’s reciprocal healthcare agreements than European pensioners living on the UK, who use the NHS, according to figures obtained by the BBC.

Published : 12, Jan 2017
UAE commission ban may face 'two-year delay'

UAE commission ban may face 'two-year delay'

The UAE Insurance Authority (IA) is to issue a new draft and open a fresh consultation on plans to tackle high fees and hidden commissions in the life industry after requests for a 'two-year delay', sources have told International Adviser.

Published : 12, Jan 2017
HMRC sees 80% leap in anti-avoidance tax take

HMRC sees 80% leap in anti-avoidance tax take

HM Revenue & Customs boosted revenue from its counter-avoidance directorate by 80% last year, according to figures compiled by law firm Pinsent Masons.

Published : 12, Jan 2017
The 2017 FSA Fund Award winners are...

The 2017 FSA Fund Award winners are...

Here are the Hong Kong winners of Fund Selector Asia's third annual fund management awards.

Published : 12, Jan 2017
Key financial planning tips for international advisers in 2017

Key financial planning tips for international...

Opportunity knocks for financial advisers in 2017 as political, economic and regulatory turmoil leaves clients adrift in unknown territory and seeking advice, says Rachael Griffin, head of product law and financial planning at Old Mutual International.

Published : 12, Jan 2017

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

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