INDUSTRY

France looks to tighten rules for asset managers

France looks to tighten rules for asset managers...

France’s markets watchdog has set out rules to limit the repayments asset managers make to investors when markets are stressed, making it the latest regulator to shine a light on the industry.

Published : 2, Dec 2016
UK politicians slam HMRC over lack of tax relief scrutiny

UK politicians slam HMRC over lack of tax relief...

British MPs have criticised HM Revenue & Customs (HMRC) over its lack of scrutiny on whether tax reliefs are being used effectively, raising doubts about plans to digitise its services.

Published : 2, Dec 2016
Northstar unveils index linked range with capital protection

Northstar unveils index linked range with capital...

Bermuda-based Northstar Financial Services has launched an S&P 500 index-linked product which will carry a 100% capital return guarantee.

Published : 2, Dec 2016
Singapore bans star dealmaker as banks fined £5.3m over 1MDB

Singapore bans star dealmaker as banks fined £5.3m...

An ex-Goldman Sachs banker is facing a ban from Singapore’s securities industry , while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.

Published : 2, Dec 2016
AxiomSL opens Dubai office in Middle East expansion

AxiomSL opens Dubai office in Middle East expansion...

AxiomSL, a firm specialising in regulatory reporting and risk management, has announced it will be opening its first Middle East office in the the Dubai International Financial Centre (DIFC).

Published : 2, Dec 2016
Hargreaves Lansdown hails its ‘biggest fund launch ever’

Hargreaves Lansdown hails its ‘biggest fund launch...

The HL Select UK Shares Fund launch on Friday has been hailed as its biggest ever by Hargreaves Lansdown.

Published : 1, Dec 2016
PEOPLE MOVES: Zurich, MBMG, Close Brothers

PEOPLE MOVES: Zurich, MBMG, Close Brothers

A Zurich stalwart has been hired to the Middle East to head up the life insurer’s retail distribution team, while Bangkok-based advisory firm MBMG announces a departure. Close Brothers appoints a new business development director, who will work closely with UK advisers.

Published : 1, Dec 2016
IFA fined £234k for ‘McDonald’s advice’ on doomed Harlequin

IFA fined £234k for ‘McDonald’s advice’ on doomed...

The head of a UK IFA firm, which was one of the biggest sellers of the ill-fated Harlequin Property investments, has been fined £233,600 (€274,259, $291,491) for the poor advice he doled out to pension clients.

Published : 1, Dec 2016
Tilney targets advisers with ‘smart beta’ range

Tilney targets advisers with ‘smart beta’ range...

UK wealth manager Tilney for Intermediaries is planning to launch a new range of ‘risk graded, low cost multi-asset funds’ in the first quarter of 2017.

Published : 1, Dec 2016
Australia passes law to slash upfront life commissions

Australia passes law to slash upfront life commissions...

The Australian government has passed a law that will significantly reduce the upfront commissions paid on life insurance products and cap ongoing charges.

Published : 1, Dec 2016
Dodgy Sipps claims to drive up FSCS levy on UK advisers

Dodgy Sipps claims to drive up FSCS levy on UK...

The UK’s Financial Services Compensation Scheme (FSCS) has warned it may impose an interim levy on life and pension advisers over the increasing number of claims related to self-invested personal pension schemes (Sipps).

Published : 1, Dec 2016
Woodford IM and L&G to fund UK start-ups

Woodford IM and L&G to fund UK start-ups

Woodford Investment Management (IM) and Legal & General’s principal investment arm have taken stakes in a £150m ($187m,€176m) venture platform to support UK digital start-ups at all stages of the funding cycle.

Published : 30, Nov 2016
Australia's IOOF considers buying ANZ's wealth business

Australia's IOOF considers buying ANZ's wealth...

Australian-listed financial services firm IOOF Holdings has indicated it is interested in buying the ANZ bank’s domestic wealth management business.

Published : 30, Nov 2016
Brewin Dolphin hit by 18% fall in pre-tax profits

Brewin Dolphin hit by 18% fall in pre-tax profits...

Brewin Dolphin has posted a 17.9% fall in pre-tax profits as it has published its preliminary annual results for 2016 in a year that included a “challenging” first half.

Published : 30, Nov 2016
Schroders unveils first credit income fund

Schroders unveils first credit income fund

Schroders has launched the Schroder ISF1 Global Credit Income fund, its first credit income fund.

Published : 30, Nov 2016
Pacific Investments launches asset management business

Pacific Investments launches asset management...

Sir John Beckwith’s Pacific Investments group has launched Pacific Asset Management (PAM), which will initially focus on the multi-asset retail space, with institutional fund launches planned at a later stage.

Published : 30, Nov 2016
St James' Place doubles adviser numbers in Asia

St James' Place doubles adviser numbers in Asia...

St James’s Place has expanded its presence in Asia as it moves from servicing expats and looks to target the region's high net-worth individuals (HNWIs), said Mike Gravestock, partnership director for Asia and international.

Published : 30, Nov 2016
HMRC's planned overhaul will ‘decimate’ Rops market, says IFA

HMRC's planned overhaul will ‘decimate’ Rops market,...

The UK’s plan to abolish the 70% ‘income for life’ rule on recognised overseas pension schemes (Rops) will “decimate” the market for such products, according to the head of expat-focused IFA firm, Montfort International.

Published : 29, Nov 2016
PEOPLE MOVES: StanChart, FPI, Aviva

PEOPLE MOVES: StanChart, FPI, Aviva

Standard Chartered’s Asean and south Asia chief executive has stepped down with immediate effect. Friends Provident International has appointed a regional sales director for Singapore, while Aviva has hired a tech industry heavy hitter for a new communications role.

Published : 29, Nov 2016
South Africa considering tax changes to offshore pension funds

South Africa considering tax changes to offshore...

South African tax authorities may clamp down on the way overseas pension products are taxed, according to Martin Hall, director of Isle of Man-based Optimus.

Published : 29, Nov 2016

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Malta the ‘big winner’ of UK’s extensive Rops reforms
Malta the ‘big winner’...

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St James' Place doubles adviser numbers in Asia
St James' Place doubles...

St James’s Place has expanded its presence in Asia...

Director of collapsed IFA firm banned after £4m goes missing
Director of collapsed...

The director of a bankrupt UK-based IFA firm, who also...

South Africa considering tax changes to offshore pension funds
South Africa considering...

South African tax authorities may clamp down on the...

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