REGIONS

S Africa inks key legislation to overhaul financial regulation

S Africa inks key legislation to overhaul financial...Lock icon

After nearly two years' delay, South African president Jacob Zuma finally signed the Financial Sector Regulation Act (2017) into law on Monday, which established two new financial regulators.

Published : 22, Aug 2017
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.

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
Deutsche AM defends listed infrastructure investment

Deutsche AM defends listed infrastructure investment...

Following academic criticism that listed infrastructure investments don’t deliver infrastructure-like returns, Deutsche Asset Management’s head of liquid real assets for Asia & Europe has come to the asset class's defence.

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
Goldman Sachs gets Saudi equities trading licence

Goldman Sachs gets Saudi equities trading licence...

Goldman Sachs received approval on Sunday to trade equities in Saudi Arabia, joining a growing cohort of western investment banks and fund managers expanding in the kingdom.

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
European Wealth revamps fund to attract clients in Far East

European Wealth revamps fund to attract clients...

European Wealth has unveiled a new name and investment policy for its global opportunities fund in a push to attract new business in the Far East.

Published : 21, Aug 2017
In most sectors, indices beat active funds over a decade

In most sectors, indices beat active funds over...

Do active funds on average beat the performance of a relevant index over the very long term? Our sister publication Fund Selector Asia found that one sector stands alone.

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
CISI teams up with university to offer pre-graduation exams

CISI teams up with university to offer pre-graduation...

The Chartered Institute for Securities & Investment (Cisi) and Birmingham City University (BCU) have forged a partnership to give young graduates the opportunity to sit professional qualifications in financial services before finishing their degrees.

Published : 18, Aug 2017
Over 700,000 expats leave Saudi ahead of visa crackdown

Over 700,000 expats leave Saudi ahead of visa...

An amnesty for expats working and living in Saudi Arabia illegally has seen more than 700,000 people take advantage of the scheme that will allow them to return legally in future, as the government prepares to track down those who opted to stay.

Published : 18, 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

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Blacklisted tax havens could face four types of sanctions
Blacklisted tax havens...

The European Commission is understood to be looking...

New Hong Kong wealth firm led by ex-UHNW exec
New Hong Kong wealth...

A former UBS director of ultra-high net worth (UHNW)...

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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