REGIONS

House of Lords warns of Brexit danger for crown dependencies

House of Lords warns of Brexit danger for crown...Lock icon

The crown dependencies’ financial services sectors could suffer if the UK government fails in its constitutional responsibility to represent the islands' interests during the Brexit negotiations, the House of Lords’ European Union Committee has warned.

Published : 23, Mar 2017
Global billionaire numbers fall

Global billionaire numbers fall

There were 2,397 billionaires across the world in 2016 with a combined net worth of $7.4trn (£5.9trn, €6.85trn), lower than reported in the previous Billionaire Census survey.

Published : 23, Mar 2017
Rathbones to launch actively managed portfolio service

Rathbones to launch actively managed portfolio...

Rathbones is set to launch a managed portfolio service offering six actively managed strategies, led by David Coombs.

Published : 23, Mar 2017
Luxembourg in ‘breakthrough’ tax treaty talks with Australia

Luxembourg in ‘breakthrough’ tax treaty talks...Lock icon

Luxembourg is in talks with Australia to sign a double tax agreement (DTA) following efforts by the Grand Duchy to clean up its controversial tax regime, finance minister Pierre Gramegna has said.

Published : 23, Mar 2017
Singapore regulator calls for end to ‘plague of misconduct’

Singapore regulator calls for end to ‘plague of...

The financial industry continues to be “plagued by egregious misconduct” and requires signficant reform, the Monetary Authority of Singapore’s managing director has said.

Published : 23, Mar 2017
JP Morgan to roll out more funds in China

JP Morgan to roll out more funds in China

JP Morgan Asset Management plans to launch more funds for China distribution through the mutual recognition of funds scheme, even though overall MRF sales have been slowing, said Henry Tong, head of China retail business.

Published : 23, Mar 2017
Sanlam acquires majority stake in PineBridge East Africa

Sanlam acquires majority stake in PineBridge East...

Sanlam Emerging Markets (SEM) has reached an agreement to acquire a majority stake in Kenya-based asset manager PineBridge Investments East Africa Limited (PIEAL).

Published : 22, Mar 2017
US justice department probes Jho Low role in 1MDB scandal

US justice department probes Jho Low role in 1MDB...

US authorities are planning to file criminal charges against Malaysian financier Jho Low in connection with the stricken sovereign wealth fund 1Malaysia Development Bhd (1MDB), the Wall Street Journal reported.

Published : 22, Mar 2017
Luxembourg shuns ‘aggressive’ Brexit plan to attract UK firms

Luxembourg shuns ‘aggressive’ Brexit plan to attract...Lock icon

Luxembourg, the largest domicile for Ucits funds, will not engage in a “race to the bottom” to lure UK-based asset managers that want to maintain their passporting rights when Britain leaves the EU, according to Anouk Agnes, deputy director general of the Association of Luxembourg Fund Industry (Alfi).

Published : 22, Mar 2017
Hong Kong regulator freezes accounts in US Ponzi scheme

Hong Kong regulator freezes accounts in US Ponzi...Lock icon

Hong Kong’s Securities and Futures Commission (SFC) has obtained an interim court order to freeze bank accounts connected with a suspected $15m (£12.1m, €13.9m) US Ponzi scheme that invested in Brazilian and African gold mines.

Published : 22, Mar 2017
Treasury ruling out pension raid for now claims AJ Bell

Treasury ruling out pension raid for now claims...

AJ Bell is claiming that the UK Treasury has ruled out changes to pension tax relief within the next few years, despite government sources suggesting that this is on the agenda after the post Spring Budget climbdown on national insurance contribution rises for the self-employed.

Published : 22, Mar 2017
Hong Kong Life Insurance sold in $914m deal

Hong Kong Life Insurance sold in $914m deal

Hong Kong Life Insurance has been sold to local investment firm First Origin International for HK$7.1bn (£738m, $914m, €850m) in the latest insurance M&A deal in the special administrative region.

Published : 22, Mar 2017
ANALYSIS: Fixed maturity funds – Has the opportunity passed?

ANALYSIS: Fixed maturity funds – Has the opportunity...

2016 saw some highly successful launches of fixed maturity bond funds as investors took the opportunity to lock in attractive yields combined with reduced duration risk. But are such products still worth buying now, with credit spreads having sunk below their long-time average?

Published : 22, Mar 2017
Finance Bill offers no clarity on life policy part surrenders

Finance Bill offers no clarity on life policy...

The Finance Bill failed to shed more light on how HM Revenue & Customs plans to recalculate the gain on partial surrenders when policyholders withdraw money from their life insurance policies the wrong way, says Rachael Griffin, financial planning expert at Old Mutual Wealth.

Holborn Assets ordered to immediately cease pension transfers

Holborn Assets ordered to immediately cease pension...Lock icon

The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.

Fees on European funds ‘must come down’, warns regulator

Fees on European funds ‘must come down’, warns...Lock icon

Asset managers in Europe must reduce the cost of their products, Steven Maijoor, chair of the European Markets and Securities Authority (Esma) has warned.

Published : 21, Mar 2017
Mobius to stand down as PM on 12 funds

Mobius to stand down as PM on 12 funds

Mark Mobius is to stand down from fund management duties on a range of 12 Luxembourg Sicavs but will remain as executive chairman of Templeton Emerging Markets Group.

Published : 21, Mar 2017
Indonesia hauls in a surprise $330bn from tax amnesty

Indonesia hauls in a surprise $330bn from tax...

Indonesia has raised more than $330bn (£265bn, €381bn) from at least 745,000 taxpayers as its tax amnesty approaches next week’s closing date of 31 March.

Published : 21, Mar 2017
Phoenix Group on growing and consolidating its brood

Phoenix Group on growing and consolidating its...Lock icon

Having bought Axa Wealth and Abbey Life in 2016, Phoenix Life chief executive Andy Moss tells International Adviser about the group's consolidation history and how it brings all of its new business on board.

Sacked Praemium CEO Ohanessian tries to oust chairman

Sacked Praemium CEO Ohanessian tries to oust chairman...

Former Praemium chief executive Michael Ohanessian has requested the company hold a general meeting in a bid to oust chairman Greg Camm and three directors.

Published : 20, Mar 2017

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UK to 'raid pensions' to fund U-turn on self-employed tax hike
UK to 'raid pensions'...

The UK Treasury is reportedly considering a fresh raid...

Holborn Assets ordered to immediately cease pension transfers
Holborn Assets ordered...Lock icon

The UK Financial Conduct Authority has ordered Holborn...

Gibraltar ‘in danger’ of losing Qrops status
Gibraltar ‘in danger’...Lock icon

Gibraltar must put in place a system for regulating...

Sarah Lord to leave Killik & Co
Sarah Lord to leave Killik...Lock icon

Sarah Lord, one of the most highly qualified female...

South African expats unite against proposed tax changes
South African expats...Lock icon

South Africans working in countries with no income...

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