REGIONS

Pimco fined $20m for misleading investors on active ETF

Pimco fined $20m for misleading investors on active...

Investment manager Pimco has been fined nearly $20m (£15.9m, €18.9m) by the US Securities and Exchange Commission (SEC) for misleading investors about the performance of its actively managed Total Return ETF.

Published : 2, Dec 2016
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
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
Industry reacts to Middle East clampdown on commissions

Industry reacts to Middle East clampdown on commissions...

Leading figures from the financial services industry in the Middle East give their views on the proposed cap on commission and the prospect of commission disclosure coming to the region.

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
UK launches financial adviser apprenticeship scheme

UK launches financial adviser apprenticeship scheme...

The British government has approved a new specialist financial adviser apprenticeship standard and will offer employers up to £9,600 ($11,979, €11,270) in financial help toward the training of a competent adviser.

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
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
Oil spikes after OPEC strikes first deal in 8 years

Oil spikes after OPEC strikes first deal in 8...

The price of Brent crude oil surged above $50 (£40, €47) per barrel as rumours became reality that OPEC members had finally reached an agreement.

Published : 30, Nov 2016
Director of collapsed IFA firm banned after £4m goes missing

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

The director of a bankrupt UK-based IFA firm, who also ran a trading room, has been disqualified for eight years for failing to account for more than £4m ($4.9m, €4.6m) of client’s money, the Insolvency Service has revealed.

Published : 30, Nov 2016
South African IFA firm to expand adviser training school

South African IFA firm to expand adviser training...

Cape Town-headquartered IFA firm Carrick Wealth is expanding its flagship Invictus programme, a training academy launched earlier this year aimed at the company’s would-be advisers.

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
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
ANALYSIS: Will the Fed turn its back on the world next year?

ANALYSIS: Will the Fed turn its back on the world...

With a December interest rate rise now close to certain, investors will no longer be trying to assess when the Federal Reserve will raise rates next, but what the path will be after this.

Published : 29, 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
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
Gulf IFAs face ‘year of reckoning’ as clients turn away

Gulf IFAs face ‘year of reckoning’ as clients...

Financial advisers in the Middle East are finding clients increasingly reluctant to use their services, partly due to growing geopolitical uncertainty but also because of regulatory changes and poor value-for-money products from asset managers and life companies.

Published : 29, Nov 2016

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Gulf IFAs face ‘year of reckoning’ as clients turn away
Gulf IFAs face ‘year...

Financial advisers in the Middle East are finding clients...

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

Malta will be the "main winner" of HM Revenue & Customs'...

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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