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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.
South African financial services group, Sanlam has acquired bigger stakes in two Indian insurance companies, following recent regulatory changes that allow up to 49% foreign shareholding in insurance companies in the country.
The financial advisory space is undergoing an enormous amount of flux at the moment.
Caldora Asset Management, operators of the Mauritius-domiciled Caldora Offshore Balanced Fund which suffered a spectacular drop in returns after its launch, has had its licence terminated.
The rand got another lift on Wednesday reaching its strongest level in over a month against the dollar after the courts ruled that the Public Protector’s report into so-called ‘state capture’ must be released.
Belvedere Fund Manager Ltd, part of the troubled Mauritius-based fund house Belvedere Management Group (Belvedere), has had its licence to operate collective investment schemes (CIS) suspended by the Indian Ocean island nation.
“One of the biggest challenges I have faced as an adviser in South Africa in the past few years is generating a positive return for clients from international equities,” says Mark Jurgens, head of the Jurgens Group.
South Africa’s government could be looking to introduce a wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.
The Australian Securities and Investments Commission (ASIC) has signed a cooperation agreement with the Capital Markets Authority of Kenya (CMA) in a bid to boost financial services technology for both countries.
South Africa’s Inkunzi Wealth Group (IWGSA) has launched a robo-advice tool aimed at the country’s professionals.
Kenya has unveiled a new body dedicated to promoting its fledgling Islamic finance industry, as part of a wider strategy to position itself as an International Finance Centre (IFC).
South African advisory firm Carrick Wealth has opened a new office in Botswana as part of a wider expansion across the continent, the firm has revealed.
Kenya’s financial services industry has raised concerns over plans announced by the country’s government earlier this year to merge four supervisory authorities in order to create one super regulator.
Moroccan insurer Saham Finances has bought Mauritian insurer Sun Insurance for an undisclosed sum, the company has confirmed.
Provisca, the international distribution business launched in August by Nigel Watson and Bryan Low, has signed its first partnership agreement, opening up the products of South Africa’s third largest listed insurer to international markets.
South African regulator, the Financial Services Board (FSB), has confirmed that the first phase of the upcoming Retail Distribution Review (RDR) will be introduced on 1 January 2017 – six months after the original deadline.
South African asset management firms and investment service providers need to do more to help make the lives of IFAs easier, a survey from consultancy firm Insight Discovery has found.
Old Mutual International saw a sharp drop in sales of qualifying recognised overseas pension schemes (Qrops) following the introduction of UK pensions freedoms in April last year.
South Africa’s Financial Services Board (FSB) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) have agreed to collaborate more on regulatory matters and facilitate the exchange of information between the countries.
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