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US equities – the Trump honeymoon period continues

US equities – the Trump honeymoon period continues...

A little over a month into Donald Trump’s presidency, US equity indices are at record highs and money keeps flowing into the asset class. Are markets right to be sanguine?

Published : 22, Feb 2017
Victims of investment fraud have specific character traits

Victims of investment fraud have specific character...

People who have fallen victim to investment scams have specific character traits making them more susceptible to fraudsters, according to a new study by US campaign group AARP Fraud Watch Network.

Published : 20, Feb 2017
Investors keep pouring money into US equity ETFs

Investors keep pouring money into US equity ETFs...

Investors kept faith in US equities in January, despite the Trump rally losing steam, according to Morningstar ETF flows data.

Published : 20, Feb 2017
Trump tweets on US stocks winning streak , but is he right?

Trump tweets on US stocks winning streak , but...

The S&P 500 stock index posted a record high on Wednesday, prompting Donald Trump to tweet enthusiastically that the market was on its “longest winning streak in decades”. Is this correct, or are we dealing with just another alternative fact?

Published : 17, Feb 2017
Morgan Stanley pays $8m to settle ETF investment charges

Morgan Stanley pays $8m to settle ETF investment...

Morgan Stanley has agreed to pay $8m (£6.4m, €7.5m) and admit wrongdoing to settle charges that it did not ensure clients understood the risks associated with buying inverse exchange-traded funds (ETFs) the firm recommended.

Published : 15, Feb 2017
All Canadian schemes removed from HMRC Rops list

All Canadian schemes removed from HMRC Rops list...

UK pension transfers to Canada have been effectively blocked after the three remaining Canadian recognised overseas pension schemes (Rops) were removed from HM Revenue & Customs' (HMRC) list on Wednesday.

Published : 15, Feb 2017
Firms lining up to buy Old Mutual’s US asset management stake

Firms lining up to buy Old Mutual’s US asset management...

Old Mutual is in talks to sell a stake in its US asset management unit following approaches from China’s HNA group.

Published : 13, Feb 2017
Sorting through the winners and losers post-Dodd Frank

Sorting through the winners and losers post-Dodd...

The dismantling of Dodd-Frank will give European banks with ties to the United States a competitive advantage and could influence other nations to adopt a more competitive regulatory scheme.

Published : 9, Feb 2017
US threatens to revoke passports for unpaid taxes

US threatens to revoke passports for unpaid taxes...

US citizens with federal tax debt of more than $50,000 (£39,973, €46,830) may have their passports revoked by the State Department, a move that could have a greater impact on Americans living overseas.

Published : 9, Feb 2017
Billionaires caught up in ‘Hamilton’ Ponzi scheme

Billionaires caught up in ‘Hamilton’ Ponzi scheme...

A billionaire asset management company founder, a billionaire investor, and an executive at an alternative asset management firm all invested in a Ponzi scheme promising high returns by buying and selling tickets to high-demand shows, including Broadway smash musical Hamilton.

Published : 7, Feb 2017
US adviser stole $5m for private jet service and Vegas house

US adviser stole $5m for private jet service and...

A former Morgan Stanley investment adviser has been charged with stealing around $5m (£4m, €4.6m) from clients to rent a home in Las Vegas, pay for country club membership, and a private jet service.

Published : 6, Feb 2017
Trump slams brakes on fiduciary rule

Trump slams brakes on fiduciary rule

Donald Trump is to sign a directive halting the implementation of the Department of Labor’s fiduciary rule, which requires financial advisers of retirement products to act in the best interests of their clients.

Published : 3, Feb 2017
Fiduciary rule critic loses White House job on ethics grounds

Fiduciary rule critic loses White House job on...

A vocal critic of the US Department of Labor’s (DoL) fiduciary rule, Anthony Scaramucci, will no longer be appointed to a role in Donald Trump’s White House due to an ethics conflict.

Published : 2, Feb 2017
Trump’s travel ban may lead to UK ‘influx’ of foreign HNWIs

Trump’s travel ban may lead to UK ‘influx’ of...

US president Donald Trump’s controversial travel ban of some Middle East citizens could result an “influx” of high net worth individuals (HNWIs) from the region coming to the UK, according to London and Geneva-based law firm Collyer Bristow.

Published : 1, Feb 2017
Two charged in $81m ‘Hamilton’ musical Ponzi scheme

Two charged in $81m ‘Hamilton’ musical Ponzi scheme...

The US Securities and Exchange Commission (SEC) has charged two New Yorkers with raising more than $81m (£64.5m, €75.7m) through a Ponzi scheme that promised high returns by buying and selling tickets to see high-demand shows, such as Broadway musical Hamilton.

Published : 30, Jan 2017
Canadian reporting under Fatca doubled in 2016

Canadian reporting under Fatca doubled in 2016...

Details of bank accounts belonging to more than 315,000 Canadian residents were shared with the US Internal Revenue Service (IRS) in 2016 under the Fatca agreement, more the double the previous year.

Published : 30, Jan 2017
IRS trawls for US tax evaders in Panama firm probe

IRS trawls for US tax evaders in Panama firm probe...

A federal court in the US state of Montana has authorised the Internal Revenue Service (IRS) to serve a ‘John Doe’ summons in a bid to uncover details of US taxpayers who may hold offshore accounts established by a Panama firm to evade paying tax.

Published : 27, Jan 2017
US equity markets to ignore protectionist threat

US equity markets to ignore protectionist threat...

If Donald Trump makes good on his proposal to impose tariffs on all imports from Mexico to fund the construction of a wall on the country’s border with the US, this will have a profound impact on the US economy and on the profitability of some US companies. Are markets right to ignore this threat for now?

Published : 27, Jan 2017
Citigroup fined for overcharging 60,000 clients for advice

Citigroup fined for overcharging 60,000 clients...

Citigroup Global Markets has agreed to pay $18.3m (£14.5m, €17.1m) to settle charges in the US that it overcharged around 60,000 clients £18m for advice and misplaced contracts over a 15-year period.

Published : 27, Jan 2017
SEC charges US adviser in $1.3m ‘cherry picking’ scheme

SEC charges US adviser in $1.3m ‘cherry picking’...

The US Securities and Exchange Commission has charged an adviser with placing trades through a master brokerage account and allocating profitable trades to himself while passing unprofitable trades on to client.

Published : 26, Jan 2017

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